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Potosi, Bolivia, cob 8 reales Royal (galano), 1653E, dot-PH-dot at top, rare, NGC AU 55 (finest know

Currency:USD Category:Coins & Paper Money / Cobs - Potosi Silver Start Price:15,000.00 USD Estimated At:25,000.00 - 50,000.00 USD
Potosi, Bolivia, cob 8 reales Royal (galano), 1653E, dot-PH-dot at top, rare, NGC AU 55 (finest know
SOLD
37,500.00USD+ (7,500.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Nov 17 @ 23:35UTC-5 : EST/CDT
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Potosi, Bolivia, cob 8 reales Royal (galano), 1653E, dot-PH-dot at top, rare, NGC AU 55 (finest known), ex-Americas (color plate), ex-Ortiz (cover), Sellschopp Plate Coin (2nd ed.). S-P37a; KM-R21; Cal-1412. 27.32 grams. As stated for the Mexican 8 escudos Royal 1713 in this auction (lot 21), even among Royals there is variation in quality, and like that gold piece, this one is among the very best. Not only is it very rare as unholed, but it is also exceptional grade (the best by far), with lovely rich toning all over, perfectly centered on a broad and perfectly round flan, all details strong and evenly struck. The cross side is a die-match with Lazaro #136, but the pillars side does not match any other known specimens. Naturally its modern pedigree is quite admirable, but there is more: Documentary research published in Murray unveils the actual identities of some of the people who commissioned the manufacture of these very rare pieces, and for the specific year 1653 we see that Dr. Francisco de Nestares Marin, President of the Audiencia of Charcas, commissioned 265 pesos in galanos from assayer Antonio de Elgueta. It is well known that Dr. Nestares Marin was the royal inspector who put an end to the fraud in Potosí, ordered the recall and devaluation of dubious currency and carried out the change in design for the cobs of Potosi. How enticing that this beautiful coin could have been originally made for such an illustrious figure in Spanish colonial history! Pedigreed to the "Americas" collection (Kagin's auction of August 1983, lot #1180, color plate) and the Emilio Ortiz collection (Swiss Bank Corporation auction of September 1991, lot #82, plated on catalog cover), also Plate Coin in the 2nd ed. (1992) of Sellschopp's Las acunaciones de las cecas de Lima, La Plata y Potosi. NGC #5902400-007.