Peru. 8 Escudos, 1791-IJ (Lima). Fr-36; KM-92. Charles IV. Bust of the previous King, Carlos III. Reverse; Hapsburg arms within chain of the Order of the Golden Fleece. Three year transitional type. Reflective fields with original mint luster. PCGS graded MS-61.
This coin has been graded highest by PCGS and can be seen pictured in the PCGS coinfacts page as the top of the population census: https://www.pcgs.com/valueview/peru/1791-l-ij-8-esc-calico-1590/2586?sn=551054&h=pop
Rare in Mint State. Spanish sovereign Carlos (CAROLUS) III died in December of 1788. News of his death reached the New World and Lima Peru in 1789. That year, coin dies were re-engraved to change the named monarch on coins to his son and successor Carlos IV, but re-engraved dies with the image of the new monarch were not available. As a result, Carlos III’s image remained in New World coinage until 1792. In 1791 in Lima, transitional coinage was issued with the name of the new monarch written as CAROLUS IIII and CAROLUS IV with the image of his father. Both are rare in Mint State. This example has the CAROLUS IV inscription, which is slightly rarer of the two types, according to PCGS records.
