1714 Potosi 8 Reales PCGS VF-30 – Finest Known
Item #CC-0667 | 1714 Potosi 8 Reales PCGS VF-30 – Finest Known
Mint: Potosi, Bolivia
Ruler/Period: King Philip V
Assayer: Y “Diego de Ybarbouro”
Grade: VF-30
For details and population on this coin from PCGS, click on the serial number here: 50310244
Description: This is a rare 1714 eight reales, also known as a cob or macuquina. This coin was minted at the infamous Mountain of Silver in Potosi, Bolivia and is the finest example graded by PCGS to date.
The name macuquina is known in Spain and Spanish America as the type of coin minted with a hammer and dies, a method widely used from the 16th century to the mid-18th century. There are various opinions about the origin of the word: while some maintain that it comes from the Arabic word “machuch” (‘approved’ or ‘sanctioned’), others claim that it comes from the Quechua expression Makkaikuna – or macay pina -, which would make reference to its manufacture with hammer blows. No two macuquinas are the same and rarely will you find one like this that has a double date, visible assayer initial, and mint mark. This coin also displays a full cross, nicely struck castles and lions, as well as the pillars of Hercules on the obverse.
Another interesting fact about this coin is that very few 1714 dated Potosi coins in any denomination exist today. It is estimated that an entire year’s worth of coins minted at the Potosi mint were shipped back to Spain in 1715 to be melted down and converted into traditional Spanish coinage. Most of the 1714 dated cobs from the Potosi mint known today are sea salvaged and found on the 1715 fleet shipwreck sites off of Florida.
It is quite possible that this coin, since it is not environmentally damaged could have been recovered during salvage operations by the Spanish in the days immediately following the sinking of the treasure fleet on July 31, 1715. It is also possible that this coin could have been part of the recovered treasure that was taken by pirates who raided the salvaged treasure while the survivors of the Spanish fleet waited to be rescued!
For more history on the 1715 Spanish Fleet, visit:
https://www.historytoday.com/1715-plate-fleet-and-rise-pirates
http://www.cindyvallar.com/1715Fleet.html
In stock
$1,550.00
