Lot 1198
Mexico-Republic. 8 Reales, 1827-Pi JS (San Luis Potosi). WR-63; Eliz-801; KM-377.12. 26.95 grams. Cap & Rays type. Eagle and snake on cactus. Reverse: Liberty Cap, with rays behind. Strike very soft at center, otherwise coin choice and clean. With remarkable multicolored toning.
The first year of production of this type for the San Luis mint. An extremely rare and elusive coin. This coin garnered a mystique among Mexican numismatists and collectors of the early ocho reales series. Only 5 or 6 examples are known, with 2 being in low grade, and another 1 or 2 having been holed. Thus only 2 superior grade examples remain, with this coin being one of them. The coin is virtually as struck. Pop 1; 1 in 63. NGC graded MS-60. Estimated Value $20,000 - UP
San Luis Potosi was founded in 1592. The city is named after Saint Louis (Louis IX), of France and the rich mines of Potosi, Bolivia, discovered forty years earlier. Yet the Mexican San Luis owes its success to its own gold and silver mines, which helped finance Spain's New World adventures. Today, the city has close to a million inhabitants.
Illustrated in Money of the World, coin 165.
Ex Goldberg 'Millennia' Sale, 46, May 26, 2008, lot 1126.
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| Realized $12,600 |
