1753-LM Peru 4 Reales Newp - Grade updated at PCGS 5/12

Boosibri

The Lima 4 Reales, and especially the early Lima pieces are quite scare, even rare. The Lima mint opened in 1752 and supposedly produced 4 Reales during this year though no photographic evidence currently exists (per Yonaka) and no pieces are graded by either service. For all intents and purposes the 1753 is the first collectable 4 Reales from Lima and with that there are two graded, a 1753/2 (which is suspect as an overdate) in VF 30, and this wholesome VF35 I just bought from the gun dealer. Gilroy lists this as R4 and Yonaka as R. His price was very fair and in line with auction records for more common dates (and honestly it would take a specialist to pay a premium). Regardless this is a rare coin and one I appreciate.

Namvet69

Guns and money have a definite relationship. Nice pickup. Peace Roy

Seekerofvams

Is it for sale ?

Yorkshireman

Cool!
Nice job, Brian.

Senator32

Very nice! Always great to find pillar 4Rs

OriginalDan

Guess you never know where good coins are going to show up. Nice find.

TwoKopeiki

Very nice addition, congrats!

asheland

Nice find!

Boosibri

Cracked and heading to PCGS. Here are some images of the coin outside of the very difficult to image through NGC holder.

Senator32

@Boosibri said:

Very nice! Love 4Rs. Worried PCGS will call it details with the Chop on the D? Pretty in any event.

Boosibri

@Senator32 said:

@Boosibri said:

Very nice! Love 4Rs. Worried PCGS will call it details with the Chop on the D? Pretty in any event.

I don't think it's a chop but would probably make it more valuable if it was given the number chop mark collectors and rarity of date.

@ChopmarkedTrades , @OriginalDan , @TLeverage - Thoughts on this being a chop?

Senator32

@Boosibri You are probably right. From the picture just looked too structured to be a random mark, so thought it was a chop.

Boosibri

@Senator32 said:
@Boosibri You are probably right. From the picture just looked too structured to be a random mark, so thought it was a chop.

Certainly possible, good question!

realeswatcher

Not that it matters at all to how the coin presents, but it seems like a chop. Common coin sense says it's just a tiny butterfly on the ankle, there from when the coin was pretty young, and it should be overlooked :-> . Solid piece.

First couple of years of early Lima milled 4R ARE scarce (as alluded to, no 1752 4R in online auction records - how many are known?). Relatedly, for giggles, try to find 4R or 8R from the last few years of Lima cob coinage (1750-52)... let alone presentable examples.

ChopmarkedTrades

I would agree that it stands a good chance of being a chop - it does appear to have a design, even if it is not readily distinguishable as a particular character. Would certainly be a rarity beyond the base coin, which is scarce enough as is. Great piece, great color.

MrEureka

Is that graffiti over the crown?

Boosibri

@MrEureka said:
Is that graffiti over the crown?

Possible, nothing organized but scattered marks and a larger hit in between the E and V

Boosibri

Grade posted at PCGS, XF40

Abuelo

What was the grade before @Boosibri ?

Boosibri

@Abuelo said:
What was the grade before @Boosibri ?

XF40

Abuelo

Sorry, missed the holder picture.

coinkat

So for those of us who tuned in late, the coin upgraded from an NGC VF35 to a PCGS EF40... Correct?

Boosibri

@coinkat said:
So for those of us who tuned in late, the coin upgraded from an NGC VF35 to a PCGS EF40... Correct?

You are correct.

WCC

@realeswatcher said:
Not that it matters at all to how the coin presents, but it seems like a chop. Common coin sense says it's just a tiny butterfly on the ankle, there from when the coin was pretty young, and it should be overlooked :-> . Solid piece.

First couple of years of early Lima milled 4R ARE scarce (as alluded to, no 1752 4R in online auction records - how many are known?). Relatedly, for giggles, try to find 4R or 8R from the last few years of Lima cob coinage (1750-52)... let alone presentable examples.

The 1772 is the only Lima date that I would consider relatively common. It represents 26 of the 100 in Yonaka's survey but with the lowest mintage. I haven't seen many 1753 but my observations are consistent with Yonaka's. I have seen it more than most other dates but still only a few times. Best one Cayon sold last year. I'd grade it AU details. The Gilboy plate coin looks (near) UNC and appears "original".

I don't collect cob coinage or follow Lima cobs but agree that it's presumably scarcer than pillars; one of the low percentage as a series.

SimonW

Hate to resurrect an old thread, but I'm salivating over the coin, I've never seen one as nice, certainly not one available for sale. Here's mine:

SimonW

It's actually nicer looking in hand, but obviously a low grade.