Shipwrecked gold coin sells for $312,000

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Shipwrecked gold coin sells for $312,000
Popular opinion is that this style was minted for Spanish dignitaries.

SANTA ANA, CA.- Stack’s Bowers Galleries sold an historic and very rare 1714 Mexican gold coin for $312,000 at auction on August 6th in Las Vegas.

Known as the Presentation 8 Escudos, popular opinion is that this style was minted for Spanish dignitaries, most likely the king, as a symbol of Spain’s success in expanding into the New World. This coin and others like it were recovered from shipwrecks found over the last 50 years. They were once loaded aboard a fleet of galleons headed from the New World to Spain in 1715. When the ships neared what is today known as the Florida Keys, they were all sunk in a hurricane. Today, any items recovered from them are considered “treasure coins” and these “Royal” types are the finds’ most coveted treasure.

Part of the D. Brent Pogue Collection, this specimen is the single finest graded example of the date. Royal 8 Escudos of Mexico are only known for 13 dates: 1695, 1698, 1702, 1711-15, 1717, (1718 - recorded but not seen), 1723, and 1728-29. Less than 75 are known for all dates combined.

“What was once thought lost forever is now literally a piece of treasure for collectors.” said Stack’s Bowers President Brian Kendrella. “This unique piece of Mexican and Spanish history represents a world that doesn’t exist anymore but tells a story of exploration and conquest that will never exist again in our lifetime.”

This impressive and captivating "royal" presentation issue exhibits a perfectly centered, bold strike upon a planchet free from impurities while also offering intense yellow-gold hues and incredible mint luster. It is a distinct departure from the normal "cob" coinage that was standard during the first few centuries of Spanish Colonial rule in the New World.

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