Bolivia (1576-77)-P M 8 reales
This specimen was lot 44002 in Stack's Bowers ANA sale (Chicago, August 2024), where it sold for $4,560. The catalog description[1] noted, "BOLIVIA. Cob 8 Reales, ND (1576-77)-P M. Potosi Mint. Philip II. PCGS Genuine--Corrosion Removed, VF Details. Featuring a bold, well-centered strike, this is a particularly engaging example of from the RARE assayer "M". The full shield and cross display proudly, with just a hint of die shift seen on the latter. The clear mintmark, assayer, and denomination are matched with complete outer legends. A rustic gunmetal finish and moderately rough texture on the reverse are attributed to the coin's sea-salvaged past. A marvelous piece to study due to its clarity and completeness. Though not accompanied by a certificate, the coin's illustration in Christie's 1988 Atocha Research Collection catalog serves as a solid link to that famed shipwreck. From the S.P. Rutherford Collection. Ex: Sedwick 28 (11/2020) Lot # 561. Ex: Atocha Research Collection (pl. 3, #18; no certificate)." The mountains around Potosi contained enormous amounts of high grade silver ore, a situation the Spanish were not slow to exploit. A mint was set up in the 1570's to process the silver mined there. The early products of the reign of Philip II are fairly good quality but rot set in during the following reign, including fraudulent debasement. The Potosí mint was the second mint in the western hemisphere to date its products. Dating began in 1617.
Recorded mintage: unknown.
Specification: 27.07 g, 0.931 fine silver, this specimen 25.76 g.
Catalog reference: Cayón-3936, KM-5.1; Cal-668; Paoletti-50 (same obverse die).
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, 2 volumes, Madrid: Cayón-Jano S.L., 2005.
- Calicó, Xavier, Numismática Española: Catálogo General con Precios de Todas las Monedas Españolas Acuñadas desde Los Reyes Católicos Hasta Felipe VI, 1474 a 2020, Barcelona: Aureo & Calicó, 2019.
- Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.
- Menzel, Sewall, Cobs, Pieces of Eight and Treasure Coins, New York: The American Numismatic Society, 2004.
- Paoletti, Emilio, 8 Reales Cobs of Potosí, 2nd Ed., Buenos Aires, 2006.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, August 2024 Global Showcase Auction, World & Ancient Coins, featuring The Emilio M. Ortiz Collection, The Richard Margolis Collection and The Rutherford Collection, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.
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