PRESS RELEASE: NGC Certifies Extremely Rare 1695 Royal 8 Escudos
SARASOTA, FLA. (November 6, 2017) — Numismatic Guaranty Corporation® (NGC®) Numismatic Guaranty Corporation (NGC) has certified an extremely rare 1695 Royal 8 Escudos.
SARASOTA, FLA. (November 6, 2017) — Numismatic Guaranty Corporation® (NGC®) Numismatic Guaranty Corporation (NGC) has certified an extremely rare 1695 Royal 8 Escudos. Graded NGC MS 65, this coin was struck in Mexico City for royalty only to be lost in a shipwreck on its way to Spain.
Only two examples of this issue are known. One is impounded in a Florida museum. The other, now graded NGC MS 65, was recovered several decades ago from the shipwreck of the famous 1715 Treasure Fleet, in which 11 of 12 Spanish ships carrying vast amounts of gold and silver coins were lost in a hurricane off the coast of Florida. The coin’s 1715 Treasure Fleet provenance is noted on the NGC certification label.
At the time, Mexico was a colony of the Spanish Empire. Before the 1730s, its coins and the coins of other Spanish colonies were typically irregularly shaped pieces of gold or silver known as “cobs.” They contained the correct weight and fineness, and were struck from dies, but little effort was made to keep their shape consistent.
A cob would have been unsuitable to show to a Spanish monarch, especially if that monarch was featured on the coin. The Spanish Colonial mints would therefore expend great effort to create a very limited number of round, exactingly struck coins for presentation to royalty. These rare specimens are known as “Royals,” and they are highly prized by numismatists for their beauty, rarity and connection to royalty.
The 1695 Royal 8 Escudos graded NGC MS 65 is a stunning, pristine specimen. Its obverse features a crowned Habsburg shield surrounded by King Charles II of Spain’s name in Latin, while the reverse features a cross surrounded by a Latin inscription of his title of King of Spain and the Indies.
“This is one of the most spectacular coins that NGC has ever graded,” NGC Vice President Ken Krah. “It is truly a coin fit for a king.”
About Numismatic Guaranty Corporation® (NGC®)
NGC, the world’s largest and most respected third-party coin grading service, was founded in 1987. From the beginning, NGC has committed itself to developing an impartial, trusted standard of consistent and accurate grading. To uphold this commitment, NGC’s full-time grading professionals are no longer active in the commercial coin marketplace, and are prohibited from buying or selling coins to ensure impartiality. As NGC has grown to become the leader in third-party grading services, we have maintained a steadfast and uncompromising commitment to this standard. Learn more at NGCcoin.com.
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