Santiago, Chile, pattern 1 peso, 1819, extremely rare, NGC AU 58.

Currency:USD Category:Coins & Paper Money / World Coins - World (A-G) Start Price:12,000.00 USD Estimated At:15,000.00 - 30,000.00 USD
Santiago, Chile, pattern 1 peso, 1819, extremely rare, NGC AU 58.
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This item SOLD at 2020 Nov 18 @ 11:37UTC-5 : EST/CDT
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Santiago, Chile, pattern 1 peso, 1819, extremely rare, NGC AU 58. KM-Pn1. This lovely issue is widely regarded as the most important and desirable pattern of Chile, commissioned by the director of the Santiago mint, J. S. Portales, but ultimately rejected in favor of a continuation of the prior "volcano peso" design, which was simpler to engrave. J.T. Medina, in his landmark work, Las Monedas Chilenas (1902), illustrates and eloquently describes this pattern (on page 179, not page 127 as stated in other auction listings), comparing to the previous design, as thus (our translation): "The attributes and the legend of the obverse were preserved, being stamped on a ribbon terminating in a buckle; in addition to the ordinary border, groups of eight parallel lines in pyramidal shapes were designed; the assayer's initial was probably to be placed at the base of the column, on the left, in an extremely tiny capital letter [next to an existing M on the right]; at the same time the hemisphere [crowning the column] had been enormously enlarged, which was thus completely disproportionate. On the reverse [was] the same layout for the legend, in a simply striated band; identical border; much better drawing and engraving of the mountains and volcanoes; the exergue bearing the date, which on ordinary coins was found on the obverse, at the foot of the column." Note that Medina considered the column side to be the obverse. Four examples are currently known, all of which are graded, of which this is the second finest. The two most recent sales are the ex-Medina/Tarapaca collection example (AU50 PCGS) which hammered for $16,000 in 2016, and an MS 62 NGC (finest) which hammered for $24,000 in 2013. The present specimen is most attractive for the assigned grade, including near intact mint luster with contrasting toning and only faint friction evidence on the highest points of the devices and slight as-made crudeness of rims (as it was a non-circulating pattern, after all). A most desirable piece, worthy of the most advanced Latin American or Chilean cabinet. NGC #5906063-003.