Chile 1824-So I escudo

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Eliasberg lot 1373
Eliasberg lot 1373
Heritage sale 3029, lot 30034
Heritage sale 3029, lot 30034
The first specimen was lot 1373 in the Eliasberg sale, where it sold for $3,910. The catalog description[1] noted, "1824 I 1 escudo. Santiago mint. MS-64 (NGC). Types as above. Bright yellow gold with significant reflectivity in the fields. Small planchet flakes are noted from the reverse, as made, and typical for the issue. Sharply struck and very attractive. From the John H. Clapp Collection; Clapp estate to Louis E. Eliasberg, Sr., 1942." The second specimen was lot 30034 in Heritage sale 3029 (New York, January 2014), where it sold for $22,325. The catalog description[2] noted,
"A Superb Gold Escudo from Chile-Republic gold Escudo 1824 So-I, MS66 NGC. A rare early Republic issue with a reported mintage of 3,400 coins. While this factor alone is enough to make it appealing, its condition unquestionably elevates it to stratospheric levels. Our research located a lone record of this date selling: the Eliasberg coin that was sold in 2005 and later re-sold by us in January of 2009. That coin, impressive in its own right, was graded MS64 by NGC. Every technical specification of the Newman coin trumps that piece. The present coin shows razor-sharp detail throughout, with glowing luster in the fields that gives off a just-minted appearance. Without the aid of a loupe (and even with one), the surfaces appear on the cusp of being flawless. In fact, the present specimen was so superb, it prompted Burdette G. Johnson to type on the coin's envelope, 'a brilliant proof and undoubtedly unique in this condition.' While we question the Santiago Mint's ability and desire to actually strike proofs during this transitional period, we certainly echo the sentiment: 'This coin is special.' Ex: "Colonel" E.H.R. Green; Green Estate' Partnership of Eric P Newman / B.G. Johnson."

This "crossed flags" type was struck in Santiago, Chile, 1824-34. It was succeeded by the "hand on book" type (KM 99, struck 1838 only) and a "standing liberty" design (KM 101, struck 1839-51). The SCWC records the weight of this coin as 3.3 g; earlier colonial one escudos were nominally 3.38 g.

Recorded mintage: 3,400.

Specification: 3.3 g, .875 fine gold, .093 troy oz AGW, 19 mm diameter; this specimen: 3.33 grams, 19.10 mm diameter.

Catalog reference: KM 85, Fr-36.

Source:

  • [1]Kraljevich, John, John Pack, Elizabeth O. Piper and Frank Van Valen, The Louis E. Eliasberg, Sr. Collection of World Gold Coins and Medals, Wolfboro, NH: American Numismatic Rarities, 2005.
  • Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 7th ed., Clifton, NJ: Coin and Currency Institute, 2003.
  • Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.
  • [2]Bierrenbach, Cristiano, Stuart Levine and Bruce Lorich, Heritage World and Ancient Coins Auction 3029, featuring Selections from the Eric P. Newman Collection, Part III, Dallas, TX: Heritage Auction Galleries, 2013.

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