Chile 1758-So J 8 reales

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Goldberg sale 46, lot 984
photo courtesy Ira & Larry Goldberg
the Stack's Bowers 2020 NYINC sale, lot 20210
Chile SB120-20210r.jpg
The first specimen was lot 984 in Goldberg sale 46 (Beverly Hills, May 2008), where it sold for $62,500. The catalog description[1] noted,
"Chile. 8 Reales, 1758 So-J (Santiago). Ferdinand VI, 1746-1759. Pillar coinage. Crowned Bourbon arms. Reverse: Crowned globes flanked by crowned and bannered pillars, over water. Bold, even strike, with lustrous devices on reflective to proof-like fields. Splendid original surfaces and mint luster under light golden to iridescent toning. Extremely Rare. Considered the finest known specimen. The famous 'Santiago Pillar Dollar.' It remains one of the most sought after and prized of all Latin American coinage. It is also the only Latin American crown to actually spell out the whole name of Ferdinandus, the king. Examples coming to market remain excessively elusive; one being Superior's Auction, December 1-2, 1990 (NY), lot 551, an eye appealing Very Fine, realized $44,000. Minted from 1751-1758, less than 10 examples are known of all dates. NGC graded AU-58. Pillar Dollars were minted at various mints throughout the Americas. For those collectors trying to find a Pillar Dollar from each mint, Santiago is a major stumbling block. The Spanish colony of Chile was somewhat a forgotten stepchild, due to its relative inaccessability. Travelling overland was through harsh deserts, and travelling by sea required the long and dangerous voyage around Cape Horn."
The second specimen was lot 20210 in Stack's Bowers NYINC sale (New York, January 2020), where it sold for $50,400. The catalog description[2] noted, "Iconic Latin American Pillar Dollar. CHILE. 8 Reales, 1758-So J. Santiago Mint. Ferdinand VI. NGC AU-58. EXTREMELY RARE, popular and highly sought after. All Chilean pillar coinage is really difficult to obtain in any grade, let alone one in this state of preservation. The overall combination of eye appeal, originality and quality of this classical Latin crown raises the caliber of coin this piece really is. The surfaces exhibit a lovely amalgamation of smokey grey and russet colors over the lustrous fields that accentuates the bold intricate design features. An excellent representative of the type where the grade doesn't necessarily reflect the quality. The pervasive tone offers great eye appeal certain to be the center piece of the next collection it enters." All Santiago pillar dollars are rare. Gilboy lists examples for 1751, 1753-58, 1760, 1763-65 and 1767-70 with the years 1758 and 1768 being the least rare.

Recorded mintage: estimated 19,979 pieces.

Specification: 27.07 g, .917 fine silver, .798 troy oz ASW; this specimen: 26.97 grams.

Catalog reference: Cayón-10631, Eliz-8; WR-1; Yonaka-S8-58; Gil-SC-8-7, KM 5.

Source:

  • [1]Goldberg, Ira, and Larry Goldberg, Goldberg Sale 46: the Millenia Collection, Beverly Hills, CA: Ira and Larry Goldberg Auctioneers, 2008.
  • [2]Orsini, Matt, Richard Ponterio and Kyle Ponterio, The January 2020 NYINC Sale: Ancient Coins, World Coins & Paper Money, Santa Ana, CA: Stack's Bowers LLC, 2019.
  • Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
  • Elizondo, Carlos A., Eight Reales and Pesos of the New World, San Antonio, TX: 1968.
  • Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, 2 volumes, Madrid: Cayón-Jano S.L., 2005.
  • Calicó, Xavier, Numismática Española: Catálogo General con Precios de Todas las Monedas Españolas Acuñadas desde Los Reyes Católicos Hasta Juan Carlos I, 1474 a 2001, Barcelona: Aureo & Calicó, 2008.
  • Gilboy, Frank F., The Milled Columnarios of Central and South America: Spanish American Pillar Coinage, 1732 to 1772, Regina, Saskatchewan: Prairie Wind Publishing, 1999.
  • Yonaka, Brad, A Variety Guide to the Pillar Coinage of the Guatemala, Bogota, Lima, Potosi, and Santiago Mints, 1752-1771, Long Beach, CA: Agorocu Consulting, 2018.

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