MEXICO. 4 Reales, 1732-Mo. Philip V (1700-46). NGC VF Details--Mount Removed.KM-94; Gil-M-4-1 var.; Yonaka-M4-32; Cal-Type 177#1039; Harris-unlisted; Palmer & Almanzar-unlisted; Grove-761. Without assayers letter and denomination. VERY RARE. Gilboy states that this type which lacks the assayers initials and denomination may be considered "trial pieces struck directly from the matrix sent from Madrid". Whether this is true or not remains a mystery, but is believed to be the case by leading experts in the field. In his new book "A Variety Guide to the Fractional Pillar Coinage of Mexico City 1732-1771" by Brad Yonaka he states "It is thought that these coins were struck from dies sent directly from Spain, to serve as examples of how the coin layout should look". Mr. Yonaka has spent many years studying fractional pillar coinage, corresponding with many advanced collectors as well as respected and knowledgeable dealers and auction houses. In the four Reales alone he examined over 600 specimens and was able to discern 332 distinct dies for the entire series. He also states that he was only able to locate four examples with two different die pairs of this particular type. In any case the present type without assayers letters and denomination is very important to Mexican numismatics as it represents the very first milled coinage of not just Mexico, but the entire Spanish new world. The noted impairment of "Mount Removed" was skillfully done long ago and is now beautifully toned over to match the rest of the coin. Lovely old cabinet tone throughout displaying attractive lilac-grey in the open fields and on the tops of the devices which deepens to slate with a blue sheen and when tilted in the light a lovely red and gold iridescence pops out on the lower portion of the obverse and reverse. Well struck with good eye appeal.
