Watch List notes:

Small silver ingot (square) made in Cartagena from melted coins, 926 grams, marked with fineness IIUCL (2150/2400), assayer BEXARo, and serial number 1 4, rare and important, ex-Maravillas (1656), ex-Christie's. 3½" x 3¼" x 5/8". An atypically square ingot noted in documents as a "plancha," darkly toned, with clear markings and patches of white and greenish-white coral here and there (especially on the bottom). There is evidence that pieces like this were intended to be legal, circulating substitutes for debased coins; research by Jorge Proctor and Herman Blanton has demonstrated that these odd ingots were made in Cartagena, Colombia, from melted-down Potosí cobs recalled due to debasement scandal, as proven by assayer-marks on the ingots, specifically the BEXARo on this piece, referring to Francisco Martínez Bejarano, documented as Chief Assayer of Cartagena from 1644 to 1652. From the Maravillas (1656), pedigreed to the Christie's (New York) auction of May 1992 (lot 121), with small photo-card, and to Sedwick Auction 21, with original lot-tag 321.

Estimate: 10000 - 20000 USD