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Mexico coin auction this evening over at Heritage
Early_Milled_Latin_America
Posts: 6,445 ✭✭✭✭✭
Well the one coin I was keeping an eye on was the milled 1732 2 reales sold for 2400$. Would have loved to own it but out of my budget in 2025.
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How did the coins do that you guys were watching?
The one I wanted most if bidding (which I did not) was the 1756 4R. Better examples of this denomination have increased a lot over the last five years or so.
The prices on the two AU 2R I was watching were quite strong too but quite nice coins especially for the grade. This is the 1750 and 1759.
The 1745 AU-58 1R to me is really inflated at $3700+. It has a strong strike except on the globes. The image also shows it as "blast white" which is a color I don't like. The 1739 PCGS MS-64 profiled on the mega thread is much nicer, though I don't keep track of the relative scarcity for Mexico since I don't actively buy it. Haven't bought any Mexico pillars in a long time.
With the prices of nicer Mexico pillars increasing as it has, I won't be starting a set of these at these prices. I still will a nice 5-coin denomination set though. It's my assumption that most buyers of the better-quality coins are doing the same thing, not complete date runs.
@WCC, I too was watching the 1756 4R but was deterred by the big spot by the obverse crown. I was more interested in the 1759 2R. It appeared to be nice enough. I will find out when it arrives.
I agree, the spot was distracting. What do you attribute the higher than expected bidding to?
With the the 4 Reales fetching $4,800.00, the 1 Real bringing $3,720.00 and, though not apples to apples, the 1781 Charles III portrait 2 Reales, which is generally considered a more common date, commanding $2,160.00 - mind you that same coin sold in April 2018 for $576.00.
I thought that the prices realized for the coins mentioned above was surprisingly strong, even with the increases experienced over the last five years or so as previously mentioned. My initial thought is that it has to do with the sheer number of eyeballs that HA attracts, do you guys have other thoughts?
@AngryDragon Congratulations on the 1759 2 Reales! P.S. We hardly see you here, don't be such a stranger, I value your insight and miss the comradery of like minded collectors.
@WCC I value your insight as well, and with respect to the populations listed for the Mexico real's it's as follows:
1739 P=6 total, 2 in 64 & 1 finer in 66+, N=12 total, 0 in 64 & 1 finer in 66 (which in this case we know that population is off, as that N66 is now the P66+) so hence only really 11
(17 in all at both TPG's)
1745 P=17 total, 2/4 with a top pop in MS64, N=14 total, 3/5 with a top pop in MS66
(31 in all at both TPG's)
(* edit to fix linkage)
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
I'm not buying Mexico, but there are proportionately a lot more buyers for it than the Bolivia and Mexico pillars I do buy. Might be an outlier, or maybe just one or a few new collectors competing for it.
I hadn't looked at the TPG data for the 1745 before posting, but this can't be it either. Those numbers aren't particularly low for a colonial minor.
The 1739 you bought is definitely both a better buy and a much nicer coin than this 1745 Heritage coin. It's not even close.