Peru (1568-71)-P R 4 reales

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Goldberg sale 87, lot 3408
Peru G87-3408r.jpg
Stacks Bowers sale, lot 39525
Peru SB1115-39525r.jpg
The first specimen was lot 3408 in Goldberg sale 87 (Los Angeles, September 2015), where it did not sell. The catalog description[1] noted,
"Peru. 4 Reales, ND (c.1568-71)P R. Assayer, Ricon. Philip II, of Spain, 1554-1598. Crowned arms of Castile and Leon; assayer's initial at left. Reverse; Crowned pillars over waves, motto between; value below. Sharp strike. NGC graded Extremely Fine, Details (Excavation Recovery, not in holder with tag)."
The second specimen was lot 39525 in Stack's Bowers Winter sale (Baltimore, November 2015), where it sold for $4,700. The catalog description[2] noted,
PERU. 4 Reales, ND (1558-98) Assayer R (Rincon). Philip II (1556-98). NGC AU-53. VERY RARE. First coinage of Peru, and always in high demand as such. Slight strike doubling evident, but which does not detract from the overall appearance of the coin. Clear devices and legends, easily identifiable for type. The protected areas of the fields above the waves exhibit the full texture of the dies when struck. Well centered on a nearly round flan, with moderate toning and good overall color. Struck shortly before the closure of the Lima mint, and vastly more RARE than Mexico City coinage from the same era."
This is the first four reales catalogued for Lima and is very rare. The Lima mint competed for silver with the Potosi mint (which was closer to the major mines) and colonial authorities closed it several times in the sixteenth century.

Recorded mintage: unknown.

Specification: 13.53 g, .931 fine silver, .405 troy oz ASW, the first specimen 12.8 grams, the second specimen 13.4 gms.

Catalog reference: Cal-type-201#309a; KM-10.1; Cayón no. 3739.


  • Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, vol. 1, Madrid: Cayón9-Jano S.L., 2005.
  • Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.
  • [1]Goldberg, Ira, Larry Goldberg, John Lavender, Yifu Che, Jason Villareal and Stephen Harvey, Goldberg Sale 87: the Pre-Long Beach Auction, Los Angeles: Goldberg Coins and Collectibles, 2015.
  • [2]Ponterio, Richard, and Todd McKenna, The November 2015 Baltimore Auction, World Coins and Paper Money, featuring the Ray Czabor Collection and selections from the Strong Museum, Santa Ana, CA: Stack's Bowers LLC, 2015.

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