^Lot 579 MEXICO, Mexico City, 3 reales, Charles-Joanna, "Early Series," assayer Gothic R (Rincón) at bottom b

MEXICO, Mexico City, 3 reales, Charles-Joanna, "Early Series," assayer Gothic R (Rincón) at bottom between pillars, no waves, three-dots denomination, crown outside beads, very rare, PCGS XF45, finest and only example in PCGS census. Nesmith-unl; Cal-112; S-M1; KM-13. 10.06 grams. Struck only from April of 1536 to early 1538 at the latest (and only under assayer Rincón), the 3 reales was deemed too close in size and value to the 2 reales, but ironically most specimens are broader in denomination than the 4 reales that replaced them, so these coins are rare and special. Despite some rotated doubling, this choice example shows full legends—note the almost all-Gothic lettering with the exception of the final M on the pillars side, which stands out among all the other Gothic letters—and full interior elements, the Gothic R assayer a bit indistinct but the three-dots denomination and PLVSVLT in rounded banner reasonably clear. Also worth noting is the rare legend ending on the shield side as Gothic DE, which many interpret as the beginning of DEI GRATIA. This coin is also attractively toned and particularly rare as straight-graded, in fact the finest graded by either PCGS or NGC for the three-dots variety. Pedigreed to the Ponterio auction of July 1999, lot 898.
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