Mexico 1866-Do CM 8 reales

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Heritage sale 3037, lot 30328
photo courtesy Heritage Auction Galleries

This specimen was lot 30328 in Heritage sale 3037 (New York, January 2015), where it sold for $5,287.50. The catalog description[1] noted, "Republic Caps and Rays 8 Reales 1866 Do-CM VF Details (Chopmark) PCGS, Durango mint. Clearly choice for the designation, with more detail remaining than expected and quite attractive overall. A probably man-made test mark appears between the 'E' of 'MEXICANA' and the left wing of the eagle and is essentially unobtrusive. Other than the basically uncollectible 1867 Do-CM (2 known), this is the rarest 8 Reales issued at Durango. An eminently collectible example of this great rarity, far more appealing than the few others seen by the cataloguer. We note that a clearly lesser specimen with an unquestionable chopmark realized $3,500 in Stack's Bowers 3/2011 auction (lot 8574), and the F-VF Ex-J. B. Parker specimen fetched $5,500 in Superior's 6/1998 auction (lot 3230)." The year 1866 was the high point of the Maximilian regime and the mints were supposed to be striking his coinage, not republican designs. Despite this, Alamos (assayers DL and PG), Chihuahua (assayers JC, JG and FP), Culiacan (assayer CE), Durango (assayer CM) and Hermosillo (assayers FM and MP) all managed to issue eight reales dated 1866 which, however, remains the most difficult date to obtain of the period 1823-97.

Recorded mintage: unknown.

Specification: 27.07 g, .903 fine silver, .785 troy oz ASW.

Catalog reference: KM 377.4, DP-Do47 ("Extremely Rare").

Source:

  • [1]Bierrenbach, Cristiano, Warren Tucker and Scott Cordry, Heritage Signature Auction 3037, featuring the Empire, the Santa Catarina, the Law and the Santa Maria Collections, Dallas, TX: Heritage Auction Galleries, 2014.
  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
  • Buttrey, T. V., and Clyde Hubbard, A Guide Book of Mexican Coins, 1822 to date, 6th ed., Iola, WI: Krause Publications, 1992.
  • Dunigan, Mike, and J. B. Parker, Resplandores: Cap and Ray 8 Reales of The Republic of Mexico, 1823-1897, Beverly Hills, CA: Superior Stamp & Coin, 1997.

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