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 Replies: 11 / Views: 2,484 |
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Pillar of the Community
United Kingdom
2490 Posts |
Although I'm not a collector of Spanish Colonials, the conversations on this board have fascinated me for the past few years. So, I finally bought this piece just to have one of the type in my collection. With what I've learnt here, it's not a subject for beginners. Lima mint, LIMAE I.J. 2 Reales 1788 for around $14. It's the only one of its type I can forsee buying so I'm hoping I did OK. 
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Pillar of the Community
Canada
5417 Posts |
$14 is pretty good for that coin. I'd say G6/VG8
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Pillar of the Community
United States
1757 Posts |
With the new GNL CC8R book coming out on the Counterfeit 8 Reales you should realize that many of these in circulated grades will be worth similar to the real ones as collectors and advanced collectors will enjoy adding these types to their collections. The off-metals (brass & copper CC8Rs for example) being worth the most.
For two reales like your piece or the Kleeberg CC2Rs of Carolus III, CAROLUS IIII & Fedinand VII (See Stacks C4 Sale in 11/2013: Dave Wnuck Sale) in brass, bronze, copper & german silver (some in silver) start at $100-up. Its the debased silver issues which you need to be careful - always observe/request for the weight.
Something to consider on your #2 piece ... as a counterfeit! COntact me and I can send you the Conolial Newsletter for these CC2R's for FREE! in digital format. Anyone for that matter ...
<BG>
John Lorenzo
United States
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Pillar of the Community
United States
3343 Posts |
What's the weight? I'd expect about 6.5 g for a real one in this condition. The price of $14 seems fair to me as a one-off type coin. Colonial reales don't usually land in the silver melt pile for $5 but sometimes you get lucky.
The weight and size of these 2R's is almost exactly the same as the early US quarters, which mimic the Spanish coins.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/06/2014 1:39 pm
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Pillar of the Community
 United Kingdom
2490 Posts |
I have this as 6.4 gr, 27 mm.
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Pillar of the Community
United States
684 Posts |
This looks ok, although the bust seems excessively weak/worn. Less than 1/5 oz AG. At $30 oz AG I saved these from melt, at $20 ?
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Pillar of the Community
United States
1962 Posts |
Westwood, that's inverted logic! There's a greater inclination to save them from melt at the LOWER silver price (when the numismatic premium is proportionally greater), NOT the higher price... That's a perfectly decent 2R... worn, yes, but honest - MUCH better than a lot of what is out there. It is sensibly worth exactly was paid for it - maybe a bit more on a good day from a full-fledged ebay flipper, or a bit less if the half-butted local Sunday show dealer just wants beer money. It wouldn't (shouldn't) be scrap even at $50/oz. silver... Edited by realeswatcher
01/07/2014 1:45 pm
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Pillar of the Community
United States
1962 Posts |
BTW, it should be said that this piece undoubtedly a "regal" Lima mint product... Note that this is a pretty common date Lima piece... and that the somewhat curious-looking surface (that slightly splotchy tone apparent on the bust) is often observed on Lima portrait reales around this time (across denominations).
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Pillar of the Community
United States
3343 Posts |
I've picked up a couple of cobs in the last year for close to melt. They were in an old dealers notebook marked at old prices, which the dealer didn't adjust. Whether this was ignorance or indifference I don't know but I was happy with the deal.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United Kingdom
2490 Posts |
Than you Gentlemen,this has been most educational.
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Pillar of the Community
United States
1962 Posts |
"Whether this was ignorance or indifference I don't know..."
Probably a bit of both (indifference leads to ignorance?). That's how things can still be found cheaply, but of course it's hit or miss. There are still many U.S. dealers, amazingly in this and age (as has been discussed on here before) that don't care about "foreign coins", including "pieces of eight" (that's correctly pronounced through half a ham sandwich with extra mustard, btw). Never mind that Spanish silver WAS our predominant type of colonial silver...
I'll also say that cobs (and especially shipwreck examples thereof) were up until not that long ago eschewed by many collectors since that often aren't really aesthetically pleasing in the traditional sense. That has, of course, changed...
Edited by realeswatcher
01/07/2014 5:27 pm
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Pillar of the Community
United States
684 Posts |
Hi realeswatcher, you're right, my post in this topic could be interpreted as convoluted.
To explain: With AG at $30, paying $10-15 for a colonial 2R makes sense. With AG at $20, melt $4 for a 2R, more discrimination is needed, IMO. Discrimination as to condition = ? (? from my post), as buying the coin is no longer a no brainer.
These coins are pretty much price inelastic to silver. But as the price of silver drops so does the attractiveness of melting them, as does my desire to save them from melt.
BTW, I now love KM pricing. Go in with some Gilboy notes/references and it is a one sided game.
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Replies: 11 / Views: 2,484 |
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Posted 01/05/2014 8:29 pm
