Bolivia 1651-P E 8 reales

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Sedwick Treasure Auction 28, lot 580
Sed28-580r.jpg

This specimen was lot 580 in Sedwick Treasure Auction 28 (Winter Park, FL, November 2020), where it sold for $10,200. The catalog description[1] noted,

"Potosí, Bolivia, cob 8 reales Royal (galano), 1651E, with crowned-dot-F-dot countermark (four dots) on shield, very rare, NGC VF details / holed, Yriarte Plate Coin, Sellschopp Plate Coin. The final-known date of Potosi shield-type Royals (which are already rare as a type), represented by just a handful of examples from two different assayers (the other being O) and several different dies (the present coin not a match with Lazaro), about half of which exhibit revaluation countermarks (to circulate at 7-1/2 reales as opposed to the mandated reduction to 6 reales without countermark), which were actually not supposed to be applied to Royals at all since Royals were not meant to circulate. Like the other known examples, this coin is on a smaller flan than prior dates, its shield side missing the legend at bottom as a result (choice full crown at top, however), yet the cross side is perfectly centered and fully detailed, also with nice rich toning all over and desirably medal-aligned, with hole at top, the countermark in the shield nearly full and quite clear. Plate Coin #560 in Sellschopp's Las acunaciones de las cecas de Lima, La Plata y Potosi (1971) and Plate Coin #962 in Yriarte's Catalogo de los reales de a ocho (1965)."

This type was struck in large quantities 1621-52. As early as the 1630's there had been rumors that the mint was debasing their product but the government did not act until 1648, when a new assayer was sent to Potosi with orders to clean house. Eventually, to separate the new, reformed cobs from the old, suspect product, the coin was redesigned in 1652. This is the last year of the old design. Assayer "O" is also noted for the year.

Recorded mintage: unknown.

Specification: 27.07 g, 0.931 fine silver, this specimen is 26.72 grams.

Catalog reference: S-P36; KM-R19b; Cal-1395, Cayón-6425.

Source:

  • 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 and Cori Sedwick Downing, Treasure Auction 28, featuring the Dr. Peter Jones and John O'Brien collections, Winter Park, FL: Daniel Frank Sedwick LLC, 2020.

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