Mexico: Republic 8 Reales 1827 Pi-JS MS63 NGC, ...

Description

Incredible Key Date San Luis Potosi Cap & Ray

Republic 8 Reales 1827 Pi-JS MS63 NGC, San Luis Potosi mint, KM377.12, DP-Pi02 ("Excessively Rare"), Elizondo-801. The mint in the city of San Luis Potosi, in the heart of central Mexico, opened late in 1827, and struck 8 Reales almost without interruption until the mint's closing in May of 1893. In its opening year, the year this coin was minted, very few coins were struck at the mint--among those struck were two different (and extremely rare) varieties.

Juan Sanabria, the mint's assayer from 1827 to 1842, designed the first type with his signature "Sa" immediately to the right of the mint mark (Pi), and left of the date, but soon this style of annotation was replaced by "JS" as the assayer's signature moved to the right of the date. The initials were moved probably "to conform with the law and the coins being issued by the other mints," as authors Dunigan and Parker state in their book (page 347). The first version produced a more balanced legend, placing the date centered at the bottom, beneath the cap in the exergual location. It gave the coin a more aesthetic appearance, or so we must assume was the engraver's intention. But the second stylistic version conformed to the standard, and from then on the mint at San Luis Potosi produced 8 Reales of this style.

The coin presented here may well be the finest extant specimen. Its surfaces are completely original, exhibiting a fine old cabinet patina, a well-set yet delicate silvery gray toning enhanced by a pleasing hint of russet color. The strike is compelling, the design is well centered within deep and broad denticles that are incredibly uniform (compare the plate coins for reference!), the high rims are virtually without blemish, and even the edge is not corroded or stained but fresh and unspoiled. The eagle is just about fully struck (from dies of shallow engraving), and the rays surrounding the cap are uniformly sharp in strike, and well detailed. There is a diagnostic, squarish mark near the right top of the cap, and a fine die break snakes through the four longest rays on the left, just touching the top of the 8 and curling down through the date to end exactly under the 7. The eagle's beak pierces the snake, while the serpent seems to be peering back at the eagle in distress. The eagle's eye is clear, but void, while the snake's eye is actually crisp in detail! Sanabria captured this classic motif just superbly.

All in all, the visual aesthetic here, even in natural or dull light, is "splendid"! And what about the concept of opportunity, or "rarity" if you will? If you are a collector of 8 Reales, chances are you need this issue. If you collect Mexican coins just by type, or Latin American by type, or world crowns that simply "speak to" collectors for their importance, or for their beauty, this coin has to figure among the most exciting coins in existence. Its historical significance in Latin American numismatics cannot be overstated. As such, it could be the centerpiece of any advanced collection, of any of the styles of collecting just listed. If you are a scholar of Mexican numismatics, you understand this coin instinctively. For one and all, here is a simply extraordinary coin worthy of close inspection, and sure to elicit spirited bidding -- for it is a masterpiece in Mexican silver!

Ex. Heritage Auction 3004 (January 2009, Lot 21925)

From the Eternal Collection, Part II

Metal: Silver
Diameter: 38.9mm
Weight: 27.07g
ASW: 0.7859oz

More information about Mexican Coins. See also: Mexico World Coin Nationality.



View all of [The Eternal Collection, Part II ]

View Certification Details from NGC