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Arequipa, South Peru, 2 reales, 1838, encapsulated NGC MS 62, tied for finest known specimen graded

Currency:USD Category:Coins & Paper Money / World Coins - World (P-Z) Start Price:1,000.00 USD Estimated At:1,250.00 - 2,000.00 USD
Arequipa, South Peru, 2 reales, 1838, encapsulated NGC MS 62, tied for finest known specimen graded
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This item SOLD at 2012 Oct 26 @ 17:44UTC-4 : AST/EDT
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Arequipa, South Peru, 2 reales, 1838, encapsulated NGC MS 62, tied for finest known specimen graded by NGC, very rare. KM-169.2. Almost prooflike with underlying luster (very lightly toned), particularly well struck for this popular type, with spots of copper color here and there. This ephemeral mint was apparently unable to satisfactorily "mix the metals" to create a viable batch that would be 2/3 silver and 1/3 copper plus other base metals, so all known examples have patches where the copper shows through or the design failed to be clear. One of only two at MS 62 in the NGC census, with the next highest grade just AU 55.