A Rare 1714 Mexican Gold Coin Could Fetch US$400,000 at Auction

A very rare 1714 Mexican gold coin, known as the Presentation 8 Escudos, could sell for between US$200,000 and US$400,000 at a live auction on Aug. 6 in Las Vegas. The coin was believed to be minted for Spanish dignitaries, most likely for the king, as a symbol of Spain’s success in expanding into the New World, according to Stack’s Bowers Galleries, a leading numismatic auction house that is handling the sale. This coin and others like it were aboard a fleet of galleons headed from the New World to Spain in 1715. The ships all sunk in a hurricane when they neared what is today known as the Florida Keys, according to the auction house.