Peru 1808-L JP 8 reales

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Goldberg sale 46, lot 1169
photo courtesy Ira & Larry Goldberg
This specimen was lot 1169 in Goldberg sale 46 (Beverly Hills, May 2008), where it sold for $16,500. The catalog description[1] noted,

"Peru. 8 Reales, 1808 JP (Lima). Ferdinand VII, 1808-1833. Large laureate, draped, and cuirassed imaginary bust of Ferdinand right. Reverse: Crowned Bourbon arms, flanked by bannered pillars. Splendid boldly struck portrait, with nearly complete details on reverse. Lustrous to velvety devices on lustrous to partly reflective fields. With bright, shimmering cartwheel luster. This is the finest known example. First year of an 1808-1809 type, which was changed later in 1809. NGC graded MS-64.

"What is somewhat ironic is that the name Peru derives from the word Biru, which was the name of a local Indian ruler who lived in Panama. Pizarro mistakenly thought Biru was further south and called the area Peru after the Incan ruler. Spain recognized the name Peru in 1529. So not only did Pizarro get it wrong, but the area was named after a native. Such a native would be captured, enslaved, and exterminated by the conquerors."

This type is rare compared to the prior type of Charles IV, struck 1791-1808. It was replaced 1809-11 by KM 106.2, with a smaller imaginary bust of Ferdinand.

Recorded mintage: 4,017,000 (mostly KM 97).

Specification: 27.07 g, .896 fine silver, .780 troy oz ASW, this specimen: 26.51 grams.

Catalog reference: Eliz-73; WR-11; KM-106.1.

Source:

  • [1]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.
  • Raymond, Wayte, The Silver Dollars of North and South America, 2nd Ed., Racine, WI: Whitman Publishing, 1964.

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