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Bolivia: Philip IV Cob 2 Reales ND (1646) P-V/TR Fine Details (Saltwater Damage) PCGS,...
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Sold on Oct 22, 2024 for:
$228.00
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Description
Philip IV Cob 2 Reales ND (1646) P-V/TR Fine Details (Saltwater Damage) PCGS, Potosi mint, Cal-Type-239. 7.70gm. A great survivor from the Potosi Scandal, the present offering highly overweight and red in color, an indicative of the assayer's attempt to compensate the silver purity/copper in the alloy making the planchettes heavier.Organized by the assayers and other mint workers, the plan behind the "Potosi Scandal" was to reduce the purity of their coins while the thieves kept the remaining silver for themselves. The impacts were immense, even shaking Spain's reputation with the Asian trade, where merchants had the upmost trust for the Spanish Cob's silver quality. A transition of coinages occurred, full of unsuccessful attempts to uniformize the currency, one of them being the countermarking of the scandal coins with Crowned letters (or crowns alone), reducing the 8 Reales to 7 1/2 Reales. To set in stone the "New Potosi mint", a new style of Cobs was created (Pillars and Waves) and the scandal coins, countermarked or not, were to be re-melted/destroyed.
Metal: Silver
Auction Info
2024 October 22 Spotlight: Latin America World Coins Showcase Auction #61410 (go to Auction Home page)
Auction Dates
October, 2024
22nd
Tuesday
Internet/Mail Bids: 16
Lot Tracking Activity: N/A
Page Views: 139
Buyer's Premium per Lot:
20% of the successful bid per lot.
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