Description: 1836 Peru Cuzco 4 reales graded NGC AU50. Coin is full of luster in the fields and looks great for this type which is usually holed or damaged and rarely found above the VF level. In fact, just a single example was ever graded Mint State by NGC. The Cuzco mint began producing debased silver coins, with a purity of .666 silver (moneda feble) instead of .900, in response to the debased 4 soles that Bolivia was pumping out at the time. However, while this coin was produced in such large quantities that it ranks among the most common early Republican issues in lower grades, very few examples survived in higher grades. This was caused by a combination of factors. First off, debased silver coins wear much more rapidly than purer silver coins. Also, in a demonstration of Gresham's Law that bad money drives out good, people would hoard 90% silver coins while spending their inferior moneda feble at face value. This caused these 4 reales, which were already prone to wear, to be circulated excessively: nobody wanted to be the one left holding the hot potato (moneda feble) so it was quickly spent. Years later, most of these coins were melted and turned into proper weight coins after moneda feble was demonetized. * free shipping in the USA *
Price: 349 USD
Location: Staten Island, New York
End Time: 2024-02-17T17:50:40.000Z
Shipping Cost: 0 USD
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Item Specifics
Restocking Fee: No
Return shipping will be paid by: Seller
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Denomination: 4 Reales
Country/Region of Manufacture: Peru
Certification: NGC
Grade: AU 50
Year: 1836
Circulated/Uncirculated: Circulated
Composition: Silver
