1734

MEXICO: ZACATECAS: Fernando VII, 1808-1821, AR 8 reales, Zacatecas, 1810, NGC EF40

Currency:USD Category:Coins & Paper Money / Coins: Ancient Start Price:2,500.00 USD Estimated At:2,500.00 - 2,800.00 USD
MEXICO: ZACATECAS: Fernando VII, 1808-1821, AR 8 reales, Zacatecas, 1810, NGC EF40
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MEXICO: ZACATECAS: Fernando VII, 1808-1821, AR 8 reales, Zacatecas, 1810, KM-189, EI-MX78, Local arms issue with L.V.O. reverse, rare date, usual flatness in the strike, otherwise very attractive, with no damage and virtually no wear, NGC graded EF40

Following a recent article by Carlos Jara, the LVO "local arms" type issued in 1810 can now safely be considered the first Independent coinage of Mexico while the LVO "royal arms" type of 1810-1811 was a royalist issue and accepted as such by the royalist authorities of the time. Among other unearthed contemporary sources by Jara, an edict issued by Viceroy Calleja published in the Gaceta del Gobierno de Mexico dated May 14, 1811 reads: "In order not to hinder the payments and trades in the commerce, I hereby declare as current and legal tender the provisional coinage minted in that city [of Zacatecas] … by disposition of the legitimate authorities … due to the lack of circulating media and the fact that said coinage has a greater intrinsic value than the one with the bust of the King… However, this authorization must be understood as concerning only the mentioned provisional coinage [LVO "royal arms" type], and not the one issued by the insurgents since all of that coinage [of the insurgents] - which is well known - will have to be recalled in accordance with Article 13 of the Proclamation dated March 20. …it is warned to everyone that the circulation of the coinage minted in that same locale [of Zacatecas] by the insurgents - which is well known and can be distinguished by the fact that it bears a kind of nopal or branch instead of lions in the Royal Coat of Arms - is hereby prohibited."