Important British and World Coins

New Lanark, a Mexico, Charles IIII, 8 Reales, 1802ft, Mexico City, obv. countermarked payable at lanark mills around 5/, 25.76g/12h (Manville 69, and p.148, this coin listed; D 83; Seaby ST 66). Coin mediocre, countermark fine (£400-450)

Provenance:
Glendining Auction, 10 February 1982, lot 134
with P.C. Deane
Edinburgh Coin Shop Auction, July 1982
A.T. Macmillan Collection.

In the Manville catalogue the entries for items c and d may be combined as they refer to this same coin.

The Lanark Mills was founded out of a partnership established in 1783 by David Dale (1739-1806), the Glasgow industrialist and financier, and Sir Richard Arkwright (1732-92), the mechanical inventor. The original mill opened in 1785 but burnt down three years later; subsequently rebuilt and with a second mill in full operation, the profitable operation of the business was thwarted by the Napoleonic wars and Dale sold out in 1799 to his son-in-law, the social reformer Robert Owen (1771-1858). Disagreement with his partners over his style of management and the social objectives he set resulted in the sale of the business by auction in December 1813, when Owen’s new Quaker-funded partnership, Robert Owen & Co, bought everything back for £114,100. Owen left the company in 1827 after further disagreements with his backers