(02) The Front Page: Volume 1 Issue 1: Last Revision: 11/27/02
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News Flash- The Gold Coins of Mexico ANA 2002 Summer Seminar Series slated to run from July 6 to July 12, 2002 was cancelled due to the lack of interest! Is this a sign of the current collector interest in Mexican Gold Coins? Or is it because ANA didn’t do a good job of advertising it this year? I hope this doesn’t signal the current overall level of interest in Mexican Numismatics. Richard Long stated in his FPL#198 that this was the first time in nine years that this had happened and he is worried and questioned why it happened.
I read about the series in one of Richard Long’s earlier catalogs and went to the ANA website to resister and found it very difficult to get the data necessary to register. I wonder how many others found this problem or do not have Internet service? Being a member of ANA I find it hard to believe they can’t make this process easier to do? Enough said, what do you think about the whole thing?
The Overall Mexican Coin Market:
The Colonial Market- Colonial coins and especially Gold has been hot and we have seen some of the best material in many years on the market recently. The Colonial silver has seen some very nice coins appear including several collections and even some new Royals that haven’t been on the market in decades, if ever.
The Republic Market- Republican Gold has been very active. The 8Escudos in particular have seen some extremely good coins with the Ponterio & Associates Sale #116 having the largest group sold (191) since the Sotheby’s Geneva Gold Hoard of May 1990. Republican Silver has been well represented with major rarities in several auctions here and abroad. A major collection of silver 8Reales patterns was sold privately to a single buyer and they too seem to be extremely hot.
The Empires of Mexico- have seen numerous coins in all denominations, some nice and some rather typical.
The Modern Coins of Mexico- there have been at least two major collections sold to individual buyers plus the market for the rarer pieces continues to be strong even if the prices aren’t.
Please note that we currently report information about very few of the auctions conducted all over the world in this column, it is almost impossible to get many auction houses to send us catalogs. We can not afford to pay as much from $40 to $50 per catalog or more for many catalogs having little or no Mexican material in them. Thus we cannot report on those auctions we know nothing about. Are you listening auction houses?
There has been a rash of nice, along with some very rare Mexican Republican and Colonial coins sold during the last year or so all over the world in multi auctions including a few very special pieces on eBay of special note. Average material has taken a “back seat” in all of these auctions, while many collectors and dealers are preparing for the new millennium and have scooped up the really good material.
Individual Auction News:
Bowers & Merena (Wolfeboro, NH)- the good news from New Hampshire is that we may expect to begin seeing some good foreign material coming from this old-line house in the near future. One of the real old-time dealers who’s foreign and Mexican coin experience goes back more years than he wants to admit, has now been placed in charge of rejuvenating the auction house’s foreign coin department. Rumors are he has already secured his first major Mexican collection for public sale later this year!
Oops, as we were going to press something has happened and Tom Becker, the above-mentioned individual, has now left Bowers & Merena and is off on his own. Tom is an old hand at Mexican coins and I have emailed him to find out what is going on? More next issue?
Treasures of the World (Long Beach- 06/02)- This sale had a rather small but still nice overall group of Mexican coins from the Colonial through Modern periods with a little something for everyone. One of the better and most unusual coins was overlooked by many people I’m sure because it was incorrectly attributed as Normal Date 1846 GC/MP Round Tail Eagle 8Escudos.
CAYÓN Subastas (Madrid, Spain)-
12/13/01 Sale- too many nice coins to list individually! 50 lots of high-quality Mexican Republic Gold with something for almost everyone but the sale’s “showpiece” for Republican coinage was a heretofore unlisted 1877 Zs/S 20Pesos that was driven up by the book to well over $20,000! Rumors have it that the coin was not purchased because it did not reach reserve. Long runs of choice Spanish Colonial 1Escudos through 8Escudos from most mints were the story for the Colonists out in the collecting world. As is usual, this catalog is a must have reference book as the Cayón’s out-did-most catalogers with great photos of each lot.
04/11/02 Sale- another quality sale by Cayón, Spanish Colonial gold was well represented with over 100 lots, but alas no Republic of Mexico pieces. An almost complete date run of Ferdi’8s from 1809 to 1820 plus many other nice colonial gold pieces.
EBay- Several very interesting Mexican gold pieces appeared in the cosmic waves on the net during the last year. There were a number of average to doggy coins, but there were also a couple of real winners too. Several better Mexican gold pieces made their way to “the bay” via European and Mexican dealers, hopefully starting a new trend in the near future.
The Goldbergs, Ira & Larry (Beverly Hills, CA)- For some reason we can’t seem to make this mailing list, so we have spotty reports on the Goldbergs unless they post on the Internet.
#14 Pre-Long Beach Sale (06/02)- thank god for the Internet or I wouldn’t have known about this sale. As I’m interested in the Republic gold I pulled all of the 12 lots, so I can at least report about them. The sale started with three lots of Durango (1837, 1838 and 1839) 8Escudos, which seems unusual, then three more. Six lots of nice Republic decimals ended the gold. I don’t know anything about the other coins in this sale.
Heritage Numismatic Auctions (Dallas, TX)- again almost impossible to hit the mail list, but at least they do post on the Internet.
2002 Orlando Florida (FUN) Signature Sale (01/02)- nice Mexican group of 30 lots from minor silver to large gold pieces, including several Ex J.J. Pittman coins. The most spectacular coin in the show for my money was Lot #6439, an 1846 Ca/RG that is nearly perfect for an early Chihuahua 8Escudos that sold very cheaply. Several coins didn’t reach their reserves.
Alberto Hidalgo (Mexico City, Mexico)- this auctioneer is impossible to make his hit list, I’ve asked several people to help me to no avail and he doesn’t post on the Internet.
02/02 Mexico City Sale- I’m sorry I can’t give you a full report on this sale because I can’t get on Alberto’s mailing list for his catalogs and I didn’t have very long to look at this one and write notes about his sale. I did however get to look at the photos (which were much better than usual) for the 33 lots of Republican gold, including all denominations except the ½ Escudos and 10Pesos. Believe me there was some nice material in this sale. It is very difficult to get on his and most other foreign cataloger’s mailing list for their catalogs, it’s a shame because there are very few that are not worthwhile or don’t have coins I need and are willing to bid on! This makes it almost impossible to buy from foreign auction houses for most U.S. collectors.
Richard A. Long (Langlois, Oregon)-
Sale #90 (07/01)- Richard’s once a year sale format again provided good material for this sale, numerous quality coins for the entire Mexican market from all Periods. Not a lot of Colonial gold, but only one of the 11 lots was not above average and all were choice. In the 41 lots of Republican Gold there was something for almost every collector. A couple of highlights of the Republic gold were the Mo/GF 4Escudos, an 1841 Ca/RG 8Escudos, and a 1878 Cn/G 20Pesos. There were too many great Republican 8Reales to list, but Richard selected the fantastic ex. Norweb 1824 Durango Hookneck to use for his catalog cover shot. Also the 1st Year Cap & Rays Type Set that appeared in Sale #89 was re-offered as individual coins because the set had not reached the minimum as originally offered. There were many nice minor coins for all eras.
Sale #91 (04/02)- a very high quality sale as far as the material goes. Can we expect more than one sale from Richard this year? It looks like it might happen, because this one is so early. 14 lots of nice Colonial gold with only one minor, but limits the collectors of this period, some real show stoppers in the group though. The Republican gold is another story, all but the 2.5 Peso have some material in the sale with a total of 58 lots, most of which are choice coins. An 1857 C/CE and 1853 Go/PF highlighted the Escudos section, but the 1E 1843 Mo/MM should not be over-looked by the collectors of these tiny coins. Collectors of all types should study two of the three 4Escudos closely and the 8Escudos are highlighted by too many nice coins to list. The Decimal gold also contains some really great pieces- be sure to note lots 63 and 65 in the minors plus the entire group of four 20Pesos are all outstanding coins. As usual Long has more than enough other great coins to make your “piggy bank” squeal with delight. The only problem for most collectors will be finding enough money to buy everything they want?
Ponterio & Associates (San Diego, CA)-
Sale #116 (10/01) Long Beach, California- “Heaven” is the only word that can describe this sale for Republic 8Escudos collectors! This was the largest collection (191 coins) of Republic 8Escudos to hit the market since the Sotheby’s Geneva Gold Hoard Sale of May 1990. While there was some rather plain coins in this collection, there were also some outstanding ones. The spirited biding for Lot #178, a 1869 A/DL 8Escudo, made it the showpiece of the sale as it was hammered down for $6,500 without the juice. But many of these 8’s went for bargain prices too. As is usual, the Ponterio family had many other choice Mexican coins in this fall Long Beach Sale, but nothing like the 8Escudos.
Sale #117 (01/02) New York City, NY- this catalog was so large (265 pages) it had to spiral bound. This was the 13th Annual New York International Numismatic Convention Sale that had to be postponed after the 911 terrorist attack destroyed the World Trade Center in New York. A small (14-lot) selection of Republic gold coins, but there must have been spirited bidding because I did not win any of the coins I bid on. The Republic gold was overshadowed by 71 lots of Colonial Gold, including some very choice and rare pieces. The Crown Jewels of this sale were in Spanish Colonial section and were highlighted by a 1615 Mexican 8Reales Royal and three 8Reales Royal strikes from Peru.
Sale #118 (02/02) Long Beach, California- with over 230 lots of Mexican material this sale really had something for almost everyone. Four patterns, Colonial gold and silver, Republic gold and silver, and even proclamation medals. The only collectors left out of this sale were the “copper guys”. The Ponterio family now seems to have the pipeline to whole world’s supply of 8Reales Royals, as we see another Mexican one (Lot #292- a Philip III) and one from Bolivia Lot #576. Overall another very strong sale!
Stack’s & Coin Galleries (New York, NY)- this is one cataloger that refuses to supply us with their catalogs without purchasing them.
New York’s finest had only ho hum Mexican material in their first two sales of the year. They seemed to be trying to move out some pieces that haven’t sold in the past and still have in stock.
Superior Galleries (Beverly Hills, CA)- this is another of those hard to get catalogs, but they do post on the Internet.
Pre-Long Beach Sale (06/02)- with a total of over 160 lots of Mexican material this sale was well covered from the Carlos & Johanna to a small but nice group of the Empires of Mexico. The Pillars were well represented in both 8’s and minors. The highlights of the gold were 45 lots of Colonial gold, from 8’s to ½ Escudos. The Republican gold (13 lots) had a wonderful 1869 O/AE 8Escudo that was as nice as I’ve seen in years.
UBS AG- (Basel, Switzerland)-
Auction #53 (01/02) Basel, Switzerland- a nice group of 15 Mexican lots that was comprised of coins and medals starting with three gold cobs (two 4Es and one 8Es) and included a very nice 1813 Ferdi 8E from Guadalajara that was a showstopper. The two Republic gold lots were two rather scruffy looking 8Escudos- an 1827 Mo/JM and an 1861 O/FR.
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