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.

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

Hard Money Investor

The Precious Metal Industry’s Leading Publication

If you’re interested in physical precious metals, then you MUST read Hard Money Investor! In addition, our groundbreaking newsletter will offer you:

•  Clear, Concise, and Timely Market Intelligence 
•  Reliable and Straightforward Economic Analysis
•  Insider Information You Won’t Find Anywhere Else

Clients often ask us for timely, up to the minute, news on the economy. Above all they want to know about Precious Metals as we head into the new decade. Great News, we have key insider information to share that can help you make solid decisions about your financial future.

Austin Rare Coins Bullion is please to announce the latest release of our ground breaking Precious Metals Publication: the Hard Money Investor. There are many reasons to read this newsletter. Above all, it will help keep you abreast of concise and to the point news on the economy. Especially, the markets as they pertain to gold, silver, platinum, and palladium.

Inflation & Rising Interest Rates

Our Newest Winter 2022 edition of Hard Money Investor sheds light on the physical precious metals market in the wake of inflation and rising interest rates. We also take look at how this could impact economies across the globe as the new year unfolds. Hard Money Investor is available free to anyone looking to gain an edge on the Precious metals Markets.

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!

Gold Cobs are The Original Doubloons

Spanish Colonial gold coins salvaged from the 1715 Fleet off the east coast of Florida are called Gold Cobs. Gold Cobs are the original Doubloons. Therefore, the Doubloon is a solid gold coin. Even though the Spanish called their gold coins Escudos, Doubloon became the nickname for a two Escudo coin. In addition, the word Doubloon is actually taken from pirates calling these two Escudos “double-one,” which turned into “Doubloon.”

As commerce increased between North America and South America so did the need for coins. Spanish Gold Cobs were minted from the early 1600s to the early 1800s. They were minted in Bolivia, Chile, Columbia, Guatemala, Mexico, and Peru and were circulated as far north as Canada. Pirates sought after these Gold Cobs. Because, Gold Cobs are The Original Doubloons. In fact, they would attack and sink Spanish Colony ships just to get their gold. As a result, coins circulating freely during the colonial period of the New World, became easy targets.

1718 Peruvian 8 Escudo

Check out this absolutely remarkable gold coin in the video below. It’s a Peruvian gold 8 Escudo that was struck in Lima Peru in 1718. Additionally, it is one of only 4 coins like this certified by NGC in all grades combined. Above all, it is the finest known and certified in Mint State. This coin contains just about an ounce of pure Spanish gold.

The obverse shows the pillars of Hercules with ocean waves below it and a tick-tac-toe imagery of letters and numbers signifying when and where the coins was made. This 1718 Peruvian 8 Escudo has a Jerusalem Cross on the reverse with castles and lions in the four corners. Coins like this are extremely desirable for collectors and investors. This is one of the finest we have ever seen.

If you are interested in finding out more about this coins and others like it check out this page or call and talk to a Rare Coins Advisor at Austin Rare Coins at 1-800-928-6468.

Coin Collecting Can Be Profitable

Coin collecting is not only a rewarding and enjoyable hobby, but if done properly, coin collecting can also be profitable. In this report and the video below, we will share some of the most important things to keep in mind when coin collecting. This is in order to maximize the rewards of assembling a profitable collection, regardless of your budget.

  • The first thing is to make sure that you’re collecting an area with a solid base of other collectors. You can have the rarest coin in the world, but if nobody else wants it, then it’s unlikely to see much appreciation.
  • Make sure you own coins that are attractive. To clarify, a great looking coins will always catch the eye of a potential buyer.
  • Make sure you acquire and own coins that have been professionally graded. This should be done by a third party grading service like NGC or PCGS—the tops in the business.
  • Try to focus on key dates. Do not try to collect the most common dates for a particular issue. These key dates, or “Stoppers” in a series tend to be harder to find. These are the coins other collectors will need to complete their sets.
  • Most importantly, work with someone you can trust to give you fair prices and solid advice. It helps to work with the same dealer you started with, especially if you want to trade up or if you sell a few of your coins. Remember, if you overpay for something, you are at a disadvantage. It may take a while to recoup the original investment. Above all, coin collecting can be profitable if you collect the right coins!

Coin Collecting is FUN!

Remember, coin collecting isn’t just about profits—Coin Collecting is FUN! Historically significant areas of collecting allows you to own items that have been around for hundreds or thousands of years. You can literally hold history in your hands.

With that said, a collection put together over time with attractive and desirable coins can appreciate over time. Try to invest in coins at reasonable prices and allow for time for it to appreciate. Certain areas of the coin market have proven to be a profitable venture for many of our clients. If you have questions or need to be pointed in the right direction, give Austin Rare Coins a call! Let our decades of experience help you put together your own impressive collection.

What is a Spanish Escudo coin?

A common question we get is “What is a Spanish Escudo coin?” The Escudo was and is Spanish currency. Escudos comes in both gold and silver. Interestingly, the first Escudo gold coins were introduced in 1535/1537. They were issued in denominations of 12, 1, 2, 4 and 8 Escudos. In addition, the 2 Escudos coins were commonly known as Doubloons and worth 16 reales.

Gold Escudos were issued until 1833. They are beautiful coins with great attention to detail. As a result, these gold coins from Spain in the 1790’s have remarkable eye appeal. Today’s coin collectors and investors love the rarity and value found in gold Escudos. In fact, Gold Escudos are some of our best selling coins at Austin Rare Coins.

Silver Escudos were also circulated throughout Spain and its colonies. To be specific, Silver Escudos were currency of Spain between 1864 and 1869. “The escudo replaced the Real at a rate of 10 reales = 1 escudo.”

2 Escudos Doubloons

2 Escudo gold coins are also referred to as Doubloons and are worth approximately 32 reales. They weigh 6.766 grams, or 0.218 troy ounces of 22-karat gold. 2 Escudos were minted in Spain and also Spain’s viceroyalties. The viceroyalties included Mexico, Peru, modern-day Colombia, Ecuador, Panama, and Venezuela. It is interesting to note, the Escudo replaced heavier gold excelente as the Spain’s standard gold coin. Therefore, doubloons succeeded the doble excelente or double-ducat denomination.

1795 Spanish 2 Escudo

Below is a video of a 2 Escudo currently for sale at Austin Rare Coins. Amazingly, this is one of just 14 coins like this ever graded. There is only one in this Mint-State 61 grade and only one finer certified by NGC. We love the rarity and value to be found in this 2 Escudo gold from this timeframe, particularly at this attractive price point.

On the front side you will find the draped profile bust of Charles IV facing to the right. Meanwhile on the reverse there is a shield just below a crown within the Golden Fleece Order collar. This is definitely a beautiful rare gold coin and should answer the question “What is a Spanish Escudo coin?”

1795 Gold Spanish 2 Escudo

How much is a Venetian ducat worth?

When someone asks us how much is a Venetian Ducat worth? We always have to ask what condition the coin is in and how old it is. For instance a Venetian Ducat from 1400-1413 in Mint State 67 are extremely rare and worth a lot of money. In fact, only 9 are known to be in such a pristine condition. Plus, there are only 141 of these coins even graded. Coins like this were produced in the eastern Mediterranean regions south and east of Venice.

A Venetian Ducat, ND. Michele Steno, 1400-1413 features Doge kneeling before the standing figure of St. Mark on the obverse. Christ standing within stars and holding the gospel is on the reverse. The coin we are featuring in the video below has a perfectly centered sharp strike, full luster, and absolutely beautiful. NGC has certified this magnificent coin to be in MS-67 condition.

A Collectable Coin

Another question we must ask before we can answer how much is a Venetian Ducat Worth is how heavy does it weigh? The weight and intrinsic quality of the coin are as important as its external appearance. “Venetian ducat was 3.545g of pure (by Renaissance standards) gold – it was essentially a bullion trading coin.” Today one gold ducat would be worth around 150 dollars depending on the current price of gold per ounce. Of course, a certified Venetian Ducat from the early 1440s in perfect Mint State are worth more than just the intrinsic value. Because this coin is rare and a collectable it has much more value and interest to a collector.

Throughout the years a gold ducat of Venice has gained wide international acceptance. Above all, coin investors and collector alike have discovered the excitement of owning such a coin. Just like the medieval Byzantine hyperpyron, the Florentine florin, or other rare and precious coins. This coin would be a great addition to someone’s collection.