2016-07-14 Thu

A rare 1747 Mexican 8 Escudos is being offered at the ANA World’s Fair of Money Showcase Auction organised by Stack’s Bowers Galleries in August. Mexico had a Spanish colony known as the “Viceroyalty of New Spain”. After Philip V died in July 1746, Ferdinand VI succeeded him. The news about this change of throne had to be communicated across the kingdom by travelling extensively.

This time though, there was a slight delay in delivering this news to Mexico. A ship sailed from Spain to Mexico for several weeks and by that time, the Mexico City Mint had already started minting Philip V coins. Mint of Spain took time to create the updated designs with portraits, legends and icons. The Mexico City mint improvised the designs and created an imaginary portrait for the obverse.

Inscriptions on the coin include Ferdinand VI’s royal titles “FERDND. VI. D. G. HISPAN. ET IND. REX.” the date and two rosettes. The armor is similar to that of Philip V, probably to fasten the process of minting. The “imaginary portraiture” differed from the later coins that were issued for Ferdinand VI by the Madrid mint.

The reverse features a shield depicting with the coat of arms of the King of Spain with the Crown and the Order of the Golden Fleece which existed for almost 600 years. The assayer’s initials and “8” for 8 Escudos is also depicted on the reverse. The inscription was the official motto of Philip V: “INITIUM SAPIENTIAE TIMOR DOMINI,” which translates to “Beginning of Wisdom is Fear of the Lord”. Two “MO” monograms indicates that the coins were struck at Mexico City mint.

These coins are extremely rare as they were minted only for a few months. The coin that is being auctioned at the event is not just rare but is also highly graded for its fineness.