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Silver Cobs of Potosi,
1574-1773
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Bolivian silver cobs
 When
it comes to silver cobs, no mint was more prolific than Potosi, Bolivia, where
an entire mountain of silver was discovered in the early 1500s. It took a little
while before authorities figured out that a mint was needed on site, where the
silver was being mined, even though the extreme remoteness and elevation
presented major problems that were never fully resolved. The most egregious
problem, perhaps, was an almost lawless environment where silver barons
controlled the government and took full advantage by owning and profiting from
mint offices and even by debasing the silver itself, causing a major scandal
that put the entire world on its financial ear in the mid-1600s. Up to that
point Potosi struck shield-type cobs, some of which were then recalled and
either melted or countermarked (to attest to proper fineness) in 1652. To
rectify the whole system, a new design was begun in that year, starting with
some "transitional" issues and culminating in the pillars-and-waves design that
became a global mainstay again throughout the rest of the 1600s and most of the
1700s. In 1773 the last cob ever struck came off the press in Potosi, long since
superseded by milled coins (begun there in 1767).
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Shield type:
8 reales |
4 reales
| 2 reales
| 1 reales
| 1/2 reales
| 1/4 reales
Pillars-and-waves: 8 reales
| 4 reales
| 2 reales
| 1 reales
| 1/2 reales
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Potosi, Bolivia
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Description |
Item # |
Price |
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Shield type 8 reales
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Potosi, Bolivia, cob 8
reales, Philip II, assayer B (5th period).
S-P14; KM-unl (5.1 for
type). 26.37 grams. Non-toned VF with bold full shield, full but weaker
cross with slight doubling and surface corrosion, full P-B. |
g051904191073 |
$250 |
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Potosi, Bolivia, cob 8 reales, (162)7T,
quadrants of cross transposed, rare.
S-P24; KM-19a; CT-467. 27.07
grams. Non-toned XF with good full shield and cross (rare to see transposed
quadrants this late), tail of 7 of date visible. |
g051804191092 |
$395 |
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Shield type 4 reales
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Description |
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Shield type 2 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 2
reales, Philip III, assayer C, rare.
Corroded from salvage and
silvery from cleaning, bold assayer and cross (slightly off-center), Fine or
so overall. |
g061604191050 |
$135 |
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Potosi, Bolivia, cob 2
reales, Philip IV, assayer P (1620s).
Bold P-dot-P, full but weak
shield and cross, Fine+. |
g051704191047 |
$110 |
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Potosi, Bolivia, cob 2
reales, (164)9O, rare.
Full P-O and clear 9 of
date, most of shield and cross despite flatness, somewhat silvery VF with
toning in crevices. |
g061604284012 |
$195 |
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Shield type 1 reales
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Description |
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1/4 reales (Cuartillos)
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Description |
Item # |
Price |
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Potosi, Bolivia, cob
1/4 real, Philip II, assayer R (Rincon) to left, mintmark P to right, rare.
Broad flan but with small
pieces of edge missing, AVF with full castle and R-P. good full lion (tall,
standing), richly toned. |
g081504146019 |
$595 |
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Potosi, Bolivia, cob
1/4 real, Philip II, assayer B (5th period) to left, mintmark P to right,
border of boxes on obverse, rare.
Lightly corroded surfaces
(salvaged) but with clear B and lion. |
g081504146026 |
$495 |
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Potosi, Bolivia, cob
1/4 real, Philip II, assayer B (5th period) to left, mintmark P to right,
border of boxes on obverse, large castle, rare.
Thin from salvage but with
bold VF details (castle and lion, B-P), darkly toned. |
g081504146024 |
$495 |
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Transitional type |
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Potosi, Bolivia, cob 1
real, (1652)E Transitional, McLean Type II.
Bold full pillars with
F-I-IIII / PLV-SV-LTR / E-I-E, top half of shield (and full crown) with
I-A-(P-5) to left and I-O-E-(2) to right, VF with toned fields, some
flatness. |
g021704373001 |
$195 |
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Pillars-and-waves 8 reales |
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 8
reales, 1712Y.
S-P43a; KM-31; CT-872. 26.34
grams. Good full cross, messy pillars on crude (chunky) flan, two dates
(very scarce thus), VF for the era (sharp edges) with light toning all over. |
g061604192022 |
$295 |
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Potosi, Bolivia, cob 8
reales, 1712Y.
S-P43a; KM-31; CT-872. 26.82
grams. Chunky and crude, with central details only, the pillars side
doubled, but with two dates visible and traditionally scarce, technically no
worse than AVF, nicely toned. |
g061604193067 |
$250 |
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Potosi, Bolivia, cob 8
reales, 1758q. Rather chunky AVF with rather bold pillars side, complete
date, mintmark, and assayer, partial cross with dark toning and
encrustation. |
g051904191110 |
$225 |
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Potosi, Bolivia, cob 8
reales, 1771V-Y. AVF, mostly complete pillars with clear date, bold and
almost complete cross, somewhat darkly toned. |
g051904191113 |
$245 |
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Pillars-and-waves 8 reales with countermarks
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Potosi, Bolivia, cob 8
reales, 1670E, with "Golden Fleece" countermark (Brabant, Spanish
Netherlands, 48 patards, 1652-1672) on cross side, rare. S-P37b; KM-26;
CT-345. 26.50 grams. Choice high grade (AU), with luster, the countermark
(MS) unusually complete, some flat areas but with full crown and bold CARO
of king's name, latest-date host we have ever seen for this curious Brabant
issue that was enacted in response to the Potosi mint scandal and transition
of 1652. |
g051904191186 |
$975 |
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Pillars-and-waves 4 reales
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Description |
Item # |
Price |
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Pillars-and-waves 2 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 2
reales, 1710Y. 4.95 grams. F/VF with stripped hole alongside natural
crack, clear date (scarce). |
g011919011001 |
$75 |
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Potosi, Bolivia, cob 2
reales, 1755q.
5.71 grams. Clear date, bold
assayer, toned but very worn (AVG). |
g071513031012 |
$65 |
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Pillars-and-waves 1 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 1
real, 1684V.
2.89 grams. Good full pillars
and cross, VF+ with hairline edge-split, three assayers. |
g061604191135 |
SOLD |
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Pillars-and-waves 1/2 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob
1/2 real, (1654), P•H at top, 1/4R flan (unique).
Good cross, full crown above
P•H but monogram off the flan (poorly centered), very small flan (thin) that
appears to be for a 1/4 real (which did not exist this late), VF with light
toning. |
g081504146031 |
$395 |
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Potosi, Bolivia, cob
1/2 real, 1744.
Bold date (possibly 4/3),
incomplete monogram and cross, Fine with patchy toning. |
g061604191149 |
$50 |
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Potosi, Bolivia, cob
1/2 real, 1763.
1.61 grams. Fine with some
encrustation, bold and clearly visible 763 of date, rare date. |
g101804231034 |
$95 |
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Daniel Frank
Sedwick, LLC - PO BOX 1964 | Winter Park, FL 32790 | Phone 407.975.3325 |
office@sedwickcoins.com |
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