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    Description

    Republic Cap & Ray 8 Reales 1827 Pi-JS, San Luis Potosi mint, KM377.12, DP-Pi02, AU50 PCGS. The first year of issuance for the San Luis Potosi mint and long acknowledged as a major rarity of the entire Cap & Ray series with Dunigan and Parker estimating in Resplandores that only about half a dozen examples of this type exist. Most survivors are heavily worn, averaging around Fine, with the two Resplandores plate coins being prime examples; one is VF and the other is a holed Fine. A couple examples are also mentioned as being around the EF and AU grades, and we can't help but think that the present coin represents one of those. Certainly among the finest known (and depending on one's appreciation of tone, perhaps the most attractive), this specimen showcases deeply toned surfaces that hold a gorgeous mixture of antique gold, orange and red color on both sides. As a result of high rims, no post-strike marks are evident. Like all survivors, the central strike remains incomplete, but unlike the Millennia Collection specimen (graded MS60 by NGC and hammered at $19,000 plus the buyer's fee) that had nearly entirely blunted centers, the current piece has a sharp LIBERTAD on the cap and all but the very highest points of the eagle's feathers remain defined. In fact, when doing a condition census of the type, one would have to place the MS63 that we sold for $63,250 at the top, but the present coin makes a very compelling case for the second finest known given its obvious strike advantage over the Millennia coin. All told, an extremely important opportunity for the Mexican specialist and a coin that, once sold, is sure to stay off the market for many years to come.

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    Auction Info

    Auction Dates
    January, 2014
    5th-6th Sunday-Monday
    Bids + Registered Phone Bidders: 5
    Lot Tracking Activity: N/A
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    Due completely to Heritage's thoroughly diligent and professional management and promotion of the collection, the faraday Collection stirred national attention among numismatists and the auction results brought a gross value greater than that last estimated by the experienced collector.
    The Estate of David M. Faraday ,
    San Rafael, CA
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