Market Matters

Th e Spanish Doubloon €1.5 gold coins are being off ered by Kagin’s, with fi rst strikes graded by PCGS. Courtesy of Don Kagin.

Kagin's Off ers & PCGS Certifi es Inaugural 2021-22 Spanish Doubloon Gold Bullion Coins

By Donald H. Kagin, Ph.D.

On November 30, 2021, Kagin Enterprises of Tiburon, California, was appointed the exclusive U.S. distributor for the Spanish Royal Mint’s Spanish Doubloon — their fi rst series of gold bullion coins. Th is limited fi rst issue features the Iberian Lynx struck as a reverse proof one-ounce in 999.9-fi ne gold coin and denominated €1.5. PCGS will grade runs of the fi rst strikes, which boast some of the highest average grades of any modern proof gold coins.

Th e coin’s reverse features the famous Columnarios – the Pillars of Hercules design representing the joining of the two Old and New World hemispheres, with the two globes crowned over the sea, and the motto “PLVS VLTR A” appearing on ribbons mounted on opposite pillars.

For over 200 years the Spanish Doubloon was arguably the most recognizable gold coin in the world. In the fi eld of silver, the leadership belonged to the Spanish “Pieces of Eight” – the Spanish Dollar. Th ose millions of coins are among the most romantic and historically important of all coins, having played a prominent role in the fortunes of New World conquistadors and adventurers as well as pirates and buccaneers.

Th ey are the fi rst global coinage, and the world’s most famous design of the silver “Pieces of Eight.” Th is Pillar Dollar is considered the precursor of the American dollar sign ($).

Th e coin’s legends identify Spain’s current monarch, Felipe VI, and the coin’s weight — 31.21 grams and 999.9 gold fi neness.

Th e obverse depicts the head of an Iberian lynx, the face value of €1.5, the year of issue (2021), and the crowned symbol of the Spanish Royal Mint.

Th e total to be minted is limited to 12,000 and is priced

at the daily London spot gold price plus 10%. As of May 1, almost 10,000 had been sold.

PCGS initially graded 100 of the first 200 coins struck, which are virtually all sold out.

An additional 800 coins were struck as First Day Issues, of which only 300 were still available at the time of this writing in PR69 and PR70.

A new 2022 gold 1/10th-ounce “Baby Lynx” will be made available in July 2022. These will also be struck in reverse proof, individually encapsulated, and limited to a mintage of 50,000 worldwide. They will be denominated 15 Euro Cent, weigh 3.121 grams, and boast 999.9 gold fineness.

It is anticipated that 1,500 coins will be struck on the first day, of which the first 250 will be designated as First 1-of-250 Strikes. A quantity will be graded by PCGS.

Also, in August at the American Numismatic Association World’s Fair of Money, the Royal Mint plans to unveil a new 2022 gold one-ounce Spanish Doubloon-Toro. These will also be reverse proofs, encapsulated, and have a worldwide striking limit of 12,000. The first 200 struck will be so designated and another 800 struck as First Day of Issue. These, too, will be graded by PCGS and available only from distributors.

Custom boxes containing certificates of authenticity will be available for a slight extra cost.

“We are very excited about this program,” remarked Don Kagin, president of Kagin Enterprises. “The Spanish Mint’s products are beautiful and among the finest quality of any major mint. Besides the multi-year Spanish Doubloon animal series, we are working with the mint to strike additional series of coins later this year and in subsequent years. We are very fortunate to get modern proof and bullion distributors to share their ideas for successful future programs and to have such a willing partner who loves challenges in the personnel at Royal Mint of Spain.”

For more information contact Kagin’s Inc. at info@Kagins. com or phone 888-8K AGINS (888-852-4467) and online at Kagins.com.

Don is president of Kagin's, Inc., the nation’s oldest family-owned numismatic firm, Kagin’s Auctions, one of the nation’s oldest and wellrespected rare coin and currency auction houses, and Kagin Enterprises, the exclusive U.S. distributor for bullion coins for the Royal Mint of Spain. Don earned the nation’s first B.A. and Ph.D. in numismatics. His expertise includes Pioneer Gold coins, U.S. currency, and numismatic marketing innovation.

Th e New 2022 1/10th ounce Spanish Doubloon-Lynx are now available to preorder.

Th ese will be encapsulated reverse proofs limited to 50,000 worldwide including 1,250 FDI. Also anticipated in August will be the 2022 Gold 1 Ounce Spanish Doubloon-Bull. Quantities will be limited to 12,000 worldwide struck in reverse proof. 1st strikes (200) and First Day of Issue (800) will also be available.

— Limited Quantities are still Available of these 2021 1-Ounce Spanish Doubloon-Lynx Coins —

2021 1-Ounce Spanish Doubloon Lynx

First 200 Struck

PR69 $3250 PR70 Sold out

2021 1-Ounce Spanish Doubloon Lynx

First Day of Issue

PR69 $2750 PR70 $3600