Spain 1859a 10 centimos de real Queen Isabel II NGC MS65RB

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Item Description

This item is part of a Special Collection 

(see end of listing for more information)

1859a            10 céntimos de real

Spain

Queen Isabel II

Segovia mint

obv: Laureate Head Right - ribbon on neck

rev: Crowned Arms within Laurel Wreath

The Royal decree of 19 August 1853 replaced the 1/10 division “décima" copper coinage with 1/100 division “céntimos". The denominations of silver and gold remained the same, but copper coins were issued as 5, 10, and 25 céntimos de real. Additionally, it re-opened the mint at Jubia in an effort to dramatically increase the production of copper coin and ordered that all available obsolete copper coins (maravedís and cuartos) currently on hand in Cataluna be moved to Jubia for use in manufacturing new coins. It further required that the queen's image appear on each coin. Article 4 of the royal decree references the 1 January 1854 start date and requires approval of the queen for the coin design.

The 10 céntimos de real were of a single type issued from 1854 to 1864 and all minted at Segovia. 

This particular coin exhibits beautiful brown devices haloed by red-brown fields, almost giving the impression of a cameo appearance.

NGC MS65RB

Exceptional Eye Appeal

Among the finest known examples.

Top Pop 3/0 at NGC (none graded higher)

and Pop 0/1 at PCGS (one graded higher)

common in circulated grades, 

rare in uncirculated grades

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

Æ 20mm 12h Edge: plain

aqueduct above denomination identifies 

Segovia mint issue

O’Connor p.124 10CR-1859a

ex O’Connor Collection

If the Spanish sought to emulate the French decimal coinage in order to supplant it with true Spanish coinage, the use of 1/10ths likely came from their observation of the French decime and 1/2 franc. However, while the French had 1 centime coins prior to 1800, Spain's recent decimalization was based purely on tenths. Amounts of less than 5/100ths had to be rounded or old maravedís coins used. Some ministers were also concerned with the potential for counterfeiting of the recently implemented copper coins which had relatively simple designs. Additionally, the sheer volume of small change needed for commerce was immense.

The Royal decree of 19 August 1853 replaced the 1/10 division “décima" copper coinage with 1/100 division “céntimos". The denominations of silver and gold remained the same, but copper coins were issued as 5, 10, and 25 céntimos de real. Additionally, it re-opened the mint at Jubia in an effort to dramatically increase the production of copper coin and ordered that all available obsolete copper coins (maravedís and cuartos) currently on hand in Cataluna be moved to Jubia for use in manufacturing new coins. It further required that the queen's image appear on each coin. Article 4 of the royal decree references the 1 January 1854 start date and requires approval of the queen for the coin design.

Art 4. Entire copper coin that is struck, counting from January 1st 1854, will bear My Royal effigy on the obverse, with the coat of arms of Spain on the reverse, and accessory and legends which I reserve for My approval. 

Although an 1855 decree confirmed the real and its 1/100th divisions as the unit of account, coinage denominations below five céntimos would not appear until 1865. A desperate need for small change continued to keep décimas and maravedís in circulation.

After the discovery of large quantities of gold in California, the value of gold relative to silver on the world market dropped. As silver 20 reales still contained more silver than other European coins of similar value, the export of 20 reales to the melting pots of Europe and elsewhere accelerated. The gold coins intended to act as a store of value were being dumped on the commercial centers and government of Spain in exchange for more valuable silver even as the value of gold dropped. Spain's government responded by suspending the minting of gold coins in 1851. Despite this decree occurring early in 1851, gold coins of this date and 1852 were issued. No Spanish gold coins were issued with a date of 1853. The Royal decree of 3 February 1854 restored the issuance of gold coins and again reduced the weight of the silver 20 reales.

As of 1856 the "Laureate Head" and "Draped Laureate Bust" designs were henceforth used on silver and gold coins, respectively. These beautiful representations of the queen make the coins of 1856-1868 among the most sought after coins of her reign. The Chief Engraver, Luis Marchionni's initials "LM" appear at the base of the neck on the bust of each coin.

The coins of the 2nd Decimal period (1854-1864) include:

Copper:  5, 10, 25 céntimos de real

Silver:     1, 2, 4, 10, 20 reales

Gold:      20, 40, 100 reales

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