8 escudos 1702, Mexico, “Royal”

8 escudos 1702, Mexico, “Royal”

8 escudos 1702 Mexico Royal

Period: Baroque

Country: Mexico

Ruler: Philip V

Denomination: 8 escudos

Mint: Mexico

Quality: Uncirculated (S/C)

Auction house: Áureo & Calicó

Date: 8 March 2018

Starting price: 90.000 euros

Historical context

Last year we talked about a gold cob that was rescued from the 1715 Florida shipwreck. Here we have another 8 escudos from this shipwreck, but this is one of the few considered to be “Royal” type, a type that was only minted in Mexico.

Current dealers call these rounded and well-shaped coins (you can compare it with other 8 escudos from Mexico) “Royal” and they say that they were struck to be presented at the Royalty. However, as far as I know, there is not a single historical evidence that these coins were meant to be present to the Spanish King. In fact, Glenn Murray published a book where he included his research related to the so-called “Royals” from Potosí and his conclusion was that they were especially made for precious metal dealers who wanted to resell them for a higher price. Hence, even if the numismatic market calls them “Royals”, the collectors should not forget that they had nothing to do with the King.

Market

8 escudos “Royals” are probably the most impressive -and for sure the most expensive- of all Spanish colonial coins. They are all really beautiful, most of the specimens known are very well preserved and most of them come from the same shipwreck. We know 8 escudos “Royals” from 13 different dates. Some of these dates present specimens that are considered unique, while for other dates a few specimens are known to exist (such as 1702). Summing them all, there are no more than 50 specimens known.
Regarding the price, the best reference is this specimen hammered by the same auction house in 2015 for 210.000 euros. In the Caballero Collection (2009) a similar specimen was sold for 150.000 euros. However, all the other uncirculated 8 escudos “Royals” in the Caballero Collection were hammered for 190.000 euros or more. Therefore, I consider that the specimen that is now offered worths at least 200.000 euros.

Description from the seller

1702. Felipe V. México. L. 8 escudos. (Cal. 87) (Cal.Onza 377). 26,97 g. Acuñación para presentación real. Procedente del Tesoro de la Florida. Bellísma. Brillo original. Extraordinariamente rara. S/C.

Source

2 Comments

  1. Alfredo Chàvez MacìasNo Gravatar 2 weeks ago

    Beautiful coin, but I think is not wort all this money.

  2. DavidNo Gravatar 2 weeks ago

    Aprovecho esta entrada pues lei lo de los escasos cunos medievales y queria saber si del diglo 16 , 17 y 18 son tan escasos tambien en las principales cecas europeas ? Hace tiempo, lei un articulo sobre una reacunacion de un motivo ecuestre de caballero por parte de Holanda y Austria , a modo de competencia , en esa misma decada del 60 tambien emitio un restricke de un hermoso motivo ecuestre de una moneda original de 1642 en plata y oro. Seria muy bueno que hicieran restrickes de otras hermosas monedas de antes pero siendo originales de su propio pais.

Leave a reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>