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Mexico City, Mexico, cap-and-rays 8 reales "hookneck," 1824JM, NGC AU 58, ex-Jones.

Currency:USD Category:Coins & Paper Money / World Coins - World (H-O) Start Price:1,000.00 USD Estimated At:1,250.00 - 2,000.00 USD
Mexico City, Mexico, cap-and-rays 8 reales  hookneck,  1824JM, NGC AU 58, ex-Jones.
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Mexico City, Mexico, cap-and-rays 8 reales "hookneck," 1824JM, NGC AU 58, ex-Jones. DP-Mo02; KM-A376.2. Struck only at the mints of Durango, Guanajuato and Mexico City, the 1823-24 first issue of the prolific "cap-and-rays" design (also known as resplandores), with standing eagle in profile craning its neck down to the left ("hookneck") and Liberty cap with cursive "Libertad" on a raised ribbon across the center as opposed to being on the brim, was a flawed design, as the centers were almost never fully struck, making for a type whose value is determined just as much by its quality of strike as its strict grade. This example is desirable on both counts, as the surfaces are lustrous and clean while the Libertad and eagle's flank feathers are fully discernible (yet lightly worn, keeping it from true Mint State), with a lovely blue tone developing at the rims. Pedigreed to the Dr. Peter Jones collection (stated on label) and to the Richard Long auction of May 2006 (lot #85). NGC #5907772-013.