Would you Include this Specimen in Your Certified Spanish Colonial Type Set?
AngryDragon
Posts: 85 ✭✭✭
This Mexican 1782Mo-FF 1R Charles III Portrait KM78.2 is quite attractive to the naked eye. Unfortunately it has mechanical damage (scratches) between some devices, the crown in particular, which are undetectable even at 5X magnification.
Do you pass and wait for a straight graded coin to surface or grab it despite the impairment?
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I would get a straight graded example. They are not too difficult to find, especially if you're looking for a type and don't care about the date.
8 Reales Madness Collection
Instagram: 8 Reales Numis
Wait for a problem free coin. Don't make someone else's problem your problem.
Depends on the price and the rest of the collection.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Did you mean to say "they are not too difficult to find"?
As far as finding straight examples, it's not extremely difficult but I wouldn't call it easy either.
PCGS has a total of 44 Charles III - 1 Real's straight graded across all 6 colonies.
Of the 44 only 6 are in mint state.
PCGS Census info shows 25 from Mexico (5 in MS), 9 from Peru (1 in MS), 3 from Colombia, zero from Chile & Guatemala
NGC has a total of 130 Charles III - 1 Real's straight graded across all 6 colonies.
Of the 130 only 8 are in mint state.
NGC Census info shows 74 from Mexico (7 in MS), 26 from Bolivia, 16 from Peru, 9 from Colombia, 5 from Guatemala (1 in MS), zero from Chile
Total for both TPG census counts is 174 with 14 in mint state condition.
Of the 174 straight graded coins combined across both TPG's the vast majority fall within the VF range.
census counts are known to not be 100% accurate and of course there exists an unknown number of uncertified examples in various degrees of preservation.
I think the numbers reflected above easily allow a collector to estimate the ease or difficulty of acquiring a straight graded example depending upon the grade level desired.
@AngryDragon My feeling is, it depends.
If the example you seek is to be part of an ungraded type set, and the piece is reasonably priced, then I don't think there is really any issue buying it, as the coin you've shown could be considered attractive as is.
I think its fairly safe to say that, over time, the straight graded coin will appreciate greater in value over an example such as this. Another advantage of a straight graded example is you could add it to a registry set if you so desired, which I know you currently have a Pillar coin denomination set, so perhaps, at some point, a Charles the III denomination set might be in your future.
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
And because every post should have pictures....
MS62
MS63
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
point taken. thanks
I would love to see Santiago Mint 1 and 1/2 real coins minted under Carlos III in anything approaching EF grades (or better). Extremely difficult to find.....
I recommend very strongly that you have patience and wait for a better opportunity. If you have to ask the question then you have your doubts. Over time the doubts will only grow stronger.
RSP
MS62
The wait is finally over.
You did well beautiful coin!!!
Congratulations!
I almost bid on that one myself, I tracked it and watched it as it hit the block.
I'd love to see the coins you have in the type set
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
I picked up two others since the original post date.
XF45 (Top for this date)
AU58
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set