Lot 947
Bolivia - Republic. 8 Escudos, 1837 -LM (Potosi). Fr-21; KM-99; LC-783. 27.07 grams. Bust of Bolivar to right, in military atttire. Reverse: Radiant sun above Cerro de Potosi, alpaca, wheat sheaf, and row of stars below. The centers an unusually bold strike. Brilliant and prooflike. NGC graded MS-61.
Cerro de Potosi, the world's richest native silver mine, was discovered in Potosi, in present-day Bolivia, in 1544 by a man chasing a goat up the side of the mountain. The native Quechuan Indians called the mine "Potojchi," which means "fountain of silver." The wealth from this mine underwrote the Spanish economy and the extravagance of its monarchs for over two centuries, including the building of the Spanish Armada, which was supposed to defeat Elizabeth I of England in 1588, but was destroyed by a combination of her leaner, quicker fleet and the weather. The appearance of a silver mine on the gold 8 escudos, the largest coin of the realm, shows that importance of Cerro de Potosi continued as a cultural and economic icon of Bolivia.
Estimated Value $2,000 - 2,500.
|
| |
| Realized $3,680 |
