Heritage Gets Reales
William Wyon-designed proof pattern shines at million-dollar Heritage Auction.
Among the high-earning sales at Heritage’s ANA World & Ancient Coins Auction, which realized over $16 million in bids, were a selection of Mexican 8 reales that made a fashion statement. Adorned with the symbol of the Libertad cap (also known as a Phrygian cap) that is seated in the middle of a wreath of sun rays, these “Silver Cap and Ray” coins were made at various mints across Mexico. At auction, these pieces all garnered tens and hundreds of thousands of dollars in bids.
Within this selection is a coin from the Guanajuato Mint that looks quite different than the rest despite having the same motifs as its peer issues. This Republic-era 1827 8 reales (Go-WW PR64 Cameo NGC) silver pattern coin features a Libertad cap that is encircled by the rays, appearing like a starburst emerging from its proof cameo planchet. This is a scarce issue, with Heritage calling the design a “masterpiece,” and it is so outstanding that it earned $180,000 in the sale. According to Heritage, this is the only example to be sold at a major auction house within recent memory.
Although this coin was issued as Mexican currency, its design derives from when the Guanajuato Mint was leased by the Anglo-Mexican Mint Association in 1823. The lack of modern facilities at the Mexican mint necessitated the Association’s export of its production of dies and hubs across the Atlantic to the Royal Mint in London, which had steam-powered presses.
The engraving then became the responsibility of noted British engraver William Wyon, known for his signature neoclassical style. It was he who took the motifs of the Libertad cap and sun rays and created the iconic encircled design.
Kent Ponterio of MexicanNumismatics.com says on the design, “Struck with a medallic die axis; the piece bears a plain edge and has a very sharp upset rim with ornate denticles struck with the care and precision that is more reminiscent of contemporary English medals.”
Courtesy of Heritage Auctions.
After these coins were struck, they were then delivered to Mexico in 1827. According to Ponterio, this was an illegal act, as Mexican law stipulated that the dies and hubs used to produce its currency were to be made in Mexico. However, this design had staying power, as evidenced by an 1882 silver proof pattern 8 reales (Ho-JA MS64 NGC), purchased for $84,000 during the Heritage sale, which mirrors the 1827 issue.
For more information about the 1827 8 reales and the ANA World & Ancient Coins Auction sale, visit the website.
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