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Lot
5025

1818 1/2RL New Spain (Texas) Jola Half Real, Large Planchet ...

2003 November Signature Sale #334

 
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Auction Ended On: Nov 7, 2003
Item Activity: 8 Internet/mail/phone bidders
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Location: New York, NY
Description:
Rare and Important 1818 Texas Jola Half Real
1818 1/2RL New Spain (Texas) Jola Half Real, Large Planchet XF40 NGC. In 27 years in the auction business, this is only the second Texas jola we have offered for sale. The first example we sold in our 2002 FUN Auction--the finest known--and it realized an impressive $23,000. This piece is a couple of steps down from that incredible coin, but it is, nevertheless, a very rare and valuable memento from Spanish Texas. These colonial coins were produced in what is now San Antonio on the order of Lt. Col. Manuel Prado. Prado authorized that some 8,000 coins should be struck in March of 1817. None of these pieces are known today. If any should turn up they would have the 1817 date as well as the initials of Manuel Barrera. The few coins that are known bear the 1818 date and the initials of Jose Antonio de la Garza (JAG). The denomination (1/2) is sideways between JAG and the date, and the reverse has what may be the first appearance of the Lone Star to represent Texas. The significance of these coins, of course, is that they are the only Spanish colonial coin issued in Spanish America, which as a reminder, covers all the southwestern states from Texas to California.
Very few jolas are known, probably fewer than 100 in all grades, most of which came from a hoard of about 60 pieces discovered on the banks of the San Antonio River in 1959. Almost all of the known examples show some degree of corrosion from having been buried for 150 years. This is a well centered coin with even brown patina and moderately corroded surfaces. The only striking deficiency is weakness on the second 8 in the date. The Texas jola is an issue that, if we can borrow a term from the music industry, has "crossover" potential. It appeals to U.S. colonial coin collectors, collectors of Mexican numismatics or Spanish colonial issues, as well Texas numismatists no matter what their numismatic specialty. A rare opportunity to acquire this important colonial coin.(#660) (PCGS# 660)

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