1705L H Peru 8 Escudo 1715 Fleet NGC AU58

Currency:USD Category:Coins & Paper Money / Coins: Shipwreck Coins Start Price:18,900.00 USD Estimated At:NA
1705L H Peru 8 Escudo 1715 Fleet NGC AU58
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Rare 1705 Lima 8 Escudos (The Real Gold Doubloon)
This is a very rare and superbly preserved 8 Escudos recovered from the 1715 Spanish Fleet. It was minted in 1705 at the Lima mint during the reign of King Phillip V (1700-1724). Most of the coins minted in the New World were shipped back to Spain where they were melted down at various mainland Spanish mints to be converted into traditional Spanish coinage. Some of these mints were located in cities such as Seville, Madrid, Granada, and Toledo. Very few specimens from the Lima mint were known to exist until a few were recovered from shipwrecks in the 20 century, this being one of them. Here are some details on this rare coin and its unique characteristics.

The legend on the cross side reads “PHILIPPVS V D. G. ISPANIAR”, which is an abbreviation in Latin for “PHILIPPVS V DEI GRATIA HISPANIARVM”. The translation in English is “Philip V (the 5) by the grace of God of the lands of Spain”. The design elements including the Jerusalem Cross, castles, and lions are nicely centered, well struck, and only the slightest sign of being double struck when minted.

There is abundant evidence of coral encrustations in and around many of the legend letters and devices, which is to be expected from a coin recovered from a shipwreck.

The legend on the pillars side reads “ET YNDIARVM REX. The translation in English is: “And of the Indies King”. During the time this coin was minted, the New World was commonly known to the Spanish as “The Indies.”

The design elements are again nicely centered and very well struck. Of note is the fact that it is very rare to find a Lima 8 Escudos that is so well centered on both sides as most specimens are struck with the designs offset or centered on one side but not the other.

The letters and number in the center portion of the pillar side of the coin (L 8 H over P.V.A.) represent the following: “L” is for the Lima mint, 8 is for the denomination of 8 escudos, “H” is for the mint assayer “Francisco Hurtado” and “PVA” is a Latin abbreviation for “PLVS ULTRA”, which being translated into English means “Further Beyond”. Plus Ultra is the royal motto of Spain to this day. The pillars of Hercules rising from the waves with their chapiters are sharply struck, as well as the two horizon lines, date and much of the perimeter legend.

Another incredible and extremely rare feature about this coin is that the cross-side and pillars-side axes are almost perfectly aligned from front to back when the coin is turned. Typically, when gold cobs are struck, the cross side is rotated from a few degrees to ninety degrees or more.

With an abundance of original mint luster, amazing eye appeal, and the provenance of being from the 1715 Fleet shipwreck, this coin is an incredible piece of history and simply breathtaking!