A few months ago we caught wind of a special group of coins that were called the Cerro Rico (Rich Mountain) Hoard. It contained nearly 1,400 silver 8 reales minted in Potosi, Bolivia from the early to mid-1700s. As you can see in the NGC population report below, they are incredibly rare in any condition, particularly those dating prior to 1750. Even before these were discovered only a handful were know of each date.
The coins from the Cerro Rico Hoard are authentic Bolivian Silver 8 Reales, (also known as a “piece of eight”), the largest silver coin made for commerce in the New World - each struck by hand on a large piece of 91.7% silver. Due to the way they are manufactured, every cob has a unique shape and appearance.
The front depicts the Pillars of Hercules, which represent the Straits of Gibraltar, the mythological gateway to the New World. The reverse shows the Cross of Jerusalem — which depicts the castle of Castile and the lion of Leon — and the Spanish royal coat of arms.
Over time they were extensively circulated throughout The Americas and eventually the fledgling United States until the U.S. Mint got up and running in the 1790s. As a result, most of them were eventually melted down to make new sovereign coinage, making pre-1750 Bolivian Cobs especially very difficult to find today.
Now, here is where it gets really interesting....Most of the coins from the Cerro Rico Hoard are dated after 1750 and all have been certified by NGC with a special Recovery Effect notation in grades of extremely fine and higher. "Recovery Effect" implies that the coins were expertly curated to remove the years of encrustation, toning and possible environmental damage, adding to their beauty and overall appearance. Otherwise, they all would be extremely dark and heavily toned.
Austin Rare Coins is thrilled to be able to offer our clients what we believe to be the BEST coins from the Cerro Rico Hoard--coins dated prior to 1740 and in the highest grades of About Uncirculated... and even a few in mint condition!
Check out the images below to get an idea of the dates available and the unique strikes and appearance of each coin. Because our supplies of these early issues are so limited (we only have one of most dates) we are NOT offering them online but strictly first come, first served. Call 1 800 928 6468 to speak to your account representative and secure your coins before the FINEST coins from the Cerro Rico Hoard are gone.
We will be offering coins in about uncirculated condition for just $985 each and mint state coins are only $1,285 per coin. As always, thank you for your business and happy holidays to you and your family from all of us here in Austin.
P.S. Be sure to ask about our beautiful wooden display cases if you're thinking of giving this as a gift.
