Mexico. "Royal" 8 Reales, No Date-MO-F (Mexico City). WR-2; KM-44.1. 27.38 grams. Philip III, 1598-1621. Crowned Hapsburg shield. Reverse: Cross quartering arms of Castille and Leon, within tressure. Exceptional strike on choice metal. Perfectly centered, on very round flan. Lovely gold and russet toning. Extremely Rare.
The finest known. NGC graded AU-58. Philip III was the son of the very powerful Philip II, but he took no interest in affairs of state and left all decisions to his favorite, the Duke of Lerma (1598-1618) and then to the Duke of Uceda, Lerma's son. Philip had a reputation for extreme piety. Under the influence of Lerma, he decreed that all Moriscos (Moors who had converted to Christianity after the Christian reconquest which ended in 1492) should be expelled from Spain. This was an economic disaster, for the Moriscos were one of the few groups in Spain that did not consider work beneath them. Being in trade was not even a consideration for Spainish nobles; they were much too grand to work with their hands, and the peasants worked the nobles' lands and had no power whatsoever. The Jews had played a major role as a "middle class" in Spain, but they were expelled in 1492 by Ferdinand and Isabella. Now, in 1609, the Moriscos, who were very important to Spanish agriculture, trade, and industries, were also expelled. By practicing "ethnic cleansing," Spain hastened its own decline.
The "Royals" were struck on specially selected, round planchets with special dies - the dies not necessarily having the same designs and inscriptions as those coins of the same date and mintmark in the regular coinage. Some of the better specimens may have well been sent to Spain so that the king could see for himself what fine handiwork was being done at the various mints.
Estimated Value $30,000 - 40,000.
Illustrated in Money of the World, coin 146; Ex: Calico. Ex Millennia, Lot 1081.
World Crowns & Minors
