Charles & Johanna "Early Series" 3 Reales ND (1536-1542) R-·M·/·M· VF Details (Holed, Tooled) NGC, Mexico City mint, KM0013.2, Cal-103, Nesmith-5 (this coin). 35mm. 10.01gm. By Francesco del Rincón. 3 Dots/Waves variety. An extremely rare variety of this beloved and short-lived denomination, designed with a clear portrayal of waves beneath the crowned pillars and a three-dot denomination. This design element, only incorporated into this first 3 reales issue in"Early Series", would later return to become a vital design component in all "Late Series" issues that were adopted some 6 years later. One of only three with-waves 3 reales traced, with each having been produced from easily differentiated dies and thus technically all unique. Of those, this example is the most famous, having been owned by Carlos Elizondo, Sr. in 1972 and later sold in the Paul Karon Collection in 1992; it also served as the plate coin in Robert Nesmith's accomplished study on the series. Compared to other 3 reales that were struck later, this piece is especially broad and boldly struck, which highlights the full usage of Gothic lettering in the legends, a characteristic which was slowly replaced by Latin font. Unlike most, this coin is not a sea-salvaged, each side exhibiting silvery-gray centers and light golden peripheries. A hole exists along the dotted border just to the left of the pillars, and various instances of past tooling blend into the centers. A specialist's dream coin nonetheless, this coin pairs seldom-matched charm with undeniable historical importance. Ex. Paul Karon Collection (Superior December 1992, Lot 138); Carlos Elizondo, Sr. Collection; Francesco J. Angert Collection

HID09801242017

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