Lot 1062
Guatemala - Republic. 16 Pesos, 1863-R. Fr-31; KM-183. 26.95 grams. Head of Rafael Carrera right. Reverse: Arms wreathed by sugar cane, sun above. The centers showing only the trifling weakness. Slight planchet flaw and die break on reverse. Very lustrous, almost prooflike. Extremely Rare, more so in this grade. NGC graded AU-55.
The 16 Peso apparently was a not too popular issue, it being struck only from 1863-1869. It was instituted as a substitute for the venerable Spanish 8 Escudos. Except for the last year of issue, its mintages only seemed to have numbered in the hundreds, rather than thousands. At 3,465 pieces struck, 1869 was the denomination's most prolific year. This same year a 20 Peso version was begun, with a minting of 16,000 coins. With so much foreign currency serving as day-to-day coinage in the country, authorities saw it as necessary to align its largest gold coin along the U.S. twenty dollar gold standard, against which other countries, such as Mexico and Peru, had already done so in the name of commercial and economic compatibility.
Estimated Value $15,000 - 17,500.
Ex Casterline Collection, Superior 5/89, lot 8089. Another few specimens of this date were found in a box that was exposed in its hiding place by the large Guatemala earthquake of 1977.
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| Realized $24,150 |
