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How Often Do Identical Die Varieties From 1815 Appear?

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swamperbob's Avatar
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5362 Posts
 Posted 03/15/2015  8:18 pm Show Profile   Bookmark this topic Add swamperbob to your friends list Get a Link to this Message Number of Subscribers
I had collected bust half dollars for a considerable period during the 1970s and found Overton's work with die varieties fascinating. I assembled well over 100 varieties (real and counterfeit).

After some time doing that I wondered if Mexican 8Rs could be identified in the same way.

I started with a few very common dates 1832-1836 Zs 8 reales coins. I quickly concluded that finding identical die varieties was much harder than I ever expected.

I examined many, many hundreds of coins and discovered there were many more different die types than identical dies. So I discussed my project with Dave O'Harrow author of Hooknecks. He indicated that my proposed project was nearly impossible. His reasoning was simple and therefore elegant as far as a scientific theory goes.

The Mexican 8 Reales were produced as bullion export coins and the majority of these exports were eventually melted. He postulated that dies were shorter lived than those of the US bust half dollars and that the survival rates were far lower. He also indicated it was generally well known that many entire die outputs (sometimes almost all production from one year) were shipped overseas as bullion.

So I did some comparisons based on mint outputs starting with Overton. I can recreate the thought process. Look at 1822 - Overton indicates a mintage of 1,559,000 coins which was created with 14 obverse and 14 reverse dies. There were actually 15 different die marriages used.

Some clear inferences can be drawn from the manufacture - first is that dollar coins need more striking force than half dollars. Although the silver in both cases is the same there is actually MORE pressure needed for a larger diameter strike - not 100% more but a significant amount.

Second most Bust Half dollars were retired and retained by banks after 1853 so the period of circulation of bust halves was short. This means survival rates for bust halves was high.

I came to believe that when you see more than one copy of the identical die type (in close proximity) you need to be extra cautious that you are not being fooled by multiple copies of numismatic forgeries. Many authenticators use the same technique to spot counterfeits - no news there.

So here is my observation. I noticed that in one cycle of ebay (10 days) that three 1815 Lima Peru 8Rs were posted. This is not typical. But when I looked at the dies I noticed that two were from the same dies.

Here are the two coins:

http://www.ebay.com/itm/331500300137

http://www.ebay.com/itm/EXCELLENT-H...371282686050

Does anyone else have comments? What do you think?

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RockyRoad's Avatar
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63 Posts
 Posted 03/16/2015  01:23 am  Show Profile   Bookmark this reply Add RockyRoad to your friends list Get a Link to this Reply
To me they both appear to have come from the same mold. Even with my limited knowledge of coin minting processes I can't imagine that these two coins were struck.
On the reverse, the left ribbon termination at the shield, the leftovers in the field to the right of the crown and the extra metal around the letters match on both coins and look like extremely poor mold work.
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swamperbob's Avatar
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 Posted 03/16/2015  11:31 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
RockyRoad I agree with you - that was exactly my take on the coins. Not proof but a very high probability.
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 Posted 03/18/2015  9:12 pm  Show Profile   Bookmark this reply Add realeswatcher to your friends list Get a Link to this Reply
Gotta breathe in that non-Mexico air once in a while... As discussed before, planchet issues (whether attributable to alloying and/or annealing... or dies/striking... or both) abound in the Lima portrait output, with certain issues (like the weird rim fissures seen on many 8R) dating back to the CharIIII pieces. You also observe that Lima planchet weights in this period (and also into the post-colonial Lima reales coinage) don't seem to have been as precise as the Mexican issues.

http://coins.ha.com/itm/peru/world-.../458-52013.s

http://coins.ha.com/itm/peru/world-...3000-52502.s

http://coins.ha.com/itm/peru/world-...1446-62313.s

http://coins.ha.com/itm/peru/world-...1250-62129.s



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 Posted 03/18/2015  11:36 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
realeswatcher Are you aware of any reports of a hoard from 1815 being discovered? These coins are not only struck from the same dies but dies in the same near terminal state of wear. That is far from typical with any coin unless there is a hoard - like a lost shipment from the mint.

I wondered how many dollar sized coins could be produced from one die pair in Lima in 1815. So I did more research. Bust half dollar mintage figures support that in the US about 100,000 to 200,000 coins could be produced per die pair. Dollar coins and half dollar production statistics seem to support very similar output figures per die for both size coins.

If typical production rates (for a manual screw press) of 15-20 coins per minute could be sustained for a 12 hour work day, one die pair could produce a lifetime output in roughly two weeks time (at maximum output rates) or twice as long at lower rates. The 1815 Lima output of 1,500,000 coins needed fewer than 20 die pairs to complete.

All of the coins (the two I listed from ebay and the 4 from Heritage) were all produced after Die Deterioration was near terminal. So all six coins were produced on the same press with the same die pair within a few days of one another at the very most.

Survival of so many coins in high grades with little post strike wear and no damage makes me suspicious if they did not come from a hoard. I just wish that someone had tested the coins scientifically before encapsulating them. None of the TPGs routinely weighs coins. Density and alloy determined by XRF would be interesting.




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1962 Posts
 Posted 03/19/2015  01:23 am  Show Profile   Bookmark this reply Add realeswatcher to your friends list Get a Link to this Reply
I don't have specific knowledge of any hoard of that date, or "dates around that date" specifically... though there are at least a few hoards I'm aware of which yielded 1800s ("18-aughts") Char4 and a bit earlier.

In general, though, there are lots and lots of strong XF and better Lima Ferd VII 8R out there... say, the 1813-1821 dates... MUCH MORE, proportionally, than for the Mexico Ferd VII proper bust 8R. Actually odd to find a heavily worn example... If you look at the other material these pieces surface with, certain shared production flaws (plata agria like I've talked about before on the 1820 to a lesser extent several surrounding dates... rim issues, etc.), chunks of encrustation or heavy tone along the edges - let alone seeing specimens in hand - there's nothing to suggest they are anything but genuine mint product... and presumably there have been numerous small cache discoveries. I would also gather that some may actually emanate from Spain in addition to South American finds... Cayon & Aureo/Calico have offered many - perhaps Royalist Creole wealth that ran to the motherland when things started going the wrong way in the Revolucion? Who knows.

Couple more examples (lots out there):
-- this one has the same features... plus soft central imprint AND some adjustment marks!:
http://www.goldbergcoins.com/view-a...9/lot/50035/

-- another, just off UNC... good luster overall but some cloudy areas which likely reflect stripped-off splotchy tone:
http://www.sixbid.com/browse.html?a...&lot=1321089

-- as an interesting compare/contrast point... this piece. Not the same obvious die state markers... but note the spots of (mostly) peripheral deep toning - probably sat a while... a few adjustment lines (crown, etc)... some slight surface bubbling sort of like on those late die state pieces (see around REX).

http://www.acsearch.info/search.html?id=2118952

Also, at 6:00, note that "rim fissure" effect I mentioned... some of the denticles intact right at the rim, then a chasm. I don't know what that was, exactly... but you see it back into the 1780s and 1790s, specifically on Lima mint pieces. The presence of that same effect on many 2R that I've seen shows that it came from within the mint.

Just quickly... see a clear example of this effect on the 1796 and 1801 in the 2R group... and along GRATIA on the 1804 (on a completely goofy-shaped planchet... not the first time I've seen that on Lima either, at least to some extent):
http://www.acsearch.info/search.html?id=431204
http://www.acsearch.info/search.html?id=1521893
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 Posted 03/19/2015  01:47 am  Show Profile   Bookmark this reply Add realeswatcher to your friends list Get a Link to this Reply
Similar fatigue signs around the periphery on this pair of 1816:
http://www.acsearch.info/search.html?id=1256923
http://www.acsearch.info/search.html?id=1892086
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 Posted 03/19/2015  6:31 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
In researching material for my book - specifically the issue of the manufacture of silver restrikes for the China trade, I discovered numerous reports regarding the fabrication of 8Rs at later dates to meet trade needs. I focused on the issues of Mexico because it was in my opinion the easiest to prove because of the extremely high premiums paid for Mexican 8Rs. The average for the period 1830 to 1930 was 25% over silver melt value.

However, in addition to the numerous citations for Mexican 8Rs there were others more cryptic that mentioned other uses for restrikes. The Philippines adopted the Spanish-American 8R as a national currency long after the coin left normal circulation. Several citations in the book indicate that the premium for Carolus issues was higher than Ferdinand issues. Sources discovered since I wrote the book confirm a 4% premium on the coins of Fedinand and do not differentiate between the various mints.

I have not found enough proof to do more than speculate that Lima issues may have been restruck when silver demand plummeted on world markets. It is worth researching to see if there is a trace marker in silver from Peru that would have been removed by parting techniques used after 1870. Since I focused on Mexico it is an open field.

The only mint unlikely to have been accepted in China were the coins of Bolivia. There are indications that Bolivian coins were simply unacceptable unless a discount below melt value was applied.

The Bolivian 8R fell into the same grouping as the US Trade dollar.

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