Bust of Carlos IV. The first of the famous and elusive Popayán portrait 8 Reales. Superb light silver surfaces show hints of luster and some subtle golden toning. The eye appeal and overall quality are choice for the grade, with the only notable flaw a tiny rim nick below the 8 of the date. The planchet is a bit short at 12:00, as made, otherwise the strike and centering are outstanding. As rare as this coin is, two decent ones have sold within recent memory. The Calbeto plate coin sold in the 2008 Millennia sale for $17,250, graded EF-45 (NGC). If it is not the unquestioned finest known, it is a strong contender. The VF-35 (NGC) example sold in Heritages January 2016 sale was likewise very nice, bringing $12,650. A circulated example with "harshly cleaned surfaces" sold in the December 1991 Superior sale, at which time this date was described as "less than 5 known." The true number is at least a bit higher, but this remains a significant and important rarity as the first portrait 8 Reales of Colombia. From the Eldorado Collection of Colombian and Ecuadorian Coins.
