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1884 As ML 8 Reales
dwj6211
Posts: 34 ✭✭
Hello!
I just recently got my “grades are ready” alert for a 1884 Alamos 8 Reale that I purchased raw while on a trip to Italy. It for sure was one of the finest examples I’ve seen, and had to see what PCGS thought about it. Came back MS64, which makes it pop 1, finest known.
Here’s my question— with so few auction comps, and it now being a top pop, how do I determine a realistic value?
Here’s the cert below… the trueview is still processing, can’t wait to see it because the coin has the most incredible mirror like fields and beautiful toning.
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Great question. As you likely know, the Cap & Rays series has done well in recent years. Even if one looks to auction comps, the dates of the auctions are significant. You might check the NGC pop report to see how many...or few... they have graded.
Congrats in finding such a nice example... I am curious if a PL designation would be in the cards. I am not 100% certain even if a PL designation is available for this series at either service. Years ago, I submitted an 1891Zs 8R to NGC that I thought could PL- no cigar as it came back 67 which is the highest grade for a Cap & Rays I have obtained.
There is significant demand for high grade MS examples. Handicapping the value is challenging.
Experience the World through Numismatics...it's more than you can imagine.
Well, there are 40 graded at NGC and two 65’s, I would say that it is especially rare or Top Pop against all graded. Its value will be heavily dependent on its appearance. No picture shows yet so will wait to offer any other thoughts until seeing the coin.
Latin American Collection
Here is the true view.
Does the image capture the look of the coin? There looks to be vibrant color which I see as a plus. I like the look and I suspect it would do very well at auction. Trying to estimate the value will likely have a significant range. Offhand I am reluctant to suggest a range. And my issue is I really don’t have an insight to the quality of the high end surviving population. Not all coins at the same grade level are equal. And a top pop often overshadows a more pleasing example at a lower grade. My point in mentioning that is that your 64 could easily be the more attractive example than the 2 that graded 65.
Experience the World through Numismatics...it's more than you can imagine.
Fully agree with all your points! The examples I’ve seen in 61 and 63 have been pretty flat looking, with minimal toning all NGC…. I have not seen any 65 (only pop of 65 is at NGC) come to auction. I don’t believe any MS in PCGS have sold at auction honestly, and the CoinFacts images are all AU…. This is what is making it so hard too!
In hand the coin is even more attractive in my honest opinion. Here is a video of it when it was raw.
https://youtube.com/shorts/fVUepkMJMTs?is=umVZUWjlS466YfUA
The best way to gauge its value is to compare to other 64’s of similar dates. The coin isnt particularly rare, but certainly more than a common date Mo mint. Probably $750-1000 depending on how much someone values the eye appeal.
Latin American Collection