Did you know Stack’s Bowers
Galleries set a world record with the sale of the Eldorado Collection at our
official auction of the New York International Numismatic Convention? The most
avidly awaited coin in the Eldorado Collection had been off the market since
1982, when it was acquired in Stack’s sale of the Mortimer Hammel Collection.
The 1844 Ecuador 8 Escudos with bust of Simon Bolivar facing right is thought
to be unique. Called “the King of the Onzas” in the catalog, it is
the rarest type of 8 Escudos, the large gold coin struck in Spanish dominions
throughout the colonial period and into the mid 19th century. Estimated at an
aggressive $75,000 – $150,000, the coin surpassed all expectations, selling for
$456,000. This sum set several new world records, including the highest price
ever for a coin of the Hispanic World sold in an American auction, highest
price ever for a coin from a former Spanish colony, highest price ever for a
coin of Ecuador, and highest price ever for an 8 Escudos of the Latin American
republics.
