1714 Mexico Presentation 8 Escudos, Easily The Finest Known, PCGS MS-66, Sold For $312,000

PCGS - Noted on the label as Royal Coinage, it's believed this, and other coins were struck in Mexico, Bolivia, and Peru to be presented to Spanish dignitaries and royalty as a symbol of Spain's successful colonial expansion. The ships carrying the coins were sunk in a hurricane in 1715, with many of the pieces being recovered over the last 50 years. A very rare piece of shipwreck gold, this 1714 Mexico Presentation 8 Escudos, easily the finest known (PCGS MS66) sold for $312,000 over the weekend.





Fr-7; KM-R57.3; Onza-397 (plate coin); Onza Main-389 (1986, plate coin); Cal-Type 18 #91 (plate coin); Grove-888, Cayon-9945. Weight: 26.90 gms. Of the HIGHEST RARITY, this impressive and captivating "royal" presentation issue exhibits a perfectly centered, bold strike upon a planchet free from impurities while also offering intense yellow-gold hues and incredible mint luster. While offerings are quite infrequent, we note the recent sale of a slightly inferior example, known as the Caballero de las Yndias and Ubilla-Echevez specimen, that hammered at the equivalent of over $265,000 (before buyer's premium) in March 2020.