An 8 escudos, Santiago, 1751 J, from the Nuestra Senora de la Luz

Back in the early nineties a fairly large number of Spanish colonial cobs and 8 escudos entered the market. These coins came from the wreckage of the Nuestra Senora de la Luz (Our LADY of Light), lost in a storm with all hands while in Montevideo in 1752.

The silver cobs were primarily from Potosi, Bolivia. The 8 escudos running from 1749 to 1751 included both cobs from Lima, Peru and milled 8 escudos from Santiago Chile. The Chilean 8 escudos, prior to the discovery and recovery in 1992, were very rare. With the entry of the Luz coins, the prices for these coins did drop significantly, affording collectors to obtain them at more affordable prices.

This particular coin, a 1751 J Santiago 8 escudos, was purchased from Pat Johnson, Houston, Texas in May 1993 for $1,975. One common feature of these coins is a tendency for the centers to be softly struck. Finding a well struck example back then was something of a challenge to buy without paying an undue premium. Generally, these coins emerged from the watery grave of the Luz in high grade, but more often than not some signs of salvage, such as marks and scrapes. This coin is no exception, with minor scratches on the reverse, but with decent centers detail-wise.

KM 3




From the Luz, a coin that I've posted before, also purchased from Pat Johnson around the same time, is an 8 escudos cob of Lima, 1750 R.

KM 47



So, hop on board and post your cobs and other Latin American coins!

 

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Wow those are sweet. Especially the 2nd 1

 

Beautiful gold. I too like the 2nd best. Still, both are great.

 

Super coins. I have from the Luz too....

 

That's a choice coin. When did you acquire it?

 

https://www.cointalk.com/threads/th...-nuestra-senora-de-la-luz.51073/#post-3475427

 

Thank you for the link. Nice coin!

 

Here's one more gold cob that I photographed today. It is not from the Luz.

By the 1730s the Lima Mint was producing very round 8 escudos cobs on quite narrow flans. The result are thick "dumpy" coins with little, if any legend.

This particular example is fairly well centered, especially on the the obverse, which is good, since an off center strike would eliminate part of the date and possibly parts of the mint mark and assayer. As it is the 7 is somewhat weak, but legible.

Lima, 8 escudos, 1738 N, Philip V (second reign).

KM 38.2



Note: the coin is actually a butter yellow, but apparently photographing it on a black background in natural filtered light causes the color to change. I think from now on I will use a white background. I've owned this digital SLR camera for two years now, and I am still on the learning curve (a very long curve).

 

Thank you, Robin.
Numismatically, another thing which is interesting about this find is that coins which were very scarce if not rare before before 1990, specifically Santiago mint 8 Escudos 1750 and 1751 as well as the 4 Escudos became instantly much more available to collectors. @robinjojo makes this point as well.
The collector market has long since absorbed this many coins and interest in "Luz" provenance is quite high.

 

Gorgeous cobs. Congratulations.

(No Cobbs here to share as all I have are four 1/2 reales and a single 1 reale I detected at a local construction site.)

My understanding is that using a background with "grey scale" is best for imaging, to bring out more natural colors. Photography sites will have them I believe.

 

One of my first ever "classical "coins. Upto to then, I was into FM/ Proof sets/ coins. I got in 1n 1991 thru Stack's Auctions. They described it as Choice BU/ ex: Luz wreck. I forget now, what I paid for it That year, I also got a MS-64 OGH France/ AV 100 Francs 1862-BB for $455.00!
John

 

A wonderful little time capsule!

 

I think this is my only cob: Guatemala 8 Reales 1739
(Holed, later turned into a key fob by someone.)


Any my only shipwreck coin: Sweden Copper Plate 4 Daler 1756 (1.93 kg)

 

That's a gorgeous coin - wonderful surfaces and color!

These 8 escudos of Ferdinand VI were super rare and expensive prior to the Luz. The market has absorbed those coins a long time ago so prices should be moving up again.