1770-LM JM Peru Gold 8 Escudos NGC AU55

NGC certified and graded AU55. Bust of Charles III facing right. This is a nice, lightly circulated example that should make a nice addition to any collection. Current NGC pop shows 2 with just 1 graded higher.

• Struck in .917 fine gold
• Weighs 27.0674 grams
• AGW of 0.7980 troy ounces

King Charles III of Spain

Charles III was King of Spain from 1759-1788. He was born on January 20, 1716 at the Real Alcázar of Madrid to Elisabeth Farnese and King Philip V of Spain. Charles III succeeded to the throne on August 10, 1759, following the death of his half brother, Ferdinand VI, who left no heirs.

As King of Spain, Charles III was known as a proponent of enlightened absolutism. He made far-reaching reforms such as promoting science and university research, facilitating trade and commerce, and modernizing agriculture. He avoided costly, deadly wars, and also tried to reduce the influence of the Church. His previous experience as King of Naples and Sicily proved valuable. He did not achieve complete control over Spain’s finances, and was sometimes obliged to borrow to meet expenses, but most of his reforms proved to be successful and his legacy lives on to this day.

This particular coin, the 1770-LM JM Peru Gold 8 Escudos NGC AU55, features a bust of Charles III facing right.

Charles III died in his Palace on December 14, 1788. He was buried at the Pantheon of the Kings which is located at the Royal Monastery of El Escorial.

1770-LM JM Peru Gold 8 Escudos NGC AU55

One note about this coin –  the mint mark is represented by a dot above the L of LM on the reverse. In the Krause Catalog, the coin is currently listed for $4400 in VF and for $6400 in XF.

With it’s incredible link to history, and just shy of being 250 years old, this gold 8 escudos from Spanish-ruled Peru, will make a wonderful addition to any collection! Please see the pictures for details!