Lot 1114
Mexico. 8 Reales, 1822-Mo-JM (Mexico City). Buttrey-2B; Eliz-164; KM-306.2 (type I). 27.01 grams. Empire of Iturbide Large head, "AUGUST" type; value at upper edge. Bare head of General Augustine Iturbide right. Reverse: Crowned eagle atop cactus, value at 10 o'clock. Superior strike, the devices softly lustrous on reflective fields. Handling marks generally small, and thinly dispersed. NGC graded MS-61.
Augustin Iturbide was a man of his times, with certian beliefs and biases which led to his undoing. Originally a soldier of Spain, he fought first against the rebels, but later joined their cause. A man of principles, he believed in the righteousness of the revoulution, but he also tried to deal with the Spaniards with honor. He promised the departing Spaniards equal value in gold for their landholdings. This "honorable" settlement essentially bankrupted the new independent Mexico.
Estimated Value $4,000 - 5,000.
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| Realized $7,188 |
