LOT / Treasure, World, U.S. Coin & Paper Money Auc... / NICARAGUA, Granada, 10 centavos, arms countermar...

1268

NICARAGUA, Granada, 10 centavos, arms countermark (1870) on a contemporary counterfeit Potosí, Boliv

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

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NICARAGUA, Granada, 10 centavos, arms countermark (1870) on a contemporary counterfeit Potosí, Bolivia, cob 1 real, Philip V or Louis I, assayer Y, with El Salvador arms countermark (Type V, 1869) on other side, unique. KM-unl (KM-46 for El Salvador host). 3.11 grams. Central America experienced persistent shortages of official coinage in the mid- to late 1800s, causing old Spanish colonial silver cobs to remain in active circulation. Governments periodically legalized these coins by decree and by applying countermarks to confirm their value in local commerce.

In Nicaragua, executive monetary regulations formally recognized and addressed the continued use of irregular silver coinage and diverse foreign and colonial coins and established official values for them within the national accounting system. By a decree on July 1, 1861, public treasury offices were ordered to regulate and record the circulation of silver cobs and pass them for their equivalent values in the new decimal system; but this was not actually implemented until another decree on May 16, 1870, that specifically established an official exchange equivalence in centavos. In the case of cobs (which were well worn by then), this was done via countermarking, as modern milled coins were easily convertible. This circular countermark is in the form of the arms of Nicaragua, with flags around and wreath below a triangular emblem containing a sun-over-volcanoes design.

In El Salvador, comparable reforms took place in the prior year, by decree of April 7, 1869, regulating the cob coinage (mostly in the 1-real denomination) and stabilizing circulation, resulting in the well-known Type V series of countermarks.

The present coin represents the practical outcome of both of these regulations. A Spanish colonial cob 1 real remained in circulation long after its original minting and was successively validated under the monetary systems of two different Central American republics.

Such cross-border circulation with separate governmental validation is extremely rare. The present example is an unrecorded and presumably unique pairing of these two countermarks on the same host cob, Nicaragua (AU details) on the cross side and El Salvador (Fine details) on the pillars side, with just a hint of original cob design remaining, including assayer Y and second digit 7 of date above waves. From XRF testing we know the coin is about 38% silver and 61% copper, yet it looks like good silver, just with light golden toning. It stands to reason that a well-circulated contemporary counterfeit of correct weight and design was not even given a second look before both countermarks were applied. With NGC tag: "not encapsulated - plated". If Tax Number is requested and supplied, buyer will be exempt from paying tax on his invoice. (FLORIDA) NOTE: Read the terms and conditions or contact us regarding possible tax collection outside of Florida.

Taxes:

Tax	Rate	Desc.
FSTA	6.75%	Florida Sales Tax - Alachua
FSTB	7%	Florida Sales Tax - Baker
FSTB	6%	Florida Sales Tax - Bay
FSTB	7%	Florida Sales Tax - Bradford
FSTB	6%	Florida Sales Tax - Brevard
FSTB	6%	Florida Sales Tax - Broward
FSTC	7.5%	Florida Sales Tax - Calhoun
FSTC	7%	Florida Sales Tax - Charlotte
FSTC	6%	Florida Sales Tax - Citrus
FSTC	7%	Florida Sales Tax - Clay
FSTC	6%	Florida Sales Tax - Collier
FSTC	7%	Florida Sales Tax - Columbia
FSTD	7%	Florida Sales Tax - De Soto
FSTD	7%	Florida Sales Tax - Dixie
FSTD	7%	Florida Sales Tax - Duval
FSTE	7.5%	Florida Sales Tax - Escambia
FSTF	7%	Florida Sales Tax - Flagler
FSTF	7%	Florida Sales Tax - Franklin
FSTG	7.5%	Florida Sales Tax - Gadsden
FSTG	7%	Florida Sales Tax - Gilchrist
FSTG	7%	Florida Sales Tax - Glades
FSTG	7%	Florida Sales Tax - Gulf
FSTH	7%	Florida Sales Tax - Hamilton
FSTH	7%	Florida Sales Tax - Hardee
FSTH	7%	Florida Sales Tax - Hendry
FSTH	6.5%	Florida Sales Tax - Hernando
FSTH	7%	Florida Sales Tax - Highlands
FSTH	7%	Florida Sales Tax - Hillsborough
FSTH	7%	Florida Sales Tax - Holmes
FSTI	7%	Florida Sales Tax - Indian River
FSTJ	7.5%	Florida Sales Tax - Jackson
FSTJ	7%	Florida Sales Tax - Jefferson
FSTJ	7%	Florida Sales Tax - Lafayette
FSTL	7%	Florida Sales Tax - Lake
FSTL	6%	Florida Sales Tax - Lee
FSTL	7.5%	Florida Sales Tax - Leon
FSTL	7%	Florida Sales Tax - Levy
FSTL	7%	Florida Sales Tax - Liberty
FSTM	7.5%	Florida Sales Tax - Madison
FSTM	6.5%	Florida Sales Tax - Manatee
FSTM	6.5%	Florida Sales Tax - Marion
FSTM	6.5%	Florida Sales Tax - Martin
FSTM	7%	Florida Sales Tax - Miami-Dade
FSTM	7.5%	Florida Sales Tax - Monroe
FSTN	7%	Florida Sales Tax - Nassau
FSTO	6%	Florida Sales Tax - Okaloosa
FSTO	7%	Florida Sales Tax - Okeechobee
FSTO	6.5%	Florida Sales Tax - Orange
FSTO	7%	Florida Sales Tax - Osceola
FSTP	6.5%	Florida Sales Tax - Palm Beach
FSTP	7%	Florida Sales Tax - Pasco
FSTP	7%	Florida Sales Tax - Pinellas
FSTP	7%	Florida Sales Tax - Polk
FSTP	7%	Florida Sales Tax - Putnam
FSTS	6%	Florida Sales Tax - Saint Johns
FSTS	7%	Florida Sales Tax - Santa Rosa
FSTS	7%	Florida Sales Tax - Seminole
FSTS	7%	Florida Sales Tax - Sumter
FSTS	7%	Florida Sales Tax - Suwannee
FSTT	7%	Florida Sales Tax - Taylor
FSTU	7%	Florida Sales Tax - Union
FSTV	6.5%	Florida Sales Tax - Volusia
FSTW	7%	Florida Sales Tax - Wakulla
FSTW	7%	Florida Sales Tax - Walton
FSTW	7%	Florida Sales Tax - Washington

Buyer's Premiums:

From (Incl.)	To (Excl.)	Premium
0.00	Infinite	20%

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This lot is part of the auction: Treasure, World, U.S. Coin & Paper Money Auction 39 Back To Catalog Listing

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From (Incl.)	To (Excl.)	Increment
0.00	50.00	2.00
50.00	100.00	5.00
100.00	200.00	10.00
200.00	300.00	20.00
300.00	500.00	25.00
500.00	1,000.00	50.00
1,000.00	2,000.00	100.00
2,000.00	3,000.00	200.00
3,000.00	5,000.00	250.00
5,000.00	10,000.00	500.00
10,000.00	20,000.00	1,000.00
20,000.00	30,000.00	2,000.00
30,000.00	50,000.00	2,500.00
50,000.00	100,000.00	5,000.00
100,000.00	200,000.00	10,000.00
200,000.00	300,000.00	20,000.00
300,000.00	500,000.00	25,000.00
500,000.00	Infinite	50,000.00

LOT / Treasure, World, U.S. Coin & Paper Money Auc... / NICARAGUA, Granada, 10 centavos, arms countermar...

NICARAGUA, Granada, 10 centavos, arms countermark (1870) on a contemporary counterfeit Potosí, Boliv

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