LOT / Treasure & World Coin Floor Auction #18 / Potosi, Bolivia, cob 8 reales, 1647R (Ramirez), ...

635

Potosi, Bolivia, cob 8 reales, 1647R (Ramirez), debased silver, extremely rare, ex-Faistauer.

Currency:USD Category:Coins & Paper Money / Cobs - Potosi Silver Start Price:3,500.00 USD Estimated At:5,000.00 - 10,000.00 USD

SOLD
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This item SOLD at 2015 Oct 29 @ 18:10UTC-4 : AST/EDT

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All items are genuine unless noted. Most shipwreck coins and artifacts come with a certificate of authenticity (please check the description for each item). By bidding in this auction you understand and agree to the Terms and Conditions posted here.

Lot Description
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BP, Taxes & Fees
Shipping & Payment
Terms

Potosi, Bolivia, cob 8 reales, 1647R (Ramirez), debased silver, extremely rare, ex-Faistauer. S-P31; KM-19a; CT-unl. 26.00 grams. This is probably the most exciting Potosi shield-type 8R we have ever handled, as it is virtually the "smoking gun" of the debasement scandal that resulted in a global crisis and the eventual execution of its perpetrators, most notably the assayer Ramirez, whose initial R stands out so clearly and boldly on this coin. In fact, almost everything on this coin is visible, particularly the full and bold date in the nearly full legend, in addition to the full shield and cross that are much more evenly struck than usual. Overall, the coin seems almost like a failed "Royal" striking, with no other Royals of this assayer known to compare it to. Perhaps most interesting of all, confirmed by its dull color and slightly low weight, is this coin's measured specific gravity of 9.49, which is closer to nickel (8.90) than to silver (10.50). Broad-flan VF, nicely toned, with desirable pedigree as well, and by our records a unique combination of date and assayer (as the only other 1647 8R known are T, TR or Z, with an additional specimen with clear Z/R dated 1648, the year Ramirez was officially replaced with Zambrano as assayer). Pedigreed to the Faistauer collection (Jess Peters, April 1976, lot #301). 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	17.5%

Additional Fees:

No data available.

No data available.

TERMS AND CONDITIONS

By participating in this auction, you (hereafter referred to as the “Bidder”) are entering into a binding contract with Daniel Frank Sedwick, LLC (“Auctioneer”) and agree to the following Terms and Conditions:

1) Each lot will be sold to the highest Bidder unless the reserve or starting price is not met. Bids may be submitted in person or by mail, telephone, fax, email, or live on the Internet until each lot is closed during the live session. All non-live bids must be received before the auction session begins. The Auctioneer or any of its employees individually cannot be responsible for errors in bidding or the loss or delay of any bids that do not reach us by the closing date and time, or for any technical glitches that prevent internet bids from being executed. All bidders must be registered before their bids will be entered. All bids are in U.S. dollars.
2) Winning bids will be reduced automatically by the iCollector platform to the next increment above the second-highest bid. In the case of tie bids, the earliest bidder will win the lot. Bidders are advised to provide allowable percentage increases to avoid losing lots due to a tie.
3) A winning bid is contract between the winning Bidder (hereafter referred to as the “Buyer”) and the Consignor. The Buyer, even if acting as an agent for someone else, agrees to purchase the lot(s) he has won and to pay the Buyer’s Premium and any shipping costs, sales tax, bank-wire fees, customs duties, or other surcharges involved in delivering the lot(s) to the Buyer. Certain lots (particularly artifacts) may require special packaging and handling, for which a surcharge will be levied (also note shipping calculations will delay invoicing). In some special cases delivery may be arranged directly between the Consignor and the Buyer, at the buyer’s cost. At no time shall the Buyer have any legal recourse against the Consignor for any reason. Buyers will be notified as soon as possible after the sale with an invoice reflecting the total amount due and shall remit payment within two weeks of notification or within one month of the date of the first session of the auction, whichever is sooner. Buyers who do not receive notification for whatever reason are NOT released from their obligation to pay on time. If payment has not been received within these terms, the Auctioneer reserves the right to sell the lot(s) to any under-bidders for their lower bid amounts. Title to each lot does not pass until the item has been paid in full. Any late payments (one month past invoice date) will be assessed an accrued interest charge of 2% per month.
4) Lot pickup will be available after the auction (not during). Any lots not picked up in person (unless other arrangements are made) will be sent to Buyers via U.S. Mail when the invoice has been paid in full. All domestic shipments will carry full insurance, but foreign shipments are made at the Buyer’s risk (insurance available in some cases). Daniel Frank Sedwick, LLC is responsible for loss or damage to lots only up until they are received at the address to which they are sent; any transshipment from there is the buyer’s responsibility alone. Any special instructions for shipping, delivery or payment must be in writing (letter, fax, email or text) and will be effective only upon confirmation by us (verbal requests may not be honored). Generally, lots will be shipped in the order in which they are paid.
5) A Buyer’s Premium of 19.5% will be added to the winning bid for the total purchase price before any applicable tax or surcharges. Buyers who pay by cash, check, money order, wire transfer or direct deposit are eligible for a reduction of the Buyer’s Premium by 2% (net 17.5%).
6) Acceptable forms of payment are cash, check, money order, wire transfer, direct deposit, PayPal, Visa/MC, American Express and Discover. All payments by check or money order should be made payable to Daniel Frank Sedwick, LLC. Payments by PayPal (to auction@sedwickcoins.com) are limited to $2,500 per auction per buyer. All payments shall be in U.S. dollars drawn on a U.S. bank. Please contact us for instructions for wire-transfer payments, for which bank charges may be necessarily added to the amount to be paid, generally depending on the country from which the wire originates.
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8) You may opt for “either/or” and/or “total budget” bids on your bid sheet. “Either/or” bids are used when you want just one (or whatever number you specify) of two or more lots but it does not matter which of those lots you get. “Total budget” bids are used when you are bidding on more lots than you expect to win and do not wish to spend more than a specified amount. Both options are subject to a minimum of $5,000 total in bids and “either/or” bids are additionally subject to a minimum of $100 per lot (below that, bidders should bid live on the Internet instead). These options are not available for bids submitted via iCollector (either live or by proxy).
9) Most lots are unreserved, but some lots do have a reserve or minimum bid assigned by the consignor. Any reserve will generally be at or below the stated low estimate and starting price. All estimates are given in U.S. dollars.
10) As an active dealer, Daniel Frank Sedwick, LLC is able to estimate a reasonably low wholesale level for each lot and reserves the right to reject any bids below this level (generally at least 70% of low estimate). Furthermore we reserve the right to reject any bids that we have reason to believe are not submitted in good faith. Starting bids are provided on iCollector when the auction is published, and bids below those starting bids cannot be entered. Prices realized do not necessarily reflect accurate market values so much as what the high bidder is willing to pay based on his own needs.
11) All items are guaranteed genuine and as described. Daniel Frank Sedwick, LLC does NOT guarantee that any lots can be successfully encapsulated. Auctions are NOT approval sales, and therefore returns will NOT be accepted UNLESS there was an error in the listing. Note that grading and estimation of corrosion are subjective and differences of opinion cannot be considered errors. Lots encapsulated by PCGS, NGC or any other third-party company may not be returned for any reason. Disputes as to authenticity shall be resolved by submission to PCGS or NGC, and if their determination is inconclusive, then the opinion of Daniel Frank Sedwick, LLC shall stand. Any disputes, including proposed returns, must be brought to our attention no later than 2 days after receipt of the lot(s) by the Buyer and BEFORE return shipment to us, with any applicable refunds to be made immediately upon receipt of the returned item(s) by us. All returns must be received by us in unaltered condition and in their original, unopened, sealed flips no later than one month after the date of the first auction session (note that late remittance, therefore, can negate return privileges). Any refunds for returns paid for by credit card will be subject to a 3% return fee. In the event of loss or damage, Daniel Frank Sedwick, LLC’s liability shall be limited to the hammer price plus buyer’s fee only. NGC or PCGS census data (“finest known,” etc.) are given based on the date of cataloging and are not presumed to be accurate forever.
12) In case of loss or theft the guaranty is limited to either the reserve price (if unsold) or the hammer price plus buyer’s fee (if sold). Any extra expenses incurred by the winning bidder or consignor in order to bid, inspect, consign or pick up the lots are not covered and are the sole responsibility of the winning bidder/consignor. Any potential or speculative value is not guaranteed.
13) Lots may be inspected before the auction at our private office in Winter Park by appointment only during our office hours of Monday through Friday, 10 a.m. to 4 p.m. High-quality photos of all items are viewable on our website and on iCollector 24 hours a day, 7 days a week. All photographs in the catalog and online are of the actual lots being sold but may not be actual size or to scale. Color and brightness of online photos may vary according to your monitor and video-card specifications.
14) If buyer does not supply a Florida resale certificate, then Florida sales tax will apply as follows: If picked up in person, 6.5% will be added to the total (hammer plus buyer’s fee) for all items that are NOT coins or bullion, and to all non-U.S. coins whose total is less than $500. Same applies to lots shipped to Florida addresses, but the rate (6% to 7.5%) will be according to county of delivery. There is no Florida sales tax on U.S coins or on any lots shipped out of state.
15) All bidders and consignors acknowledge and agree that the Auctioneer (Daniel Frank Sedwick, LLC) does NOT guarantee that auctions will be unimpaired, uninterrupted or error-free and accordingly shall not be liable for such eventualities. Any errors in the printed catalog will be rectified on the website and iCollector as they come to our attention, and those corrected listings shall be deemed the binding descriptions at the time of the auction. The Auctioneer in its sole and absolute discretion may accept or decline any bid, remove bids and reopen bidding, withdraw lots, or change lot sequence or bidding increments at any time, even after the winning bid and winning bidder have been announced. Any bidding disputes shall be adjudicated by the Auctioneer, whose decision shall be deemed binding and final.
16) This auction is conducted in accordance with the auction laws of the State of Florida. The licensed auctioneer is Daniel Frank Sedwick, AU#3635, AB#2592. The Auctioneer and Bidder agree that the venue for all claims and disputes shall be the applicable court having jurisdiction in Orange County in the State of Florida, and that the prevailing party shall be entitled to all attorneys’ fees and costs. THE BIDDER AGREES TO WAIVE THE RIGHT TO A JURY TRIAL.

This lot is part of the auction: Treasure & World Coin Floor Auction #18 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	Infinite	2,500.00

LOT / Treasure & World Coin Floor Auction #18 / Potosi, Bolivia, cob 8 reales, 1647R (Ramirez), ...

Potosi, Bolivia, cob 8 reales, 1647R (Ramirez), debased silver, extremely rare, ex-Faistauer.

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