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CHILE, Santiago, gold bust 8 escudos, Charles IV transitional (bust of Charles III, ordinal IV), 178

Currency:USD Category:Coins & Paper Money / World Coins By Country Start Price:4,000.00 USD Estimated At:5,000.00 - 10,000.00 USD
CHILE, Santiago, gold bust 8 escudos, Charles IV transitional (bust of Charles III, ordinal IV), 178
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CHILE, Santiago, gold bust 8 escudos, Charles IV transitional (bust of Charles III, ordinal IV), 1789 DA, NGC AU details / private countermark (Colección Val y Mexía Label). Cal-1751; KM-42; Fr-19. Rich gold color with beautiful rainbow toning all over, choice strike with nearly full rims, a few light marks but also with a small, deeply impressed countermark below the denomination consisting of a cross inside a triangle, currently unattributed but apparently a contemporary merchant or goldsmith’s mark. This intriguing mark closely matches a divided-triangle countermark recorded on a 1794 Mexico City 8 escudos, likewise placed below the 8 on the reverse and certified by NGC as a private countermark. The appearance of what may be the same punch on gold coins from two different Spanish American mints suggests use by a merchant, goldsmith, banking house, or trading center involved in the circulation and verification of international gold, hence a compelling reminder that Spanish American gold circulated far beyond its mints of origin, passing through Caribbean trade networks and into the early United States, where merchants, goldsmiths, and banking houses all routinely tested, and in some cases marked, acceptable foreign gold for circulation. Pedigreed to the Val y Mexía Collection.
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