Description

    Livorno. Cosimo III Tallero 1720 MS64 NGC, KM35, Dav-1500. A stunning Choice Mint State example of this scarce Italian tallero, with beautiful cabinet toning. It would appear that at least two obverse dies were used for this date, one of which has a rather distracting die break right on the date, further adding to the allure of this piece. Though the Krause Standard Catalog of World Coins suggests that this coin is not particularly rare, with a catalog value of just $600 in XF condition, this is one of those clear instances when you have to completely disregard what the catalog says and turn instead towards actual auction appearances and results to determine rarity and value. We have been able to find just four auction appearances of this date in the last twelve years, with the original sale of this piece in 2003 being one of them. When it last crossed the block, in Hess-Divo 298 (22 October 2003), it hammered at an extremely strong 3,800 CHF (or $2,861 at the time), which still remains the highest price ever paid for a coin of this particular date. Nonetheless, it seems to have been a very wise purchase. Indeed, in 2009 we sold another example of this type (dated 1711), also graded MS64 by NGC, for an amazing $8,625, which remains the highest price ever paid for this type of any date. That is likely the closest comparable result one could find in order to estimate this piece. As the market for high grade European crowns has only increased in the interim six years, we expect that record to be matched, if not surpassed, today.

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    Auction Info

    Auction Dates
    August, 2015
    13th Thursday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
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