 Republic. 10 Bolivianos Monetary Medal, 1867. 28mm, 15.1 grams. Presidential Entry into Potosí. Bearded head of Mariano Melgarejo l., legend ENTRADA DE S.E. EL PRESIDENTE. GRAL. MELGAREJO. Rv. Hill of Potosí with presidential coach and marching military escort, visit of Dec. 20, 1867. Burnett 107. Burnett, Paul Bosco and Smithsonian Curator Richard Doty have catalogued the many once-mysterious Bolivian Gold and Silver pieces of this stormy era that obviously circulated freely as coins, dubbing them ''Monetary Medals.'' These issues are descended from the Proclamation pieces of the Spanish monarchs and are now enthusiastically sought by advanced collectors of Latin American coins.
Melgarejo was one of the most squalid dictators of this troubled era, who seized power from Jose Maria de Acha in 1864 and ushered in a regime of personal immorality, brutality and excess more reminiscent of Nero's Rome than 19th century Latin America. Among his more bizarre acts was displaying his mistress at cabinet meetings clad only in a smile, and his savagery toward his opponents was thought excessive even for this dark period. He was finally overthrown and murdered in Lima, Peru. Melgarejo was also portrayed on a little-known 58mm U.S. Mint Medal (Julian PE-22) designed by Anthony C. Paquet, a rarity whose actual existence was uncertain until the Virgil M. Brand example was catalogued by David T. Alexander in the Bowers Sussex Collection Sale of June 1990.
The present glittering, prooflike specimen is one of perhaps six known in Gold. Researchers George Lill and William Kable have identified it with the weight standard proposed for the 10 Bolivianos piece planned as part of the later decimal coinage. The only two positively known to exist are the present piece (from the famous Waldo C. Newcomer Collection) and a lesser condition example in Superior's December 1991 sale, which sold for $5,775. This magnificent example may well qualify as the finest known. Brilliant Uncirculated and virtually in the Choice category. (Est. $7,500-$10,000)
Ex Louis E. Eliasberg Collection (American Numismatic Rarities, April 2005, lot 1100); previously in the J.C. Morgenthau (Wayte Raymond) sale of the Waldo C. Newcomer Collection (February 1935, lot 47); John H. Clapp Collection.
| |
|
