Spain 1848M medio real Queen Isabel II NGC MS63BN - Plain Ring (no wreath) Type

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Item Description

This item is part of a Special Collection 

(see end of listing for more information)

1848M                      medio real

Spain

Queen Isabel II

Madrid mint

Plain Ring Reverse (No Wreath) Type

obv: Crowned Ornate Arms

rev: Denomination within ring, mint mark below 

The first decimal period is defined primarily by the copper coinage denominations based on décima de real (tenths of a real). This is the 5 décima de real, most commonly referred to as medio real (half real). There were four types of the medio real (1848-1853). They are distinguished by what appears in the area above the denomination on reverse: starburst, plain, small wreath, or large wreath. The first three of these varieties were essentially tests, though a number of plain and small wreath types did enter circulation. The large wreath type was ultimately settled on for production in 1850 and was produced each year until 1853. This example is of the plain variety and the M mint mark above the date identifies it as being struck at the Madrid mint. Eye appealing uncirculated examples are quite scarce.

This particular coin is an attractive uncirculated example with pleasing brown accented by hints of red luster in the protected areas.

NGC MS63BN

Exceptional Eye Appeal

Among the finest known examples.

Pop 3/2 at NGC (two graded higher)

and Pop 0/0 at PCGS (none graded)

scarce in circulated grades, 

very rare in uncirculated grades

(based on Rarity estimates in The Coins of Queen Isabel II)

AE 19g 31mm 12h Edge: Plain

M above date identifies Madrid mint issue

O’Connor p.110 MR-1848M

ex O’Connor Collection

During this period, Spain was in the process of adopting the metric system for weights and measures. It was hoped that such a system would facilitate trade and contribute to overall economic prosperity in Spain. The transition to decimal coinage was intended to reduce complexity of everyday commerce and similarly contribute to Spain's prosperity. 

Perhaps the most influential factor in transitioning to a decimal coinage was the fact that many of the coins in use in Spain at this time were French francs which were already a decimal coinage. Spain's new system appears to have been not so much an abrupt departure from eons of Spanish tradition as it was a simple adoption of the current method of exchange into a Spanish form. The people of Spain logically desired, and their economy desperately needed, a coinage system to mimic and combat the dominance of French coinage. 

The royal decree of 15 April 1848 introduced Spain's first decimal coinage. Under this system reales de vellón were the sole unit of account. Gold coins would be issued in a 100 reales denomination while silver coins continued largely as before except for modifications to their weight and purity in an attempt to combat their export. The maravedís were abandoned and décimas de real (tenths of a real) introduced as the copper coinage. The designs of all coins were revised to reflect the change in the coinage system.

Also, beginning in 1850 the assayers’ initials were no longer placed on coins and mint of manufacture would henceforth be indicated on silver and gold coins by stars which appeared at either side of the denomination. Coins minted at Madrid displayed a six pointed star, Seville a seven pointed star, and Barcelona an eight pointed star. Copper coins continued to use the old style mintmarks until the 3rd Decimal period when they also began to employ stars.

The coins of the 1st Decimal period (1848-1853) include:

Copper:  1/2, 1, 2, and 5 décimas de real - Referred to as medio décima, décima, doble décima, and medio real respectively.

Silver:     1, 2, 4, 10, 20 reales

Gold:      100 reales

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