Spain 1788-M M real

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Aureo sale 243, lot 520
from the Mountain Groan Collection
Spain 1788M real rev DSLR.jpg
The first specimen was lot 520 in Aureo y Calicó sale 243 (Barcelona, Spain, April 2012), where it sold for 40 € (about US$60 including buyer's fees). The catalog[1] noted,
"Carlos III (1759-1788). 1788. Carlos III. Madrid. M. 1 real. MBC/MBC+. (One real of 1788, Madrid mint. Very fine.)"
The type was struck there and at Seville 1772-88. Assayer M is recorded for 1788 only. These coins were lower in fineness than the colonial issues (Mexico, Peru, Bolivia, etc.) and thus were discounted. There is no reason to think that these coins are rare but they are very difficult to find in the American numismatic marketplace and are likely seriously underpriced.

Recorded mintage: unknown.

Specification: 3.38 g, .833 fine silver, .090 troy oz ASW.

Catalog reference: Cayón-11434, KM 411.1, Cal. 1539.


  • 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, 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, Subasta Numismática, Barcelona: Aureo y Calicó Subastas, 2012.

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