Peru 1709-L M 8 reales
This specimen was lot 440 in Sedwick Treasure Auction 26 (Winter Park, FL, November 2019), where it sold for $565.25. The catalog description noted, "Lima, Peru, cob 8 reales, 1709M, with Guatemala sun-over-mountains countermark (Type II, 1839) on cross. Good full pillars (well-centered) with crude old hole at top, nearly full cross with deep and choice countermark (AU+) to left, overall toned Fine with edge-crack, two clear assayers and mintmarks." Despite pleas from locals in Lima for a mint, Spanish authorities preferred to concentrate coinage production at Potosi in Upper Peru. The mint was shuttered multiple times by orders from Spain, not to reopen permanently until 1684. Cob eight reales were struck at the Lima mint 1701-46 for Philip V of Spain and became the "pieces of eight" of pirate lore. The Mexico City mint was converted to milled coinage in 1732-34 but Lima would not follow suit until 1751. The Guatemala counterstamp was not applied until 1839, by which time this coin was 130 years old.
Recorded mintage: unknown.
Specification: 27.07 g, .931 fine silver, this specimen 26.84 g.
Catalog reference: S-L18; KM-34; CT-632, Cayón-9215.
- Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, vol. 1, 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.
- Sedwick, Daniel Frank, Augi Garcia and Cori Sedwick Downing, Treasure Auction 26, Winter Park, FL: Daniel Frank Sedwick LLC, 2019.