Chile 1777-So DA 8 reales

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Heritage sale 3009, lot 21044
photo courtesy Heritage Auction Galleries
Ponterio sale 161, lot 20301
photo courtesy Stack's-Bowers LLC

The first specimen was lot 21044 in Heritage sale 3009 (Chicago, April 2010), where it sold for $10,925. The catalog description[1] noted, "Carlos III 8 Reales 1777-DA, toned VF, minor surface abrasions. Very rare date and the first we have encountered. Possibly the rarest Carlos III bust issue from the Santiago Mint with only three pieces known of this date. Ex: Ray Johnson Collection." The second specimen was lot 20301 in Ponterio sale 161 (Chicago, August 2011), where it sold for $3,392.50. The catalog description[2] noted, "CHILE. 8 Reales, 1777-DA. An EXTREMELY RARE date, with only a small number of examples known. A slightly lesser example in the 'Viceroyal Amat' hammered at $2,100.00 in our March 1991 auction #46. It is interesting to note that for as rare as this coin is, this example is struck from a different reverse die than the Amat coin. A pleasing circulated example that is free of defects. FINE." Despite what seems to be a fairly substantial recorded mintage and nearly continuous production during 1773-89, Santiago portrait eight reales of Charles III are almost as scarce as pillar dollars from that mint. This date is listed as rare even for this scarce type.

Recorded mintage: 26,000.

Specification: 27.07 g, .903 fine silver, .780 troy oz ASW.

Catalog reference: KM-31; FC-16 (R10, the highest rarity given); EL-23.


Source:

  • [1]Tucker, Warren, and Scott Cordry, Heritage Signature Auction 3009: World Coins, Dallas, TX: Heritage Auction Galleries, 2010.
  • [2]Ponterio, Rick, et al., Ponterio sale 161: The Chicago ANA Auction, Irvine, CA: Stack's-Bowers, LLC, 2011.
  • 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.
  • Raymond, Wayte, The Silver Dollars of North and South America, 2nd Ed., Racine, WI: Whitman Publishing, 1964.

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