Chile 1787-So DA 8 reales

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Goldberg sale 46, lot 990
photo courtesy Ira & Larry Goldberg

This specimen was lot 990 in Goldberg sale 46 (Beverly Hills, May 2008), where it sold for $22,000.

The catalog description[1] noted,
"Chile. 8 Reales, 1787 So-D.A (Santiago). Charles III, 1759-1788. Laureate, draped, and cuirassed bust of Charles III right. Reverse: Reverse: Crowned Bourbon arms, flanked by bannered pillars. The strike choice, with virtually complete centers. Devices lustrous and glossy, on reflective fields. Very Rare, even more so in this state of preservation. The finest known specimen. NGC graded AU-58. The mintage figures for colonial 8 Reales in Chile were far lower than most of the other Spanish colonies. Far less trade was being conducted by the Spanish. This makes this type very scarce. Provenance: A nearly comparable example, in AU, realized $12,000 in a Ponterio sale in January of 1991."
This specimen later reappeared in Goldberg sale 53 as lot 3044.

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.

Recorded mintage: 183,000.

Specification: 27.07 g, .896 fine silver, .780 troy oz ASW; this specimen: 26.90 grams.

Catalog reference: Eliz-36; WR-3; KM 31.


Source:

  • [1]Goldberg, Ira, and Larry Goldberg, Goldberg Sale 46: the Millenia Collection, Beverly Hills, CA: Ira and Larry Goldberg Auctioneers, 2008.
  • 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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