Peru 8 Escudos 1742 "Only 6 Graded NGC" NGC 53
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PERU, Lima mint, Philip V, Gold Cob 8 Escudos, 1734-LN, NGC UNC Details (Removed from Jewelry), KM-38.2, Cal-2148, Onza-303 (Rare), Oro Macuquino-303. 26.94 grams. Only 6 graded by NGC.
A dazzling survivor from the Bourbon transformation of imperial Spain, this bold and sharply struck 8 escudos cob, minted in Lima in 1734, embodies the enduring power and wealth of the Spanish Empire under King Philip V (1700–1746). Though long ago mounted as a piece of jewelry—a fate not uncommon for such grand pieces of colonial gold—it retains the unmistakable beauty and brilliance of a Mint State coin, with deeply impressed details and exceptional eye appeal.
Struck at the Lima mint during a critical period of economic and political reform, this "Onza" represents more than just raw gold—it reflects the ambition of Spain’s first Bourbon king to modernize and centralize the empire inherited from the Habsburgs. Philip V, grandson of Louis XIV of France, ascended to the Spanish throne following the extinction of the Habsburg line, triggering the War of Spanish Succession (1701–1714). His victory reshaped European geopolitics and ushered in the Bourbon dynasty, which brought with it a new wave of French-inspired administrative reforms and a renewed emphasis on colonial exploitation.
During Philip’s reign, vast quantities of precious metals continued to flow from the Americas, funding court luxuries, military expansion, and the rebuilding of a war-weary Spain. The Lima mint, strategically located near the mines of Potosí, played a crucial role in producing high-denomination gold coinage like this 8 escudos piece—coins that would fuel imperial trade networks and often end up in the treasuries of European monarchs, global merchants, and privateers.
Despite its removal from jewelry, the coin maintains crisp legends, a bold shield and cross, and a full date—traits rarely seen together in this issue. With only six examples graded by NGC, and this one standing out for its sharp strike and strong preservation, it remains a coveted rarity among collectors of colonial Latin American gold. It’s a tangible link to the ambitions and contradictions of a monarchy striving to hold onto its global dominance in a rapidly changing world.
A dazzling survivor from the Bourbon transformation of imperial Spain, this bold and sharply struck 8 escudos cob, minted in Lima in 1734, embodies the enduring power and wealth of the Spanish Empire under King Philip V (1700–1746). Though long ago mounted as a piece of jewelry—a fate not uncommon for such grand pieces of colonial gold—it retains the unmistakable beauty and brilliance of a Mint State coin, with deeply impressed details and exceptional eye appeal.
Struck at the Lima mint during a critical period of economic and political reform, this "Onza" represents more than just raw gold—it reflects the ambition of Spain’s first Bourbon king to modernize and centralize the empire inherited from the Habsburgs. Philip V, grandson of Louis XIV of France, ascended to the Spanish throne following the extinction of the Habsburg line, triggering the War of Spanish Succession (1701–1714). His victory reshaped European geopolitics and ushered in the Bourbon dynasty, which brought with it a new wave of French-inspired administrative reforms and a renewed emphasis on colonial exploitation.
During Philip’s reign, vast quantities of precious metals continued to flow from the Americas, funding court luxuries, military expansion, and the rebuilding of a war-weary Spain. The Lima mint, strategically located near the mines of Potosí, played a crucial role in producing high-denomination gold coinage like this 8 escudos piece—coins that would fuel imperial trade networks and often end up in the treasuries of European monarchs, global merchants, and privateers.
Despite its removal from jewelry, the coin maintains crisp legends, a bold shield and cross, and a full date—traits rarely seen together in this issue. With only six examples graded by NGC, and this one standing out for its sharp strike and strong preservation, it remains a coveted rarity among collectors of colonial Latin American gold. It’s a tangible link to the ambitions and contradictions of a monarchy striving to hold onto its global dominance in a rapidly changing world.
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