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Lima Rincon - VF Details
Philip II (1556-1598). 1/4 real. ND (1568-1570). Lima. R. (Alonso Rincon). (Cal-94). (EMO-403.10, Plate coin). Anv.: PHILIPVS · II · HI. Rev.: SPANIARVM · E. . 0,77 g. Struck on a broad round flan, this early Peruvian minor offers completely intact outer legends, a feature rarely seen for the type. The noted saltwater damage is fairly minor, and the coin presents exceptionally handsomely overall. Slabbed by NGC as VF Details, Saltwater damage. Ex EMO Collection. Ex Daniel F. Sedwick (18/05/2016), lot 921. Est...1200,00.
Kings of Paeonia. Patraos. Tetradrachm. 333-315 BC. Astibus or Damastion. (Hgc-3.1-148). (Sng Ans-1032). Anv.: Laureate head of Apollo right. Rev.: Warrior on horse rearing right, spearing enemy who defends himself with raised shield; ΠATPAOY around, kantharos in lower left field. . 12,35 g. Choice VF/VF. Est...250,00.
Lima Rincon
Philip II (1556-1598). 2 reales. ND (1568-1570). Lima. R (Alonso Rincon). (Cal-333). . 6,44 g. Assayer to left, P above and two dots below P-LVSV-T. Legends HISPAN/NIARVM. Very sharply struck and complete data. Slight double coinage on obverse and minimal corrosion. Nice grey patina. Very rare in this condition. XF/AU. Est...1500,00.
8 reales Rincon!! - AU details
Philip II (1556-1598). 8 reales. ND (1568-1570). Lima. R (Alonso Rincon). (Cal-651). (Calbetó-243 var). (Cy-3911). Anv.: PHILIPVS : II : D : HISPA. Rev.: NIARVM · ET · INDIARVM · REX. . 25,51 g.
Assayer R to the left of the shield; on the reverse, above the waves, the denomination 8 in Arabic numeral, and in the center, the inscription PL/VSV/LT. Legends are complete, though somewhat weak in certain areas. An extraordinary obverse, considered among the finest known. Slight double striking and hairlines on the reverse. Fine transversal crack, more pronounced on the reverse, with some excess of metal. Extremely rare. Slabbed by NGC as AU Details, Obv. Tooled.
These coins are regarded as the first South American “dollars.” They were minted without explicit authorization and exhibit notable technical deficiencies — such as weight below the legal standard, irregularities in the die work (including double striking and cracks), the use of dies with spelling errors, and rudimentary engraving — which led to the rapid suspension of their production. They belong to the earliest 8 reales issues in the Americas, produced by assayers surnamed Rincón at the mints of Mexico (1538), Lima (1568–69), and Potosí (1575). Only three specimens are known from Mexico; those from Potosí number only a few dozen, while Lima pieces, such as this example, have fewer than ten registered specimens, making them iconic in colonial numismatics.
The Lima Mint was authorized by Philip II by Royal Order on August 21, 1565, although actual operations did not commence until September 1568. Under the direction of assayer Alonso Rincón — son of the renowned Rincón of Mexico — the mint was established in the local government building, which also served as a jail. On September 2, 1568, the die bearing the initial "R" was delivered, and the first silver deposits date from the 6th. In just over a year, more than 20,000 marks of silver were recorded, originating both from the Royal Treasury and a small group of local merchants known as "silver banks."
The mint’s activity was intense but brief and troubled. By late 1569, following an official inspection, various irregularities were detected, including the alleged misappropriation of seigniorage — the fiscal profit from minting — as well as the production of 8 reales coins not stipulated in the original regulations. Treasurer Lope de Mendaña was accused and convicted but later acquitted with a symbolic fine. Viceroy Francisco de Toledo later confirmed that, although not included in the initial ordinances, the mint was indeed authorized to produce duros (8 reales coins). After the scandal, operations ceased on October 11, 1569, and partially transferred to La Plata.
According to several specialists, including Paoletti, the striking of these exceedingly rare duros from Lima dates between 1568 and 1570. This specimen most likely corresponds to the brief and turbulent initial period, between September 1568 and October 1569. It is a piece of immense rarity, with fewer than ten specimens held in public and private collections, although no exact census has been published. Est...35000,00.
NGC - MS 64 Top Pop!!
Philip II (1556-1598). 1/4 real. ND (1577-1588). Lima. (Diego de la Torre). (Cal-102). (EMO-423, Plate coin). . 0,85 g. Shield between ★ and P. Variety with "★" mintmark on reverse to right of lion. Free of damage and almost devoid of circulation wear, this is an impressively original specimen. While it does feature some roughness and imperfect die state, the coin retains excellent legibility of the outer legends. Slabbed by NGC as MS 64 (Top Pop), the finest known in the NGC census. Ex EMO Collection. Est...1500,00.
Phrygia. Apameia. AE 23. 100-50 BC. Attalos and Bianoros magistrates. (Sng Cop-165/6). (SNG von Aulock-3468). (Bmc-54). Anv.: Bust of Athena right, wearing high-crested Corinthian helmet. Rev.: Eagle alighting on base with maeander pattern, flanked by caps of the Dioskouroi; ATTAΛOY-BIANOPOΣ in two lines below. . 8,03 g. VF. Est...90,00.
1/2 Real Panama!! AU Details
Philip II (1556-1598). 1/2 real. ND (1580-1582). Panama. PM. (Proctor-HR.1PM). (Cal-133). (Km-1). . 1,40 g. A/P to the left, P to the right, and M below the complete crowned monogram. Good strike, well-centered with all details clearly visible. Delicate and attractive patina with traces of luster on the obverse. Broad flan with beautifully defined castles and lions. Unique issue with dual assayers, featuring large lions and a reverse legend with the inverted “D” in “INDIARVM.” From other auctioned examples, we know the obverse legend ends with a backward “D” followed by a dot.
This is a magnificent coin, certain to catch the eye of collectors of this period. Extremely rare, with only a few known specimens. Slabbed by NGC as AU Details, Environmental damage. All examples of this type are designated as “Details” by NGC, and this particular piece is ranked among the top 10 highest-graded specimens certified. It represents an excellent opportunity to acquire one of the finest known examples of this rare variety, which seldom appears on the public market. This coin is exempt from any export license fee. Est...15000,00.
NGC - XF 45 Top Pop!!
Philip II (1556-1598). 2 reales. 1597. Granada. M. (Cal-329). (Jarabo-Sanahuja-A146, Plate coin). . 6,74 g. Type OMNIVM. Value II lying to left, M/G to right. Inner frame on the reverse. The legend begins at 7h, with the date at 6h. Nice patina. Magnificent specimen for the type. Rare. Slabbed by NGC as XF 45 (Top Pop), the finest known in the NGC census. Ex Cayon (05/16/2012), lot 517. Est...1800,00.
2 Reales Panama!! XF Details
Philip II (1556-1598). 2 reales. ND (1582-1583). Panama. B. (Proctor-2R.1B). (Cal-362). (Km-3.3, no price). . 6,68 g. A/P/II to the left, oB to the right of the shield. Very well struck considering the usual rusticity of the series. Shield, crown, and cross fully intact. Slight double striking on the reverse. Part of the legend is visible.
As with lot 143, we are confident it will appeal to collectors of this period. Undoubtedly, it is an exceptional opportunity to acquire a specimen rarely offered publicly.
Extremely rare, with only 4 to 5 known examples. Encapsulated by NGC as XF Details, Environmental damage.
In 1579, Philip II authorized the minting of silver coins in the city of Panama, establishing rules on their composition and design, including the use of the mintmark PA, with the A superimposed. Although documentation on this mint was discovered in 1952, its existence remained little known and went unnoticed by numismatists.
Recent research by J. Proctor confirmed it operated between 1580 and 1583, and that the cobs with crowned shields and the A over P mark correspond to its production.
These coins are extremely rare, with very few known specimens in all their variants. The identity of the assayers is unconfirmed, although it is suggested that Bernardino Rodríguez may have worked there in 1582–1583. This coin is exempt from any export license fee. Est...10000,00.
NGC - MS 62 Top Pop!!
Philip II (1556-1598). 4 reales. ND (1577-1588). Lima. D. (Diego de la Torre). (Cal-501, Plate coin). . 13,77 g. P/4 to the left, */oD to the right of the shield. Very round struck with full legends. Inner lattice on a part of the crown base. This beautifully preserved survivor, vastly superior than normally encountered, exhibits boldly struck devices with a full complete shieldan crown. Excellent eye appeal and magnificent specimen. Extremely rare in this state of preservation. Slabbed by NGC as MS 62 (Top Pop), the finest known in the NGC census. Ex Áureo&Calicó Selection (10/03/2016), lot 121. Retains the auction lot-tag. Est...2000,00.
Ex Sellschopp Collection
Philip II (1556-1598). 4 reales. ND (1574-1576). Potosi. R (Alonso Rincón). (Cal-518). . 13,39 g. Mint and assayer to the left. Legends nearly complete. Slight rubbing at the top, likely from an attempt to remove deposits. Very rare. Desirable pedigree from the Luis R. Ponte Collection and the Sellschopp Collection (Swiss Bank Corp. auction of September 1988, lot 31); also illustrated on Plate 14 of Las acuñaciones de las cecas de Lima, La Plata y Potosí (1971) by Sellschopp; on Plate 333, page 114, of El Medio Duro (1971) by Pellicer i Bru; and on Plate 17, page 52, of The Coinage of Peru (1978) by Grunthal-Sellschopp. Choice VF. Est...1200,00.
NGC - XF 45
Philip II (1556-1598). 8 reales. ND (1586-1589). Potosi. A. (Cal-674). . 27,31 g. P/A to the left, value VIII to the right of the shield. Arms of Flanders and Tyrol transposed. Very well struck, with good eye appeal and part of the legend visible. Beautiful old cabinet tone. Rare in this condition. Slabbed by NGC as XF 45. This coin is exempt from any export license fee. Est...1500,00.
Ex Isabel de Trastámara
Philip II (1556-1598). 8 reales. 1591/0. Segovia. (Cal-712). (Jarabo-Sanahuja-A455). . 27,18 g. Aqueduct with three arches and two floors. Very clear overdate. Large castles with bricks. Three fleurs-de-lis in the arms of Burgundy. The M of HISPANIARVM touching the crown. Light patina. Very good specimen. Rare. Ex Isabel de Trastámara Collection, Aureo&Calicó (26/05/2016), lot 451. Almost XF. Est...3000,00.
NGC - AU 58
Philip II (1556-1598). 8 reales. ND (ca. 1588). Sevilla. (Cal-720). (Jarabo-Sanahuja-A558). . 27,30 g. Fleur-de-lis between shield and crown with roundels intercalated. Square assayer on reverse. Attractive struck especially well done and very rounded. The V of PHILIPPVS is an inverted A and the H of HISPANIRVM without crossbar. Rare in this condition. Slabbed by NGC as AU 58. Only 3 finer specimens in the NGC census Ex Áureo&Calicó Selection (12/03/2020), lot 156. Retains the auction lot-tag. Est...900,00.
PCGS - MS 61 Top Pop!!
Philip II (1556-1598). 1 escudo. ND (1566-1576). Toledo. M. (Cal-800). (Tauler-51). . 3,33 g. T/M on the left, value on the right. Some luster, and nice color. Very attractive and rare in this grade. Slabbed by PCGS as MS 61 (Top Pop), the finest known in the PCGS census. Est...2000,00.
Ex Caballero de las Yndias - AU 55
Philip II (1556-1598). 2 escudos. ND (1566-1587). Sevilla. (Cal-827). (Tauler-30). . 6,70 g. Square S/d to the left, value II to the right. No king’s ordinal in the legend. Shield and crown fully complete. Lovely color. Rare. Slabbed by NGC as AU 55. Ex Caballero de las Yndias, Áureo&Calicó (June 3, 2009), lot 1120, retains the auction lot-tag. Est...3000,00.
Rare date - VF 35
Philip II (1556-1598). 2 escudos. 1594. Sevilla. B. (Cal-850). (Tauler-49). . 6,75 g. Mint, denomination, and assayer to the left of the shield; date vertically positioned to the right, with the last digit clearly visible. This is an extremely rare piece: it is the third known example of this date that we have been able to document at auction and the second of this denomination. Slabbed by NGC as VF 35, although the date does not appear on the holder.
For reasons still unknown, the production of precious metals at the Seville mint in 1594 was abnormally low. In silver, only 3,799 kg were struck that year—a figure significantly below the output of the immediately preceding and following years: 113,339 kg in 1591, 96,410 kg in 1592, 101,223 kg in 1593, 193,450 kg in 1595, and 98,176 kg in 1596.
Gold coinage also experienced a sharp drop in 1594: merely 754 kg were minted, compared to 4,083 kg in 1591, 2,645 kg in 1592, 2,940 kg in 1593, 8,132 kg in 1595, and 2,476 kg in 1596.
Gold coins from Seville dated 1594 are exceedingly rare. Tauler only lists a single 2 escudos piece sold by Heritage Auctions in June 2007 (Tauler 049) and a 4 escudos example auctioned by Áureo & Calicó in their 2017 Selección sale. Est...2500,00.
PCGS - AU 55 Top Pop!!
Philip II (1556-1598). 2 escudos. ND (1566-1576). Toledo. M. (Cal-862 var). . 6,73 g. T/M to the left, value with two dots to the right. No roundel above the mintmark. Flanders and Tyrol arms exchanged. Nice color. Rare in this preservation. Slabbed by PCGS as AU 55 (Top Pop), the finest known in the PCGS census. Est...3000,00.
NGC - MS 62 Top Pop!!
Philip II (1556-1598). 2 escudos. 1590. Sevilla. (Cal-833). (Cal 2008-67, Plate coin). (Tauler-38). . 6,76 g. S/II/d square to the left, four-digit date to the right, vertically. Very sharp strike on a somewhat irregular flan. Lovely reddish patina. Rare. Slabbed by NGC as MS 62 (Top Pop), the finest known in the NGC and PCGS census. The second best is certified in AU 53. Ex Soler&Llach (10/15/2015), lot 525. Est...2500,00.
"Ingenio de la Tijera" - MS 63
Philip II (1556-1598). 4 escudos. 1591. Madrid. C. (Cal-882). (Tauler-4). (Fried-159). . 13,57 g. Type "Ingenio de la Tijera". Only 3 known specimens. Very fine style mintage with a lovely color and luster. Of the highest rarity and great interesting for the Spanish numismatic history. Superb specimen. Slabbed by NGC as MS 63. Only 2 other specimens are known; one of them auctioned by Daniel F. Sedwick 33 (03/05/2023), lot 27; and the other by Tauler&Fau 128 (07/06/2023), lot 145.
It would be a delight for any collector and the last opportunity to acquire a wonderful specimen that would be a highlight in any coin collection and we are sure we will not see it offered at auction for many years again.
One of Philip II's many reforms in the 1500s was to move the Spanish Court from its traditional royal seat in Toledo to the city of Madrid, where it remains today. That included creating a new mint in Madrid where none had existed before. Naturally, Philip was eager to start minting coins there, but only if they could be made of superior quality. Perfect, machine-struck coinage was already being struck at the Segovia mint starting in 1586 using what was known as “Real Ingenio" (“royal machine”). In Madrid, however, the king opted for a different minting experiment known as "Ingenio de la Tijera" (“shearing machine”), which had been developed by the royal blacksmith and knifemaker Miguel de la Cerda, on recommendation by the Third Count of Chinchón, Diego Fernández de Cabrera y Bobadilla.
Miguel de la Cerda’s invention consisted of a special method of pouring silver or gold into perfectly round solid cylinders matching the diameter of the coin dies, with each planchet hand-cut from one end with special scissors, so that no further trimming or flattening was needed. This was meant to save time and resources, while producing attractive coins with full and even details, a far cry from what was eventually produced in earnest at the Madrid Mint starting in 1614. The experiment was first tried at the Segovia and Toledo Mints in 1589-91, but since Madrid was the preferred destination, silver and gold were brought from Toledo to Madrid to carry out the experiment there as well in 1591. Since there was no mint, the workshop of the famous but recently deceased sculptor, engraver and medallist for the king, Jacome Trezzo (also known as “Jacometrezo”) was chosen for the striking in Madrid. Ultimately, however, it was not possible to continue to strike the larger-denomination coins due to lower river current to run the water mills. The highest denomination—and rarest—was the 4 escudos, as it seems no 8 escudos were even attempted, although the silver 8 reales (Cal-660) is known, the only extant example of which hammered in March 2021 by Aureo & Calicó for about $21,500.
For the next few years, de la Cerda was secretive about his invention, and little or nothing is recorded until a second experiment at the Seville Mint in 1597. The next year, 1598, de la Cerda died and passed the rights for his invention to his trustee, Dr. Baltasar Vellorino, who asserted that he was the one who had improved de la Cerda’s design to make 4’s and 8’s possible. Vellorino quickly pushed for a new agreement with King Philip II to implement the invention in his own name and receive 50 percent of the profits for twelve years; but the caveat was that invention would be used only at New World mints, starting with Mexico City. One month later, the King died and the crown passed to his son, Philip III.
The equipment was not shipped to Mexico until 1602, well into the reign of Philip III. Vellorino himself left for Mexico in 1603 and the machinery was all in place by the end of 1606, according to an early 1607 document. Back in Spain, a similar experiment by Segovia’s famous tallador Diego de Astor took place in 1610 at the Segovia Mint and in 1611 in Madrid (again at the studios of Jacome Trezzo). The experiment lost favor, however, and it was claimed in court that the new method was slower than promised and would effectively cause raw silver and gold to bypass Spain and go straight to Asia (Philippines, China and Japan) without benefit to mainland Spain. Researcher Jorge Proctor points out that these dates line up more or less with the first appearance of Mexican Royals (galanos), which were perfectly round and match what the new equipment would have produced. Apart from these galanos, there is no evidence this invention was ever fully implemented in the New World.
The “Ingenio de la Tijera” coins from Spain are therefore very important to the evolution of the long numismatic history of Spain and its American colonies.
For reference, two Spanish journal articles summarize and discuss the documentation:
“Dos experimentos acuñadores en Madrid: las pruebas de Miguel de la Cerda y Diego de Astor en las casas de Jacome Trezzo,” by Rosa Romero Molina, in issue 233 (July-December 1993) of NVMISMA (Sociedad Iberoamericana de Estudios Numismáticos)
“El Proyecto de implantación del Ingenio de la Tijera en las cecas de los Reinos de las Indias,” by Pedro Damián Cano Borrego, in issue 9 (2022) of Revista Numismática Hécate. Est...100000,00.
NGC - MS 60 Top Pop!!
Philip II (1556-1598). 4 escudos. 1590/89. Sevilla. (Cal-892). (Tauler-14a). . 13,48 g. S/IIIIII/ square d to the left, four-digit date to the right, vertically. Slight weakness in beginning of the date but very clear overdate.
We have only found 3 other specimens with this overdate auctioned in the last 20 years. Very rare.
Slabbed by NGC as MS 60 (Top Pop), the finest known in the NGC and PCGS census.
Ex Isabel de Trastámara Collection, Áureo&Calicó (26/05/2016), lot 585. Retains the auction lot-tag. Est...4000,00.
NGC - XF 40 Top Pop!!
Philip III (1598-1621). 4 reales. 1609. Granada. M. (Cal-726). (Jarabo-Sanahuja-B23, Plate coin). . 13,54 g. Tipo OMNIVM. All visible data and almost full legends. Inverted N's in the legend. Slight toned. Very rare. Slabbed by NGC as XF 40 (Top Pop), the finest known in the NGC and PCGS census. Ex Áureo&Calicó (25/05/2011), lot 248. VF. Est...900,00.
Calicó Plate - AU 55
Philip III (1598-1621). 4 reales. 1615. Sevilla. V. (Cal-818, Plate coin). (Jarabo-Sanahuja-B420, Plate coin). . 13,55 g. The legend begins at 11 h. Inner frame on obverse. Large flan with all data visible, full date and legends. This specimen has been referenced in the best specialized catalogs. Very rare in this condition. Slabbed by NGC as AU 55. Ex Isabel de Trastámara Collection, Áureo&Calicó (15/12/2016), lot 560, retains the auction lot-tag. Est...900,00.
NGC - AU 55
Philip III (1598-1621). 4 reales. 1611. Toledo. C. (Cal-837). (Jarabo-Sanahuja-B633, Plate coin). . 13,11 g. Legend begins at 5 h. Full 4-digit date and full legends. Lovely old cabinet tone. Rare in this condition. Slabbed by NGC as AU 55. Only 1 finer specimen in the NGC census. Ex José A. Herrero (28/05/2014), lot 517, retains the auction lot-tag. Est...600,00.
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