Mexico 1822-Mo JM 8 reales KM 308
This specimen was lot 1115 in Goldberg sale 46 (Beverly Hills, May 2008), where it sold for $6,000. The catalog description noted, "Mexico - 8 Reales, 1822-Mo-JM (Mexico City). Empire of Iturbide. Large head, long truncation; "AUGUSTINUS" type; value at upper edge. Bare head of General Augustine Iturbide right. Reverse: Crowned eagle atop cactus, value at 10 o'clock. Eyes of portrait and body of eagle showing some flatness. Obverse field very reflective, the reverse mostly so at the peripheries. Medium deep toning, emphasizing blues, violets, and coppers on the obverse, with pinkish grays on the reverse. This is one of the finest known examples of this one-year type. NGC graded AU-58.
"Iturbide was a military man. The conservatives in the new, independent Mexico wanted a royal from Europe to head the country. When no royal would accept the position, these same conservatives persuaded Iturbide to become Emperor. He ruled the nation as if his citizens were soldiers. He imprisoned those who disagreed with him. Democratic principles were alien to him. The people wouldn't accept his autocratic methods and he was forced to abdicate and leave Mexico."
This type is the highest priced in the SCWC of the various Iturbide 8 reales dated 1822. Like all Iturbide coinage, it is rare fully struck and in nice condition. It was superseded in 1823 by the republican hook-neck 8 reales.
Recorded mintage: unknown.
Specification: 27.07 g, .903 fine silver, .786 troy oz ASW, this specimen: 27.09 grams.
Catalog reference: Buttrey-3B; Eliz-165; KM 308 (type III).
- Goldberg, Ira, and Larry Goldberg, Goldberg Sale 46: the Millenia Collection, Beverly Hills, CA: Ira and Larry Goldberg Auctioneers, 2008.
- Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1801-1900, 7th ed., Iola, WI: Krause Publications, 2012.
- Elizondo, Carlos A., Eight Reales and Pesos of the New World, San Antonio, TX: 1968.