8 Escudo Guatemala Gold

KM# 8 Guatemala – Central American Republic. 8 Escudos, 1824-NG-M (Nueva Guatemala). Fr-26; KM-8. 26.96 grams. Radiant sun face over row of volcanoes. Reverse: Tree on foliate ground, value on either side. Exceptional detailed strike, with only slight adjustment marks remaining. Minor faint random hairlines at centers, otherwise glittering to proof-like luster overall. Probably the finest known example of this rarity. NGC graded MS-63 Prooflike. The Central Americam Republic was centered in Guatemala. It was totally ineffectual and dissolved betwwen 1838 and 1840 after each state opted for independence. At this time, an illiterate highwayman named Rafael Carrera pledged a vendetta against the Guatemalan president of the Central American Republic, Francisco Morazon. Carrera was backed by the conservatives in Guatemala as well as the powerful Catholic Church. He succeeeded in dominating Guatemalan politics and was named president for life. He actually did a relatively good job as president given the chaotic times. Despite his humble background, he is known as the founder of modern Guatemala (El Fundador). Estimated Value $100,000 – 125,000. Ex Superior ANA Sale (August 19-23, 1975), lot 2585, where it realized a hammer price of $20,000 against a $5,000 estimate (this one of the highest prices paid for a foreign coin in that sale). Ex F.C.C. Boyd Collection, acquired by Charles Wormser & John Ford, a.k.a. New Netherlands Coin Company; thence personally consigned to the ANA Sale by Wormser; Illustrated in Money of the World, coin 166. Ex Millennia, Lot 1058. Categories: World Gold