Worth the Wait

[coinsbygary]

My most recent acquisition is worth the wait. Especially sweet is that I could of bought a nice example of this same coin at any time during the last eight or nine months.

 

I have an interest in collecting the entire series of 1870 Spanish Provisional Government coins. The copper coins come in denominations of 1, 2, 5, and 10 Centimos. The silver coins come in denominations of 50 Centimos, 1, 2, and 5 Pesetas. There is also a gold 100 pesetas that is very rare. Needless to say I probably won't be adding that coin to my collection.

 

 

 

I have been spying out a nice MS-64 BN example of the 1 Centimo on E-Bay for quite some time. Interestingly, the seller advertised this coin as a former Heritage coin, so I looked it up. What I discovered was that the starting bid for the coin was twice the cost of the coin on Heritage. With that I placed the coin on my watch list and waited for the seller lower the starting bid.

 

 

 

The seller of the MS-64 coin kept re-listing the coin at the same starting bid for eight or nine months. Finally, last Sunday evening another seller listed a MS-65 RB example of the the 1 Centimo as a true auction and I set up a snip at 1 dollar higher than the MS-64 coin. When the hammer went down Sunday evening, I was delighted to own a nicer coin at $25 less than the starting bid of the MS-64 example.

 

 

 

As a series these coins are very difficult to find in MS condition. However, they are much easier to find in lower circulated grades. Of many millions minted, NGC only grades 27 mint-state coins in BN, RB,and RD and there are only two MS-66 RD coins that are higher graded than mine.

 

 

 

For the series I currently own this coin, the 10 Centimo in MS-64 BN, the 2 Peseta in AU-53, and the 5 Peseta in XF-40. Incidentally, I am watching a AU-55 example of the 5 Peseta on eBay in which the seller wants more than $700.00. Needless to say I'll keep my XF-40 piece, thank-you very much!

 

Gary

 

See more journals by gherrmann44

[wdrob]

 

I like the way that went down for you. $25.00 cheaper than that MS64 ... (thumbs u

 

Nice pickup.

 

 

[sparky1x-migration]

I really don't know anything about foreign coins but it is a real great looker for being 144 years old. Great looking picture also!

[jgenn]

Hi Gary,

 

What's the appeal for you with this series? I gather it's challenging because it's a limited run -- Spain had deposed their Queen, Isabella II, in 1868 and struggled to find an acceptable monarch as a replacement. Of course, this particular coin has an attractive design and features a seated image.

 

~jack

[coinsbygary]

Hi Gary,

 

What's the appeal for you with this series? I gather it's challenging because it's a limited run -- Spain had deposed their Queen, Isabella II, in 1868 and struggled to find an acceptable monarch as a replacement. Of course, this particular coin has an attractive design and features a seated image.

 

~jack

 

Hi Jack

 

All the things you said about Queen Isabella II and the struggle not only to find an acceptable monarch but to retain order are true. Interestingly, the provisional government of Spain led to the first republic after the brief reign of Italian, Amadeo I.

 

I also think the number of rival political factions in Spain that brought about the so-called Glorious Revolution also led to the failure of the first republic and a return of the throne of Isabella's son, Alfonso. With Alfonso on the throne a certain degree of order and stability returned to Spain.

 

There are two main reasons these coins and the coins of Spain's second republic interest me. The first is the allegorical use of Hispania on the coin to represent the people of Spain rather than a monarch. The same motivation for these coins was used for our coinage at the start of our fledgling republic. That is that our founders did not want a representation of any living or actual person on our coins but an allegorical representation of the people or in our case the national value of "Liberty". Interesting to me is the use of Hispania on ancient Roman coins and Spain's close association with the Roman Empire.

 

Next, I am amazed by the simplicity of these coins in a time of national crisis in Spain. The copper one Centimo weighs 1 gram. The two Centimo 2 grams, the five Centimo 5 grams, and the ten Centimo 10 grams. The silver coins also have a weight structure similar to that of the copper issues. In a time of uncertainty the Spanish people didn't have to worry about instability in their coinage.

 

Finally, millions of these coins were minted and are readily available. However, almost all those coins circulated creating conditional rarities for surviving coins in mint-state condition.

 

What started as a seated attraction has turned into a fascination for me. Sometimes as I research the coins I own, I get much more than I bargained for. Jack, I think you can identify with that since I see the same thing in your writings.

Gary

 

 

[hunter's gold]

Wow, another beautiful coin. Nice addition Gary

[jgenn]

Sometimes as I research the coins I own, I get much more than I bargained for

 

So true! Thanks for your thoughtful response. ~jack

[brg5658]

Gary, fantastic coin, and a great country and era of coins to collect as type coins. I know I've been rather sparse on the journals side of these boards lately, but know I still read everything you write! I wouldn't care miss a word. Congrats! (thumbs u

 

-Brandon