Countermarked Silver Cobb 8 Reales

We are absolutely thrilled to share a very rare Countermarked Silver Cobb 8 Reales coin with you today. In fact, up to this point in time very few people knew coins like this even existed. This coin isn’t even known to many historians or the rare coin industry alike. It is quite literally the oldest known official United States Silver Dollar. In particular, it is the only one in private hands with the countermark of PS. 

It’s an absolute wonderful find and a priceless piece of American History. Surprisingly, not many people knew how business was done before the US Mint opened. From the 1600’s up to 1792 Spanish colonial silver Reales and gold Escudos were the primary currency used in the colonies. Of course, this changed once the US started minting their own coins.

US regulators confiscate countermark Spanish coins

Once the US mint started minting their own coins in 1792, all stamped coins were rounded up and melted down. Only a handful of stamped regulated coins exist today. Above all, we have in our possession the only known silver Cobb 8 Reales with the prominent PS regulators initials. However, there is a Countermarked Silver Cobb 8 Reales with a PS in the Williamsburg Museum.

By comparison, there are hundreds of other types of regulated gold coins known to exist. Many of these coins can easily eclipse six figures. But, we possess the only known example with the PS stamp that doesn’t reside in a museum.

This is such a massive hidden gem… important and historically relevant. Prominent regulators like Philip Syng were responsible in regulating the first foreign currency. In other words, making sure all coins circulating in the US had to measure up to real and verified standards of weight and purity.  

A couple of the most well-known US silversmiths and regulators in the early days were Paul Revere (PR punch) from Boston, Ephraim Brasher (EB punch), from New York. Equally important and harder to find today, was Philip Syng, Jr. (PS Punch), of Philadelphia. In addition, Mr. Syng, was very close personal friends with Benjamin Franklin.  

Austin Rare Coins sold the Countermarked Silver Cobb 8 Reales in the video below to a private collector. However, this Summer it will be going to public auction at Stacks Bowers—a prominent auction house. As a matter of fact, we believe bidding is sure to be fierce for this absolutely incredible, unique, piece of early American history.

Biblical-Era Judean Bronze Prutahs

Mark 12:42, 44

New Testament has reference to Biblical-Era Judean Bronze Prutahs coins. These coins had a more common name due to a very well known biblical story.

42 And there came a certain poor widow, and she threw in two mites, which make a farthing.

44 For all they did cast in of their abundance; but she of her want did cast in all that she had, even all her living.

In the Bible, Marks 12:42, 44, there is a reference to Biblical-Era Judean Bronze Prutahs commonly called “Widow’s Mites.” In fact, the Bible refers to a poor woman donating all the money she had, which was two Mites. In other words, she was a widow that gave all the money she had to Jesus.

These Biblical-Era Judean Bronze Prutahs still had yet another name. In addition, Widows Mite’s were also known as a “Lepton.” These bronze coins were the smallest denomination of currency used.

At the time of Mark’s writing, one mite was worth 1/64th of a silver denarius. A denarius was a day’s wage for a common worker. In today’s terms, it would be worth about 1/8th of a cent.

Bronze Prutahs commonly called Widow’s Mites

Most Bronze Prutahs or Widow’s Mites that you encounter today are very worn with most of the fine detail gone. On the other hand, at Austin Rare Coins you can find some that are far nicer than most encountered. Above all, each coin offered by Austin Rare Coins is graded by NGC Ancients in Choice Very Fine condition. Therefore, each coin being offered is certified authentic and over 1,900 years old.

You will find Bronze Prutahs or Widow’s Mites vary in their look and design. In fact, several different styles are being offered from this collection. However, not to worry, all mites being offered are indicative of the quality you can expect.

Be sure to check out the video below… Afterwards, if you have any question just contact an Ancient Coins Advisor at Austin Rare Coins at 1-800-928-6468.

Mexico declared Independence from Spain

Mexico first declared Independence from Spain in 1810. To clarify, this happened on September 16th, 1810. Before then this area was more commonly referred to as New Spain. The declaration of Independence led to a 11 year war against Spain. Unfortunately, it wasn’t until August 24, 1821 that Spain finally recognized Mexico’s Independence.

This was the dawn of the once New Spain turning into the new Mexican Empire. Gone were the days of the Spanish Catholic monarchy. A new federal republic was finally declare and by 1924 they codified Mexico’s new Constitution. It is important to note, there were some reattempts by Spain to re-concur New Spain. However, by 1836 Isabella II and Spain finally fully recognized Mexico’s independence.

Mexico’s First Republic 8 Escudo

The Hand on Book gold 8 Escudo from Mexico became Mexico’s First Republic 8 Escudo. Many of these issues come softly struck and hundreds of years later aren’t in very good condition. However, below is an example of a stunning Mint State 63 Hand on Book gold 8 Escudo from Mexico. It is fully detailed and centered dripping with original mint luster.

The design is one of our favorites when it comes to world coins. Once Mexico declared Independence from Spain they decided to create a new look. The reverse of this coins depicts the seal of Mexico. This same seal adorns the Mexican flag. It shows an eagle on a cactus holding a snake in its talons. The obverse of the coin shows a hand holding a pole with a cap on the top. The hand is about to write into the book of law.

This beautiful coin was graded Mint State 63 by NGC. What is most important, is that it was struck in Mexico City. It is difficult to find coins with such attractive eye appeal and truly proof like surfaces. Only 22 of these coins have been certified in all grades combined and this is one of only three in Mint State 63 with none known finer.

Containing over $1400 worth of gold alone, we feel high end examples of this series are overlooked and undervalued. This is why Mexico’s First Republic 8 Escudo like this is so highly recommended. Above all, this is the finest coin we have seen from this series from 1823-1873.

What an Austrian Ducat is worth

Many collectors wonder what an Austrian Ducat is worth. It is important to first understand what an Austrian Ducat coin actually is. The Ducat became a popular world traded coin. It was first introduced in the late 13th Century. However, it was the Venetians who introduced the coin.

Austrian Gold Ducats are large gold coins valued by investors for several reasons. First of all for their 98.60% fineness weighing 3.44 grams. Secondly, these circulated coins were the highest purity gold coins to be issued prior to the late 20th Century. Therefore, during the 1400s international traders in Western Europe changed from using florins to ducats as the preferred currency.

It is important to note, Ducats come it different sizes in different countries in Western Europe. Today one gold ducat would be worth around 150 dollars. Although, it depends on the current price of gold per ounce. Plus, larger sized Ducats are worth more. For instance, the 4 ducate weight is 13.9636 grams. That is slightly 4 times more than a single Ducat.

It is important to note, The Austrian Mint has been producing innovative coinage and currency for over 800 years. This make it one of the oldest continuously-producing minting institutions in the world. Due to their high purity and exceptional design these coins obtain a high price. Of course, this depends on the condition. Nevertheless, holding a piece of history from the Austria-Hungary Empire in any condition is a great addition to one’s collection. It is no wonder why these impressive coins are so sought after.

Rare Austrian Double Ducat

This rare Austrian Double Ducat weighs almost twice as much as a single Ducat at 7.02 grams. Featured on the obverse is Saint Rupert of Salzburg. As a matter of fact, Rupert is the patron saint of the state of Salzburg, the Roman Catholic Archdiocese of Salzburg. On the reverse is a central shield with ornate detail.

Today commemorative Ducats are still being minted. The Hungarian mint still mints commemorative coins with 2, 3, 4 and 6-ducats quality. Netherlands still issues golden and silver ducats having the same weight, composite and design when they were first minted in 1586. Indeed, these Ducats are still very popular all over the world.

So when someone asks you what an Austrian Ducat is worth you should be able answer. It would have to depend if you are talking about a single Ducat or a 2,3,4, or 6 ducat quality. To find out more be sure to contact a World Coins Advisor at Austin Rare Coins & Bullion.

Very First Spanish Silver 8 Reales

To fully understand how the very first Spanish Silver 8 Reales was created you have to understand a little Spanish history. From 1475 to 1500 Spain was in a time of transition. It was the beginning of one of the largest empires in history known as the Spanish Empire or Hispanic Monarchy. In addition, it was the formation of the dynastic union between Isabella I of Castile and Ferdinand II of Aragon. Basically, the king and queen of the Crown of Castile and the Crown of Aragon forming a joint reign. The young couple got married on October 19, 1469. She was 18 years old and he was only seventeen.

Both signed a document in 1475 called the Concord of Segovia. In short, this is where the real transitioning of power began. In other words, both of them would have the same power in managing their kingdoms. This system remained valid throughout their reign as Isabella started to age. By transferring ruling competencies to Ferdinand, he and his Aragonese advisors had almost all the power by 1500.

The Spanish dollar, also known as the piece of eight, started to be minted by the Spanish Empire. To clarify, this followed the monetary reform in 1497 and was widely used as the first international currency. In fact, some countries, including the United States countermarked the Spanish dollar. Therefore, once the coin was properly weighted with an addition mark or symbol, it could be used as their local currency. This practice is no longer in use, but at the time it was a cheaper alternative. Otherwise, they would have to recall or confiscate the coins, melt them down, and replace them.

Spanish 8R minted at the Toledo Mint

Ferdinand & Isabella had the very first Spanish Silver 8 Reales minted at the Toledo Mint. In fact, the video below is and incredible Spanish rarity. It is the first ever and only certified Spanish 8 Reale struck of silver during Ferdinand & Isabella reign (1474-1504). What make this particular coin so unique is that it was issued at the Toledo Mint. Furthermore, it is the only one certified in any condition. On the front of the coin is a crowned coat of arms. On the reverse is star with eight arrows.

The Spanish dollar was the coin upon which the original United States dollar was based. As a matter of fact, it remained legal tender in the United States until the Coinage Act of 1857. To find out more about the very first Spanish Silver 8 Reales by calling a Rare Coin Advisor at 1-800-928-6468.

How to identify a shipwreck coin

Be careful trying to buy coins that are supposed to be from a famous shipwreck. How to identify a shipwreck coin should be left to the experts. It is hard to determine if a coin is a shipwreck coin just by looking at it. How is the average person supposed to know if a coin was hidden in a shipwreck for over a hundreds of years? Even if a coin is actually from a shipwreck it could be in terrible condition and not worth very much. However, those salvaged in good to excellent condition can be worth a lot of money. Especially, if they are a from a rare date and only a few surviving coins actually exist.

Austin Rare Coins & Bullion is one of the premier shipwreck coin dealers in the United States. They know how to identify a shipwreck coin. In fact, they specialize in high-end shipwreck coins dating back to 1845. Above all, they only deal in shipwreck coins certified and authenticated by NGC or PCGS. These two top coin grading corporations are the best known and trusted in the business. 

The S.S. Central America

Usually, premier shipwreck gold and silver that has been salvaged in good and very good condition come from one of the four major U.S. shipwrecks. For example, the S.S. Central America, otherwise known as “The Ship of Gold” sank off the Carolinas in 1857 in a terrible hurricane. It is probably one of the best known shipwrecks due to the amount of treasure found onboard. 133 years after it sank, the S.S. Central America was located by the Columbus-America Discover Group of Ohio. Thanks to the recent advent of underwater robots, items from this famous shipwrecks were brought to the surface and saved. The newest deep sea recovery technology was utilized to bring up and preserve these historic, National Treasures.

Austin Rare Coins was one of the few companies to offer sunken coin treasure from The S.S. Central America. Moreover, they offer the American public a rare opportunity to acquire a rare shipwreck coin from this important piece of California Gold Rush history. Each coin in this exclusive release comes sealed in a specially-designed PCGS holder to protect the intricate details of the coin. In addition, each holder contains a pinch of gold dust recovered from the shipwreck.

Other Shipwreck Coins

Austin Rare Coins feature gold and and silver shipwrecked coins from other shipwrecks as well. Over the past two decades they’ve handled rare coins from the S.S. Brother Jonathan of 1865, the S.S. Republic of 1865, and the S.S. New York of 1845. All of the coins they handle are original, certified shipwreck recovered coins. It is worthy to note, Austin Rare Coins has been involved with every major shipwreck offering since the 1990s.

If you’re interested in learning more about historically significant shipwreck coinage you should request our Shipwreck Collection Report. Importantly, it will help you how to identify a shipwreck coin. That is to say, it is loaded with U.S. shipwreck history, pictures, and descriptions to give you a solid foundation of knowledge and ideas. In conclusion, if you have questions or need assistance on where to start, just give us a call, we’re happy to help. 1-800-928-6468

Rare $20 Double Eagle Gold Coin

People often ask us what a rare $20 Double Eagle Gold Coin is worth. Well, a fashion mogul Stuart Weitzman’s 1933 Double Eagle gold coin sold for $18.9 million at Sotheby’s Auction in New York! It shattered the world auction record. In fact, it nearly doubled the record for the world’s most valuable coin ever sold.

But, why was this rare $20 Double Eagle Gold Coin worth so much? It was because the 1933 edition of the Double Eagle never entered circulation. Consequently, nearly all of them were returned to the US government and melted down. There were only a few of these coins that somehow entered the market. Therefore, the Secret Service in 1944 declared any of them owned by collectors would be prosecuted. Because, they considered these coins stolen.

There are many other less rare $20 Double Eagle Gold Coins. Some range from a few thousand dollars to tens of thousands, and even hundreds of thousands of dollars. What makes one more rare than another are several factors. A few of the them being:

  • Strong Demand For The Coin
  • Collector Appeal
  • Eye Appeal
  • State of Preservation
  • Certification of Grade

Collectors look for the “perfect” coins to own. Above all, they want to acquire the rarest and best quality coins they can comfortably afford.

1857 Double Eagle Gold Coin in Mint State 60 | Eureka Hoard

For example, the Double Eagle Gold Coin in the video below is also a very rare coin. In addition, it is in Mint State 60 condition. It is a 1857 Philly Double Eagle pedigreed from the Eureka Hoard. This beauty contains .9675 oz of pure gold and comes from a low mintage of 439K. More importantly, it is one of a few dozen known in mint condition.

For a little more than 3 times gold melt value—it seems to be an excellent value in today’s market. Incredibly, this is one of only 31 in the grade of Mint State 60. Additionally, just 108 are known finer.

This is a great coin for the money and is actually available for sale. Furthermore, Austin Rare Coins rates this coins “Highly recommended!” People collect coins for many reasons including fun and profit. Certainly, this 1857 $20 Double Eagle Gold is a great coin to add to anyone’s collection.

The Wealth of the Persian Empire

The Persian Empire was a series of imperial dynasties centered in modern-day Iran. It spanned from 559 B.C. to 330 B.C. The Wealth of the Persian Empire was because they were the first empire to embrace a monetary system. They bought and trading goods with coinage and were also the first to collect taxes in coins. These factors led the Persian Empire to thrive and Persian Kings to be fabulously wealthy. This wealth enabled Persians to build superior roads. In fact, their roads linked major trade partners and massive architectural wonders within their Empire

Great leaders of the Persian Empire, also known as the Achaemenid Empire, included Cyrus the Great, Darius, and Xerxes. In addition, other family members ruled the Achaemenid Dynasty. These great leader were the first in the world to embrace a monetary system and created wealth around coinage. Consequently, they were the first to collect taxes in coins rather than in goods and services. These factors led them to thrive and the Persian Kings to be fabulously wealthy.

Persian Empire Falls in 330 B.C

The Persian Empire change when the mighty new king of Macedonia, Alexander the Great, came to fight the Persians. He conquered the Persian Empire in 330 B.C. Alexander captured the palace of Xerxes where he found tons of gold and silver bullion methodically stored! Alexander pillaged the wealth in order to have money to pay his men. Over a period of three months the ceremonial Persian capital of Persepolis was all but destroyed. Evidently, it was too dangerous to leave any enormous treasures behind where his enemies could recapture them.

Austin Rare Coins is a premier ancient coin dealer that specializes in Wealth of the Persian Empire and high-end Persian Ancient Coins. Most importantly, all our ancient coins are certified and authenticated by NGC Ancients. As a result, Austin Rare Coins is the top ancient coin grading corporation in the business. Let us assist you in finding the exact ancient coins you are looking for.

Just give us a call, we’re always happy to help. You can also Learn More About Ancient Coins by Downloading Our Free Ancient Coin Report!

Alexander the Great Conquered Babylon

The Persian Achaemenid Empire ruled Babylon for about two hundred years. They were the first super power of the ancient world. Their vast empire reached from India down to Egypt and all the way up to the northern border of Greece. The Achaemenids were an unstoppable force until Alexander did the unthinkable. Alexander the Great conquered Babylon and defeated the Achaemenids in 331 BCE. Alexander’s actions change the entire ancient world.

Alexander learned to be a great leader and powerful imperialist from his father Philip II. He also learned to be a battle strategist. Moreover, he knew what the odds would be against an outmatched manpower. But, despite the odds Alexander relied on speed and distraction to achieve victory after victory. Subsequently, Alexander the Great conquered Babylon giving his army a huge decisive victory. A success that gave him the confidence and the momentum to continue marching on towards the east.

Babylon was Alexander the Great’s greatest conquest and “to the victor belong the spoils.” Giving proof to the proverb that the winner is entitled to all of the rewards, bonuses, and benefits of success. Consequently, Alexander’s troops and generals needed to share in those spoils. The spoils that included hoards of gold coins minted by the Persians.

Alexander melted down the Persian coins to re-mint gold double darics. He kept the same Persian features of a kneeling king or hero holding a bow and spear on the front of the coin. This was done in homage and respect of the mighty Persians. However, it was also propaganda to prove that the mighty Macedonian army were not only the victors, but also a generous new leader.

Babylonian Gold Double Daric

Alexander the Great’s gold double daric struck in Babylon is one of the true rarities of the Alexander the Great Series. Upon Alexander’s invasion of central Asia, darics and double darics melted down and recoined as coins of Alexander are quite rare today. To clarify, only a handful of them even exist.

Double darics are far more difficult to find than the regular gold darics. To find a double daric today that commemorated Alexander the Great conquered Babylon is a newsworthy occurrence. This is a very important coin dating back over 2,300 years and is a rare find in any condition.

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Austin Coin Dealer Specializing in Rare Coins, Ancient Coins, Gold, and Silver

Austin Rare Coins & Bullion has done business with tens of thousands of satisfied clients in both buying and selling rare coins and precious metals. If you have questions and would like to talk to one of our Austin Rare Coins Advisor, just give us a call at 1-800-928-6468. Someone will be happy to assist you with all your questions. Remeber to ask about our Hard Money Investor, and how you can get your own free copy!