Peru 1766-L JM 4 reales
This specimen is one of a series struck 1760-72 during the reign of Charles III (1759-88). No varieties are noted for the date. As a class, pillar coinage of Peru is much less plentiful than that of Mexico, tho it is more available than the remaining mints. Harris encountered about one-third as many Peru pillar four reales of Charles III as that of Mexico; Gilboy assigns the date an R3 rating (two dozen or less known to exist) and even the commonest date (1772) is called "scarce." Despite this, the SCWC prices this type lower than four reales of Mexico or Bolivia. This specimen was lot 22828 in Stack's Bowers ANA sale (Anaheim, CA, August 2016), where it sold for $235. The catalog description noted, "PERU. 4 Reales, 1766-JM. Charles III (1759-88). NGC VF Details--Surface Hairlines. A more elusive denomination than the larger 8 Reales of the same type. Lightly cleaned, but retaining an appealing overall look."
Mexican numismatists hotly debate which side of the coin constitutes the obverse. Gilboy depicts the shield side as the obverse as that side bears the king's name. However, auction catalogs and dealer listings more frequently use the pillars and globes side as the obverse, as that side bears the date.
Recorded mintage: unknown.
Specification: 13.54 grams, .917 fine silver, .399 troy oz ASW.
Catalog reference: Cayón-11714, Gilboy L-4-17, KM 66.
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- Harris, Robert P., Pillars & Portraits, San José, CA: Bonanza Press, 1968.
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