Philip IV (1621-1665). 2 reales. ND. Mallorca. Marks: Bezants in the city shield (Mint Master Jordi Fortuny de Ruesta y Sureda, 1664-1665). (Cal-873). (Cru C.G-4427). Ag. 4,70 g. Value mark ••. Flat wreath with flowers. Typical careless striking in this issue. Rare. Ex Crusafont Collection, Áureo & Calicó 237 (27/10/2011), lot 1238. Almost VF. Est...400,00.

Philip IV (1621-1665). 4 reales. ND. Mallorca. Mark: Shield with bezants (Mint Master Ramón Fortuny de Ruesta y García, 1631-1664). (Cal-1043). (Cru C.G-4425). Ag. 9,44 g. Value mark ••••. Flat wreath with flowers. Mint Master mark barely visible. Typical careless striking in this issue. Very rare. Ex Crusafont Collection, Áureo & Calicó 237 (27/10/2011), lot 1237. VF. Est...1200,00.

Catholic Kings (1474-1504). 1/2 real. Sevilla. (Cal-252). Ag. 1,45 g. “P” countermark attributed to Panama, applied to the obverse. S below the yoke. Somewhat warped and on a clipped flan, with light oxidation. Very rare. VF. Est...400,00.

Catholic Kings (1474-1504). 1 real. Burgos. (Cal-299). Ag. 2,81 g. “P” countermark attributed to Panama, well struck on the obverse. Cauldron at the end of the reverse legend. Light oxidation. Very rare. Almost VF. Est...1000,00.

Catholic Kings (1474-1504). 1 real. Sevilla. (Cal-408). Ag. 3,28 g. “P” countermark attributed to Panama, boldly struck on the reverse. Nearly complete legends. Very rare. Choice VF. Est...1000,00.

Catholic Kings (1474-1504). 1 real. Sevilla. Struck for Santo Domingo. (Cal-443). (Lf-F8.5). Anv.: : FERNANDVS : ELISABERD. Rev.: + : RE S : ET : REGINA : CASTELE : LEG. Ag. 3,32 g.

Three dots at the sides of the shield. Bundle of arrows to the left of the crowned F, with S below. Nearly complete legends. Inverted N letters and A without crossbar in the obverse legend.

Interesting variety (unlisted in López de la Fuente) showing obverse legend ending with Queen's name as ELISABERD. Very good strike for this issue. Extremely rare. XF/Almost XF. Est...3000,00.

Catholic Kings (1474-1504). 2 reales. Granada. R. (Cal-498). Anv.: FERNANDVS : ET ELISAB: . Rev.: + REX : ET REGINA : CAST ELEGIO:. Ag. 6,91 g.

Shield flanked by G - II, bordered by roundels. Open R on the reverse. Very round strike with full legends. Rare.

Slabbed by NGC as AU 55. Est...600,00.

Catholic Kings (1474-1504). 4 reales. Segovia. A. (Cal-552). (Bautista-1751). (Lf-H4.1.3). Anv.: FERNANDVS : ET : HELISABET : REX. Rev.: + ET : REGINA : CAST : LEGIO : ET : ARAG. Ag. 13,45 g.

Assayer A above a quatrefoil ornament to the left of the shield, denomination IIII to the right. Four-arched, two-tier aqueduct on the reverse. Broad and very round flan with complete legends. Some weak areas of strike. Attractive cabinet toning with light iridescent highlights.

Extremely rare; we have found only one other specimen auctioned in recent decades.

Slabbed by NGC as VF 25 (Top Pop), the finest known in the NGC census. Est...4000,00.

Catholic Kings (1474-1504). 4 reales. Sevilla. Ermine on the reverse. (Cal-554). Anv.: FER·NAN·DVS · ET · ELISABET · DE. Rev.: + REX · ET · REGINA · CASTELE · GIO · AR. Ag. 13,65 g.

Shield flanked by S-IIII. Small crack, slight double strike on the reverse and some weak areas in the legend. Light toning. Rare in this grade.

Slabbed by NGC as XF 45 (Top Pop), the finest known in the NGC census. Est...700,00.

Catholic Kings (1474-1504). 4 reales. Sevilla. Monogram GA. (Gaspar Hernandez). (Cal-563). Anv.: · FERNAN(DV)S · ET · ELISA :. Rev.: (...) · ET · REGINA · CAST(...). Ag. 13,32 g.

Exceptionally rare, with only four other specimens known to us. This is perhaps one of the assayer marks most clearly associated, in its appearance, with the silversmith's trade: the GA mark of the Seville silversmith Gaspar Hernández de Jerez, documented as active during the 1560s.

Ex Isabel de Trastámara Collection, Áureo & Calicó (13/12/2018), lot 968. Choice VF. Est...1000,00.

Catholic Kings (1474-1504). 1 excelente. Burgos. (Cal-634). Anv.: QVOS : DEVS : CONGVNGIT : hOMO : NON : SEPARET. Rev.: FERNANDVS : ET hELISABET : D : G :. Au. 3,42 g.

B between the busts and shield between ·-·, very faint. Light nick on the edge and small hole expertly repaired at 7 o’clock. Formerly used as jewelry, yet still an attractive specimen. Very rare.

Ex Áureo & Calicó 281 (20/09/2016), lot 556. VF. Est...1800,00.

Catholic Kings (1474-1504). Double excelente. Sevilla. (Cal-732 var). Anv.: + FERNANDVS · ET · ELISABET · DEI GRAC. Rev.: SVB · VNBRA · ALARVM TVAR. Au. 6,92 g.

Cross of roundels above, S between the busts, and ermine to the left of the shield. Calicó unlisted this variety, only with ermine on the reverse. Very rare.

Slabbed by NGC as AU 55. Est...4500,00.

Catholic Kings (1474-1504). Double excelente. Sevilla. (Cal-736). (Bautista-2232 var). Anv.: X: FERNANCVS: ET: HELISABET: D: EID. Rev.: SUB: UMBRA: ALARUM: TUA. Au. 6,96 g.

Cross potent above, S flanked by three pellets between the busts. Attractive specimen, with slight bend. Rare legend variety, with the D of FERNANDUS inverted and Latin U’s on the reverse.

Slabbed by NGC as AU 55. Est...4000,00.

Ferdinand the Catholic (1479-1516). Ducat. ND. Valencia. (Cal-123). (Cru V.S-1211). Anv.: + FERDINANDVS x DEI GRACIA x R. Rev.: + VALENCIE x MA - escudito con león - IORICRVM x SE. Au. 3,53 g.

Missing the second A in MAIORICARVM in the reverse legend. Bold strike with all details sharply defined. Pristine surfaces with a lovely intense yellow color. Superb specimen with excellent eye appeal. Very rare in this grade.

Slabbed by PCGS as MS 63 (Top Pop), the finest known in the PCGS census. Est...10000,00.

Charles-Joanna (1504-1555). Billon 11 maravedis. ND (ca. 1542). Santo Domingo. F. (Cal-36). Anv.: + KAROLVS · ET · I (...) REGIS · ISP. Rev.: (...) RLVS · ET · IhOANA · REGIS · I (...). Bi. 2,55 g.

‘F’ on the right, the inscription ‘XI’ on the left, the mint mark ‘P-S’ flanking a large crowned ‘R’ (which is thought to be a Gothic ‘K’ from ‘KAROLVS’). Planchet break. Extremely rare. Only eight specimens are known, all designed with a crowned R —supposedly a Gothic K for KAROLVS— flanked by the P-S mintmark on the obverse, and a castle flanked by denomination XI and assayer F on the reverse. In its time, it was equivalent to 1/4 real, as the real was valued at 44 maravedís.

All these elements are clearly visible on this specimen, together with much of the legend. It presents a split flan, affecting only part of the legend and not the main design elements. Irregular silver-copper color, typical of billon issues. Undoubtedly, this is a piece that will attract the interest of numerous collectors. This is the third time this issue has been offered at auction. The other two specimens were sold by Daniel Frank Sedwick: one in May 2018, lot 989, and the other in April 2008, lot 1136. F. Est...8000,00.

Charles-Joanna (1504-1555). 1 real. ND . Santo Domingo. (Sedwick/Rudman-Tipo 1R.2, same dies). (Cal-78 var). Anv.: CRAOLVS ET : IhOANA : REX. Rev.: CARVLV(S ♣ ET ♣ IOA)NA ♣ REGES ♣ PA. Ag. 3,28 g.

Early shield type. Large S-P mintmark and assayer at the sides of the pillars, with P within cartouche at center. Latin reverse legend. The coin displays dark toning with oxidation across the surfaces and light hairlines on the obverse, probably attributable to an old cleaning attempt.

This type corresponds to Variety 2 in the study by Cori Sedwick and Isaac Rudman on “The Silver Coinage of Joanna and Charles of Santo Domingo”, presented at the Convention of Historians and Numismatists held in Santo Domingo in 2023.

This is undoubtedly an extremely rare specimen, and we are confident it will attract considerable attention among collectors of this period. Choice F/Almost VF. Est...4000,00.

Charles-Joanna (1504-1555). 4 reales. ND (ca. 1538). Mexico. R (Rincon). (Cal-115). (Nesmith-Unlisted). Ag. 12,92 g.

Early series. Variety with oval panel and Latin R assayer mark. One of the last denominations struck in the series of Francisco del Rincon, the first assayer at the Mexico City Mint. The obverse corresponds to Nesmith variety 6d, with Gothic oMo - oMo mintmarks flanking the shield and the legend · KAROLVS :x: ET : IOhAИA.

The reverse corresponds to Nesmith variety 6a, with the motto PLVS between the columns and the legend KISPAИIE :x: ET :x: IИDIARVM :x:. Exceptionally round strike on a broad planchet, with all design elements fully visible and only slight weakness to the right of the shield. Soft, uniform gray toning. Very rare.

We are confident that this specimen will attract considerable interest among collectors of this period. It was slabbed by PCGS as VF 35 (53025607). Choice VF. Est...9000,00.

Charles-Joanna (1504-1555). 4 reales. ND (1541-2542). Mexico. P. (Cal-123). (Nesmith-25f). Anv.: + KAROLVS · ET · IOHANA · REX . Rev.: + HISPANIARVM · ET · INDIARVM · R. Ag. 12,97 g.

“Early Series”. Shield between M-P, flanked by roundels. Panel slanting to the right, with double roundels at the sides. No waves below the cartouche. Complete legends, with mascles separating the reverse legend. Light surface oxidation. Toned. Very rare.

Slabbed by PCGS as XF Details, Genuine, Env. Damage. Est...1500,00.

Philip II (1556-1598). Royal gold seal as King of Aragon, of exceptional historical importance. Obv.: + PHILIPPVS D G REX CAST ARAG HIER TOL GALL MA SAR. Royal figure seated on a high throne, holding scepter and globus cruciger. Rev.: + COMES BARC DNS VIZ ET MOL DVX HTH.ET NEOP COMES ROSS ET CER. Quartered shield with the crowned heads of the four Moorish kings, facing left and separated by the cross of Saint George. Gold. 93.85 g. 67.7 mm.

Executed using a mixed technique of striking and burin work. It presents four perforations on the edge —two at the top and two at the bottom— probably intended to house the suspension system by which the seal was attached to the document it sanctioned and authenticated.

The monarchs used pending gold seals to sanction documents of exceptional solemnity. Until the early 18th century, documentation issued for the Crowns of Castile and Aragon followed distinct sigillographic traditions and rules. The present piece fully corresponds to the model used in the Crown of Aragon since the medieval period: on the obverse, the sovereign enthroned and bearing the symbols of his dignity; on the reverse, the cross of Saint George cantoned by four heads of Moorish kings.

A gold specimen of Philip II closely related to the present example is preserved in the Museo Arqueológico Nacional, weighing 83.93 g and measuring 63 mm. According to the information published by the museum itself, that seal was originally formed of two faces joined by colored threads to the document it authenticated, now unknown. The MAN specimen was cut at an undetermined date, so that the obverse and reverse are now preserved separately. Its iconographic composition likewise follows the Aragonese model: the king enthroned with the attributes of his dignity and, on the reverse, the cross of Saint George with the four heads of Moorish kings.

The comparison with the specimen in the Museo Arqueológico Nacional is particularly significant, as it confirms both the Aragonese typology of this piece and its function as a great royal seal intended for the validation of documents of special importance. The present specimen, moreover, preserves the complete structure of the seal and the perforations linked to its original suspension system, a circumstance that considerably enhances its historical and sigillographic interest.

Ex Auktionshaus H.D. Rauch (25/05/1998), lot 2259. XF. Est...40000,00.

Philip II (1556-1598). 1/2 real. ND (1580-1582). Panama. oX. (Proctor-HR.2X). (Cal-134). Ag. 1,48 g. A/P on the left, extremely rare oX assayer mark to the right of the monogram, and variety with ornament below. Lions and castles within the cross on the reverse. Slightly irregular planchet with a small portion missing, but all identifying details visible.


An exceptionally rare coin that is highly unlikely to appear at auction again.


We have traced only four other specimens, one of which is illustrated in Jorge Proctor's catalogue, The Forgotten Mint of Colonial Panama, and another offered in Tauler & Fau, Selection 166 (11/12/2025), lot 82. Choice VF. Est...7000,00.

Philip II (1556-1598). 1 real. ND (1580-1582). Panama. oX. (Proctor-1R.5X). (Cal-234). Ag. 3,28 g. A/P to the left, I/oX to the right of the shield. Good full crown, shield, and cross, with a well-defined strike and abundant legend, especially on the obverse. Light surface oxidation. Extremely rare. Choice VF. Est...4000,00.

Philip II (1556-1598). 1 real. ND (1582-1583). Panama. (Proctor-1R.5B). (Cal-236). Ag. 3,29 g. Shield with oB on the left, and mintmark AP above the denomination I on the right. Exceptionally well struck for a series known for its particularly crude workmanship; both the shield and the cross are complete. Area of weak strike. Light toning.


A coin that will undoubtedly appeal to collectors of this period, representing an exceptional opportunity to acquire a type rarely offered on the market. Extremely rare.


In 1579, Philip II authorized the minting of silver coinage in Panama City, establishing regulations governing its fineness and design, including the use of the PA mintmark, with the A superimposed on the P.


Although documentation relating to this mint came to light in 1952, its existence remained largely unknown to the numismatic community for decades.


Recent research by J. Proctor has confirmed that the mint operated between 1580 and 1583, and that the cob coins bearing a crowned shield and the A-over-P mintmark were indeed struck there. These issues are exceptionally rare, with very few specimens known across all varieties.


The identities of the assayers have not been conclusively established, although it has been suggested that Bernardino Rodríguez may have served in this capacity between 1582 and 1583. Choice VF. Est...3000,00.

Philip II (1556-1598). 2 reales. ND (1568-1570). Lima. X/R. (Cal-334). Ag. 6,03 g. Rectified assayer X/R to the left, faintly visible, with P above and two dots below PL-VSV-TR. Legends HISPA/NIARVM. Light surface oxidation and somewhat irregular flan, with much of the legend visible. Toned. Very rare. VF. Est...1000,00.