Bolivia 1648-P R 8 reales
This specimen was lot 796 in Sedwick sale 34 (Winter Park, FL, November 2023), where it sold for $4,500. The catalog description[1] noted, "Potosí, Bolivia, cob 8 reales, 1648 R, extremely rare. Despite its crudeness, this is a significant coin, as the date is full and clear outside a full cross-lions-castles, and the assayer R is reasonably clear (enough to confirm it is not T or Z, the only other possibilities) below bold mintmark to left of full shield, low-contrast Fine with edge-crack. Assayer R was Felipe Ramirez de Arellano, who was famously executed for his role in the debasement scandal that undermined reliance on Spanish silver and caused a massive devaluation and redesign. It is even arguable that this coin is superior to the only other example we have seen, lot 908 in Sedwick Auction 15 (hammered at $8100), which we described at the time as 'probably the finest example known for this assayer.'" This type was struck 1625-48 for Philip IV. It was discredited in the debasement scandal of 1650-52 when authorities in Spain finally acknowledged that a cabal at the Potosí mint had been cheating the king for years. Assayer "R" served 1648 only. The other mints were instructed to melt down the nonconforming cobs but coin shortages were such that they were counterstamped instead. Even so, these late dates (after 1645) are rare today.
Recorded mintage: unknown.
Specification: 27.07 g, 0.931 fine silver, this specimen 26.95 grams.
Catalog reference: Cayón unlisted, S-P31; KM-19a; Cal-unl.
- 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.
- Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1601-1700, 6th ed., Iola, WI: Krause Publications, 2014.
- 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]Sedwick, Daniel Frank, Augi Garcia, Cori Sedwick Downing and Connor Falk, Treasure Auction 34, World, U.S Coins and Paper Money, Winter Park, FL: Daniel Frank Sedwick LLC, 2023.
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