Pedro I ( The Cruel) Real 1350-1368

Over the last few weeks, I have been seriously outbid on some high-grade examples, so I think my eye has become accustomed to better examples. The weight of this one 3.3 grams... MEC reports 3.47g diametre same as a gros tornois: 25mm.

Pedro I was an intriguing character...(FROM MEC) in today's bi-polar ( and polarised) politics he would be a most confusing ruler. He investigated the states fiscal resources, revised the tax exemptions and privileges of the Aristocracy( they weren't too happy with that) Fixed prices and salaries, prohibited begging, made work compulsory for all men and women except for the old, ill and children under 12. He passed laws against banditry. to combat desertification he banned exploitative tree felling. He was a real mix of right and left-wing politics. the aristocracy rebelled against him the first time he was successful. After his death in 1369 (an ambush by his principal rival Henry of Trastamara). His then successful rivals told many negative stories about him, and this is likely when the more usual nickname "the Cruel" came from. It has been more recent historians who have tried to "balance the books" by calling him the just.

I hadn't realised till recently how far back Spains aristocracy-cancer went. Spain poor situation today can be traced back to the entitlements and attitudes of the aristocracy of the middle ages.

@AK, you likely already know, but there is a pretty nice Real listed in the current Agora auction...

This is a comment that could apply to all coins, not just medieval. I have just bowed out of the online bidding for the Seville example being sold by Agora. The bidding at the time of writing is up to US$600.00. That may seem high to some, but it is in keeping with recent sales in Europe. I gave up on bidding on a high-grade Burgos mint example 2-3 weeks ago when the bidding got to €800.00, the coin eventually sold at just over( With BP) €1000. I had noticed with those previous sales that there seemed to be a bidding war going on and the impression I was left with was that the final two bidders were more interested in winning the auction than the coin. I believe they were so focused on winning that they had forgotten to assess how easy the coin is to obtain. I collect the story, I may have (had)a higher budget than some( I recently sold off part of my collection to release funds for purchases more in keeping with my current interests) but I always try to pay what I consider a fair price for a coin, keeping in mind that just around the corner there might be a better opportunity. The example I posted in this thread cost me €172.00. Perhaps I am getting "long-in-the-tooth but I have seen this several times over now; a few determined bidders push the price up ( beyond the coins rarity and story value) the market for that coin then stagnates and in a couple of years, the value drops back to more reasonable levels. What I do is I just stop being in the market for that coin and go on to something else in my hunt list. If it doesn't drop in value it doesn't matter, there are always other better value opportunities. All the Pedro I reals are listed as common in MEC.