How much does a cracked flan and no date affect the price of a cob?

[bacon_wrangler]

Hi folks!

I've been asked to make an offer on two cobs, which has driven me out of lurker status and compelled me to register.

If I am reading the photo correctly, this is a Mexico City 4 reales, with the denomination written in that funky "modified Roman" that the Spanish used at one time. If the assayer mark is an "O," this puts the coin in the reign of Philip II. While it has some great details that made me initially think it would be worth around $185-$200, the fact that the inscriptions are basically gone and the planchet is cracked has me downgrading the retail price on this to around $125-$135.

I'd like to get a second opinion from folks "in the know," as I want to be able to get my money back, but don't want to insult or shortchange the guy in case he has more stuff later on. What would you think is a good wholesale price for this coin?

 

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[Mackaydon]

For starters, I believe I'm correct to say that none of the Felipe II 4R coins were dated; so no deduction for that.
Don......

 

[gollum]

I am also wondering what a deformed Mexican Dessert has to do with a cob's value?

Mike

 

[Mackaydon]

If, in fact, it is a 4R from the reign of Felipe II, there were at least 14 variations minted; yours is delineated by having "IIII" and "O" on the left side of the crest; and "Mo" on the right. The weight of your coin will quickly determine its denomination. It should be about 13 grams, but not 14 grams, to be a 4R cob.
Don....
PS: BTW, Welcome to Treasure Net !!

 

[bacon_wrangler]

Thanks! I met with the guy today, and offered what I thought was a fair wholesale price, but I think he wants to shop it around. We left the door open, and I hope he gets back in contact with us. I sent Heritage these photos and photos of a half-reale that was really beat up, and they said they wouldn't pay over $100 for the both of them. I used that as the retail price when discussing the coins with the seller. He also has some copper maravides, that are mostly toast. I saw three that I think could go for $3 or $4 each, from what I've researched.

You mention that the Philip II 4R has 14 varieties. Where can I find information like that? I have Sedwick's "Practical Book of Cobs," and have been using sold lots at Heritage and eBay for comparables. I'd love to build up my resources on cobs, so any pointers towards online resources or books that you can give would be greatly appreciated.

Thanks again!