Owner Comments:
Colombia 1822P-O 2 Reales - Crude Strike; Ferdinand VII (1808-1833). Pasto Mint (Ecuador) - Medal Rotation.
Restrepo 115.1. VF-25 (PCGS). The sole example graded at PCGS as "Crude Strike". One finer graded at NGC as AU50, with none other graded. However, NGC did not designate the variety of "Normal Strike" vs. "Crude Strike". PCGS has graded 3 Normal Strike pieces as VG10/VF20/VF35. PCGS has also graded two without designation, G6, G8. The G6 is pictured and is the "Normal Strike" variety. The G8 does not have a photo.
After further research I discovered that there are 7 other examples at NGC listed under Ecuador graded as: 1/Poor, 1/Good, 3/VG, 1/Fine, 1/XF45-(Normal Strike per photos from Heritage sale January 14, 2015 and mistakenly listed as Restrepo 115.1, when it is clearly 115.2) (with no designation as to strike type noted at NGC for any of them). It appears that PCGS has not labeled any under Ecuador.
Also under Ecuador: NGC Fine Details "Cleaned" (strike type not noted), and NGC VF Details "Plugged" (strike type not noted).
Although struck in Ecuador, these coins were intended for Colombia, so I think it would be best to continue labeling them as Colombia.
But since Krause moved them to the Ecuador section (see below), I assume that is why NGC changed how they label them now.
***New Sale as of 5/8/2021 for the NGC AU50, Pedigreed to the Esmeralda Collection at the Sedwick Auction (NGC #3355393-017), sold for an impressive $5700 (including buyer's fee).*** And this was the "Crude Strike type. A highly graded coin with mushy details in a variety of areas, but die striking lines obvious in the NGC photos. (They really need to improve their photos).
So, it seems that the "Crude Strike is rarer than the "Normal Strike", but both are considerably rare.
Provenance: From the Eldorado Collection of Colombian and Ecuadorian Coins sold by Stacks-Bowers January 12-13, 2018; Lot 12084
LOT DESCRIPTION:
"COLOMBIA. 1822-O 2 Reales. Pasto mint. Ferdinand VII (1808-1833). Restrepo 115.1. VF-25 (PCGS).
Bust of Carlos IV. "Crude strike," two pellets after date. Lovely medium gray with a well centered strike and excellent eye appeal for this crude Royalist issue. The obverse is ideally centered and as fully struck as these ever are, with a raised rim around much of the right side. The reverse is soft at the center, opposite the highest relief of the portrait, as well as at the denomination. Aside from a natural lamination near the king's hair ribbon, there are no problems to note. Just a very nice example of the variety with two pellets after the date, called the "crude strike" by Restrepo, though the critique was more of the die's layout than the coin's actual striking. This is the final 2 Reales to be coined with a portrait of the king and the only one throughout Latin America to be struck with a reference to the Spanish Constitution decreed under Ferdinand VII. These 1822-O 2 Reales were coined at Pasto, in Ecuador, using equipment evacuated from Popayán when the city fell to Bolívar. Fascinating and historic."
Bust of Carlos IV. "Crude strike," two pellets after date. Lovely medium gray with a well centered strike and excellent eye appeal for this crude Royalist issue. The obverse is ideally centered and as fully struck as these ever are, with a raised rim around much of the right side. The reverse is soft at the center, opposite the highest relief of the portrait, as well as at the denomination. Aside from a natural lamination near the king's hair ribbon, there are no problems to note. Just a very nice example of the variety with two pellets after the date, called the "crude strike" by Restrepo, though the critique was more of the die's layout than the coin's actual striking. This is the final 2 Reales to be coined with a portrait of the king and the only one throughout Latin America to be struck with a reference to the Spanish Constitution decreed under Ferdinand VII. These 1822-O 2 Reales were coined at Pasto, in Ecuador, using equipment evacuated from Popayán when the city fell to Bolívar. Fascinating and historic.
Popayán, silver 0.896, 6.4-6.8 grams, 27 mm
This is the only Spanish American coin with a reference to the constitution imposed on Ferdinand VII in 1820.
According to Carlos Ortuno, this coin was struck in Ecuador by the few remaining royalists that fled from Popayán with minimal equipment, which would explain the low quality of most of these coins. This is also the only Colombian coin with the assayer "O" for Vicente Olave.
Formerly found in Krause: KM# 74. 2 Reales. Note: The P mint mark on this coin has been traditionally attributed to Popayan, but arguments are currently being put forth that the P may stand for Pasto, making this the first coin of Ecuador. In 1820, Pasto was simply a city in the newly-organized Gran Colombia or United Provinces of Nueva Granada. In was not until 1830 that Ecuador withdrew from Bolivar's visionary unified government for all of northern-most South America.
Now found in Krause under Ecuador Colonial Coinage as KM A1 which states: The P mint mark on this coin has been traditionally attributed to Popayan, Colombia as KM #74, but recently recognized information supports the belief this P stands for Pasto (Mint), making this the first coin of Ecuador. During the War of Independence, minting equipment and machinery was transported by Royalists from Popayán, Colombia to Pasto, Ecuador and used to strike this coin. The minting equipment, which was on its way to Quito, was diverted to Pasto as a safer and quicker alternative. This type is both the first coin struck in Ecuador and the only colonial type from this country. It is also the only regular issue coins of Spain's New World empire to mention the homeland's Constitution.
Prices in Krause are sorely out of date.