2413

MEXICO: Felipe V, 1700-1746, AR real, 1745-Mo. NGC MS63

Currency:USD Category:Coins & Paper Money / Coins: Ancient Start Price:1,000.00 USD Estimated At:1,000.00 - 1,200.00 USD
MEXICO: Felipe V, 1700-1746, AR real, 1745-Mo. NGC MS63
SOLD
1,100.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2016 May 21 @ 16:28UTC-7 : PDT/MST
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MEXICO: Felipe V, 1700-1746, AR real, 1745-Mo, KM-75.2, Gilboy-M-1-17, assayer M, Pillar type, light blue and gold tone, well struck, tied for finest graded by NGC (April 2016), NGC graded MS63, R. At the beginning of the Pillar coinage, the Spanish colonies didn't require much coinage to transact daily business. Therefore, most of the mintages were reserved for Spain. The treasure fleets delivered these coins, of which some 40% went directly to the Crown, with the remainder used to pay for goods and services. With the huge debts that the Spanish government was incurring, about 2/3 of the crown's share was immediately exported to settle these expenses. Thus, a great deal of the Pillar coinage was distributed worldwide, with much going to the Middle and Far East, where prices for gold and silver were about double that in Europe. In later years, more was reserved for the Americas, as the population and economy greatly expanded (Gilboy).