Spain 1865 2 escudos

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Aureo sale 233, lot 511
This specimen was lot 511 in Aureo y Calico sale 233 (Barcelona, April 2011), where it sold for 10,000 euros (about US$16,650 including buyer's fee). The catalog description[1] noted,
"1865. Madrid. 2 escudos. Insignificantes marquitas. Muy bella. Brillo original. Rarísima. EBC/EBC+. (Two escudos of 1865, Madrid mint, insignificant marks, very beautiful, original luster, extremely rare, extremely fine/choice extremely fine.)"
This Spanish two escudos was part of the second decimal reform of 1864. In 1850, the twenty reales was reduced to 26.91 grams. This having proven unsatisfactory, the coinage was reformed again in 1864. The twenty reales was dropped in favor of a two escudos silver coin, reduced to 25.96 grams. One hundred centimos = one escudo. By the reform of 1870, the revolutionary government adopted the standard of the Latin Monetary Union, where one peseta = one French franc and five pesetas = 25 g of silver, .900 fine. The peseta remained in use (tho it ceased to be silver in the 1930's) until the adoption of the euro in 2001. This type was struck 1865-68 and the 1865 is a rare date. No branch mint issues are recorded.

Recorded mintage: unknown but rare.

Specification: 25.96 g, .900 fine silver, .751 troy oz ASW.

Catalog reference: Cal. 202, KM 629, Dav-335.


  • Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, 2 volumes, Madrid: Cayón-Jano S.L., 2005.
  • Calicó, Xavier, Numismática Española: Catálogo General con Precios de Todas las Monedas Españolas Acuñadas desde Los Reyes Católicos Hasta Juan Carlos I, 1474 a 2001, Barcelona: Aureo & Calicó, 2008.
  • [1]Sisó, Teresa, Eduardo Domingo and Lluís Lalana, Selección de 500 Monedas, Medallas y Billetes, Barcelona: Aureo y Calicó Subastas, 2011.
  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.

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