MEXICO. 4 Reales, 1732-Mo. Mexico City Mint. Philip V. NGC EF Details--Obverse Scratched. KM-94; Gil-M-4-1 var.; Yonaka-M4-32; Cal-1039; Harris-unlisted; Palmer & Almanzar-unlisted; Grove-761. Variety with narrow date. Without assayers letter and denomination. A charming example of this <strong>VERY</strong> <strong>RARE</strong> type that exhibits rich attractive mottled patina and even wear. The devices are well-struck and bold moderate signs of handling consistent for the grade. Close inspection reveals several scratches in the fields from long ago accounting for the details designation, long since toned over matching the rest of the coin. Despite its shortcoming this handsome survivor is sure to be a welcome addition to the next collection it enters.<p><em>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.</em> From the Pat Johnson Collection.<p>Ex: Amon Carter Collection.
