Lot description:
PHILIPPINES. Philippines - Mexico. 8 Reales, ND (1834-37). Manila Mint. Isabel II. PCGS Genuine--Graffiti, VF Details; Countermark: EF Details.
KM-Not listed; Basso-56; PNM#6-Not listed; PNM#16; PNM#21-Not listed; Cacho-Not listed; Gil-5-4-3-III. Issued by decree of 20 December 1834, suppressed 31 March 1837 (By Decree of 1 February 1836). Countermark: Type VI, crowned Y.II. within circle. Applied to the obverse and reverse of a 1829-Zs AO Mexico Republic 8 Reales (KM-377.13). This EXTREMELY RARE issue seldom appears on the market with few known examples, we have only about 15 instances of this occurring during the countermarking action for all countermarks and host types. The countermark on the obverse is deeply applied and bold while the countermark on the reverse has been nearly obliterated. Only a thin crescent of the initial countermark remains with the left foot of the "Y" poking out on right near eagles tail. The surfaces exhibit signs of handling consisting for the grade with even wear displaying an attractive rich gray patina. Close inspection of the reverse reveals a small "x" accounting for the details designation, long since toned over matching the rest of the coin. Despite its shortcoming a highly interesting example from this complex series that is sure to excite many advanced collectors.
Commonly referred to as a "double countermark", this categorization is overly simplified and fails to explain the reason how this could have occurred. Per the original decree of 2 October 1832, the stamps were to be applied to the obverse of all coins submitted to the countermarking office. Occasionally, examples can be found with a single countermark on the wrong side of the host and for all intents and purposes is an error in the countermarking process. Exceptions to this are the Chile "Volcano" Pesos and Guatemala (Central American Republic) 8 Reales where distinguishing the obverse from the reverse was not straight forward and appear bearing a single countermark on either side. The survivors that were first countermarked on the reverse and subsequently flipped over and struck again on the obverse are examples of correcting said error. This is particularly important indicating that the error was caught immediately and corrected with the same countermark. The stamps used on corrected examples can be linked to single countermarked and perforated pieces and are significant to the series.
Estimate: $10000 - $20000 | |