A very rare 1714 Mexican gold coin will be offered at a live auction on Aug. 6 in Las Vegas where it’s expected to fetch between US$200,000 and US$400,000.
The coin, also known as the Presentation 8 Escudos, was believed to be minted for Spanish dignitaries, most likely for the king, as a symbol of Spain’s success in expanding into the New World, according to Stack’s Bowers Galleries, a leading numismatic auction house that is handling the sale.
The rare gem and several more like it had apparently sunk in a hurricane when they were being sojourned from the New World to Spain in 1715. They were later discovered from the shipwrecks over the last 50 years at different intervals and all of them considered “treasure coins.”
The coin which features a ‘perfectly centered, bold strike upon a planchet free from impurities’ along with intriguing yellow-gold hues and mint luster was offered from the collection of D. Brent Pogue, a famous coin collector who died in 2019 at age 54.