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    Finest of Three Known Examples

    Charles IV gold 2 Escudos 1789 Mo-FM XF40 NGC, Mexico City mint, KM131, Cal-354. Wholesome and attractive for the assigned grade with even, limited wear on the higher points, the expected contact marks on the surfaces and some luster remaining in the recessed areas. The transitional series of Charles IV issued in 1789 and 1790 with the CAROLUS IV legend and the Charles III bust include two very rare types that are generally overlooked - namely the 1 and 2 Escudos with that design - while the 4 Escudos of the series is recognized as very scarce to rare. Mintages of these minor denominations had remained unpublished but recent research by Carlos Jara indicates mintage figures for the 1789-dated minor gold coins - all of the aforementioned transitional type - as follows: 4 Escudos (1428 coins), 2 Escudos (578 coins), 1 Escudo (408 coins). These meagre amounts serve to explain the high rarity of the last two denominations, and the scarcity of the 4 Escudos one. Mintages for the 1790 date were in the same ballpark albeit a tad higher. Consequently, 1790-dated coins of the CAROLUS IV transitional type are similar in rarity to the 1789-dated ones for the minor denominations of 4, 2 and 1 Escudo(s) - note that the 1790 mintages include - for the 4 and 8 Escudos denominations - the amounts minted for the transitional type with CAROLUS IIII in the legend as well.The Rudman collection includes a complete date set of the 1789-1790 transitional 1 and 2 Escudos, another - among many - unprecedented numismatic feat. While the true rarity of the 2 Escudos "CAROLUS IV" issue has been thrown into the numismatic community's limelight by the high final selling prices of the only two offerings in the past 10 years (for more details, see our description of the following lots), the companion 1 Escudo denomination has been generally overlooked as a significant rarity, with noted recent public offerings including a low grade 1789 dated-coin failing to reach a significant price (UBS 9/2004, lot 3073 for CHF325) and the superb ex-Caballero de las Yndias 1790-dated coin (Aureo 4/2009, lot for a bargain E1,300). Time will tell whether this will remain so.

    The excessively rare first date of this very rare type, with only two other specimens known to the cataloguer, both in noticeably lower grades and one of which sold in 2012 (Stack's Bowers and Ponterio 8/2012, lot 40262, XF Details (plugged) PCGS hammered for $7,500). One of the very few Spanish Colonial milled gold types missing in the Banco de Mexico collection. Likely the finest known of this key-type (see following lot for the other candidate!), and sure to elicit strong bidding attention.
    From The Rudman Collection of Mexican Coins

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    Auction Info

    Auction Dates
    August, 2015
    13th Thursday
    Bids + Registered Phone Bidders: 4
    Lot Tracking Activity: N/A
    Page Views: 1,244

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