Spain 1869-SN M 5 pesetas (69)

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Aureo sale 242, lot 429
The specimen shown was lot 429 in Aureo y Calico sale 242 (Barcelona, March 2012), where it sold for 28,000 € (about $43,472 including buyer's fee). The catalog description[1] noted,
"Gobierno Provisional (1868-1871). 1869*1869. SNM. 5 pesetas. Insignificantes marquitas. Muy bella. Gran parte de brillo original. Rarísima. EBC+. (Provisional government of 1868-71, five pesetas of 1869. Insignificant marks, very beautiful, most of the original luster remaining, extremely rare, choice extremely fine.)"
In 1868, the monarchy was overthrown. The old regime, marred by corruption and scandal and unable to quell rebellions in Catalonia and Cuba, was little mourned. The new government, unable to find a prince willing to accept the throne, established a republic and designed new coins. The system, reformed in 1850 and 1866, was reformed again to conform to the French model. The peso was reduced to 25 grams and set equal to five pesetas with each peseta divisible into 100 centimos. This system would prevail until the coming of the euro. Altho the 1870 is common, the 1869 is so rare as to be virtually a pattern and may be the most expensive silver coin of the peseta system.

Recorded mintage: 100.

Specification: 25 g, .900 fine silver, .723 troy oz ASW.

Catalog reference: KM 655, Cal. 2, Dav-336.


  • 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.
  • Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1801-1900, 7th ed., Iola, WI: Krause Publications, 2012.
  • [1]Sisó, Teresa, Eduardo Domingo and Lluís Lalana, Selección de 500 Monedas, Medallas y Billetes, Barcelona: Aureo y Calicó Subastas, 2012.

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