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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 In 1773 the last cob ever struck came off the press in Potosi, long since superseded by milled coins (begun there in 1767).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 (2nd period).
S-P6; KM-5.1. 26.45 grams.
Choice full shield and cross-lions-castle and tressure plus most of legends,
very nicely toned VF+, bold commas in legend, weak assayer that could be
B/L. |
g051804191088 |
$525 |
 |
Potosi, Bolivia, cob 8 reales, Philip
III, assayer R (curved leg).
S-P15; KM-10; CT-126 . 26.37
grams. Good full shield and cross (more evenly struck than most for this
assayer), Fine+ with nice toning (darker around details). |
g051804191090 |
$295 |
 |
Potosi, Bolivia, cob 8 reales, Philip
IV, assayer not visible, quadrants of cross transposed (mid-1620s).
KM-19. 26.88 grams. Small
flan with full but weak and slightly off-center shield, full but slightly
doubled cross, richly toned VF (low contrast). |
g051804191091 |
$250 |
 |
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 |
 |
Potosi, Bolivia, cob 8 reales, 1640,
assayer not visible, rare.
KM-19a. 26.90 grams. Full
and clear date with particularly bold 0 (rare thus), also one nice lion and
nearly full king's name and ordinal but otherwise crude, Fine, toned on
fields. |
g051804191093 |
$395 |
 |
Potosi, Bolivia, cob 8 reales, Philip IV, assayer not visible (1640s), debased and underweight.
20.45 grams. Fascinating example of the type of coin that was wrecking the world economy and was eventually recalled (this one somehow overlooked), as it was clearly struck underweight (although part of the edge shows slight shaving, too) and the spaces around the details are loaded with a rusty layer of coppery oxidation and sediment, also typically crude in strike (off-center shield but good full cross), Fine or so. |
g041818221001 |
$240 |
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Shield type 4 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 4
reales, Philip II, assayer B (1st period).
S-P4; KM-4.2. 13.37 grams.
Very broad flan with much legend including bold D,G, ISPANIA(RVM) without H,
bold assayer and denomination, full but partially flat shield and cross,
AXF. |
g051804191094 |
$350 |
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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 II, assayer B (2nd period). S-P6; KM-3.2; CT-486. 5.93
grams. Broad flan with much legend and full interiors, minor weak spots, AVF,
uneven toning, slight surface porosity. |
g051804191095 |
$295 |
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Potosi, Bolivia, cob 2 reales, Philip III, assayer C, rare.
Bold assayer, full but weaker shield and cross, Fine with surface corrosion (salvaged), patchy toning. |
g061604191049 |
$140 |
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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 T (1640s), quadrants of cross transposed.
6.58 grams. Broad flan with full but doubled shield and cross (the latter with "furry" lions in incorrect quadrants), full assayer T, AVF. |
g051704191051 |
$115 |
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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 |
Item # |
Price |
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Potosi, Bolivia, cob 1 real, Philip II, assayer B (3rd period).
Thin, round flan with full but weak shield and cross and crown, full P-B, Fine+ with very light toning. |
g061604193021 |
$70 |
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Potosi, Bolivia, cob 1 real, Philip II, assayer not visible (3rd-period B).
Full cross and shield and nicely toned but with surface corrosion, Fine overall. |
g061604193033 |
$60 |
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Potosi, Bolivia, cob 1
real, 1626T, rare.
With clear bottoms of digits
of date, this coin could easily be read as 1620 (as were similar specimens
identifed by Sellschopp), but there is also a full P•T, which indicates
post-1622, also nearly full shield and cross, Fine with toned fields. |
g061604191053 |
$195 |
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Potosi, Bolivia, cob 1 real, (1649)O.
Crude Fine with dark toning, good full cross, scarce. |
g061604193041 |
$60 |
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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 right, mintmark P to left, rare,
rainbow toned.
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g081504146017 |
$975 |
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Potosi, Bolivia, cob 1/4 real, Philip II, assayer R (Rincon) to left, mintmark P to right, rare.
Richly toned AVF with full inner details, nearly full crowns and legends, broad flan, tiny hole near edge. |
g081504146018 |
$975 |
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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 (1st period) to left, mintmark P to right,
very rare.
Clear B-P flanking castle,
early Seville-style lion and fine-dot borders, salvaged AVF with dark toning
and chips in edge. |
g081504146021 |
$975 |
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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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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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Potosi, Bolivia, cob 1 real, (1652)E Transitional, McLean Type II.
Full pillars, most of shield, broad-flan but unevenly-struck Fine+ with dark toning in crevices, small hole at edge. |
g021704373002 |
$95
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Pillars-and-waves 8 reales |
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Image Preview
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 8 reales, 1667E.
S-P37b; KM-26; CT-342. 27.91 grams. Good full cross with date below, full but partially flat pillars with clear date in legend, three assayers, darkly toned Fine+ with large edge-crack. |
g111604193021 |
$435 |
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Potosi, Bolivia, cob 8 reales, 1676E, Calbeto Plate Coin.
S-P37b; KM-26; CT-351. 25.84 grams. Very crude coin with low contrast due to dark toning and light surface corrosion (possibly from a wreck, otherwise Fine), but with two dates and mintmarks, three assayers, one nice crown, and desirable for its pedigree (this date considered rather scarce in Calbeto's time but now more common due to the Consolacion wreck of 1681). Plate Coin #1081 in Calbeto's Compendium VIII Reales (1970). |
g061604192019 |
$395 |
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Potosi, Bolivia, cob 8 reales, 1707Y.
S-P43a; KM-31; CT-867. 26.84 grams. Chunky flan with full but doubled pillars and cross, toned Fine, three dates. |
g111604192003 |
$295 |
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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, 1712Y.
S-P43a; KM-31; CT-872. 26.01 grams. Very crude strike (chunky and mostly flat) but with clear date, About Fine with uneven toning and spots of green, scarce. |
g051704191062 |
$225 |
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Potosi, Bolivia, cob 8 reales, 1718Y.
26.53 grams. Broad flan (not so chunky as most) with decent cross and pillars but much peripheral flatness, bold but doubled main date and part of a second one in the legend, Fine+ with toning around details, parts of edge jagged (as made), scarce. |
g071218151003 |
$395 |
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Potosi, Bolivia, cob 8 reales, 1737E.
26.38 grams. Bold date and assayer and mintmark above full waves, nearly full but doubled cross, uneven toning and light surface corrosion, VF details. |
g081718051001 |
$240 |
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Potosi, Bolivia, cob 8 reales, 1745q.
S-P50; KM-31a; CT-909. 26.94 grams. Very chunky flan with crude but well-centered pillars and cross, bold date, Fine, deeply toned. |
g121604340001 |
$275 |
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Potosi, Bolivia, cob 8 reales, 1761V-Y-V.
S-P57; KM-45; CT-948. 26.97 grams. Chunky but round, with somewhat flat strike for the era yet with two clear dates and two bold assayers, AVF with patchy toning. From the Marco Gardini collection of Potosi cob 8 reales. |
g061604193070 |
$295 |
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Pillars-and-waves 4 reales
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Description |
Item # |
Price |
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Potosi, Bolivia, cob 4 reales, 1738M.
S-P47; KM-30a; CT-1121. 13.25 grams. Toned Fine with crude strike (especially the cross) and flan (especially the edge) but with two full dates. |
g111604193026 |
$295 |
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Potosi, Bolivia, cob 4 reales, 1744C.
S-P49; KM-30a; CT-1129. 13.67 grams. Bold full cross (nicely toned), crude pillars-and-waves (uneven black patch) on a chunky flan, date and assayer clear (scarce), AVF. |
g111604193038 |
$295 |
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Potosi, Bolivia, cob 4 reales, 1745(q).
S-P50; KM-30a; CT-1131. 13.69 grams. Interestingly diamond-shaped flan (still chunky as usual), good full pillars and cross, two dates, VF+. |
g061604191078 |
$495 |
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Potosi, Bolivia, cob 4 reales, 1753q.
S-P52; KM-39; CT-441. 13.67 grams. Full date over bold full waves (very scarce, missing in Sellschopp), very bold full cross, crude flan as usual but atypically high grade (XF), lightly toned. |
g061604191080 |
$435 |
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Potosi, Bolivia, cob 4
reales, 1765(V)-Y.
S-P57; KM-44; CT-1158. 13.18
grams. Two very bold dates, full centers but peripheries flat, AVF with
sediment on fields, slightly rough surfaces. |
g051804191098 |
$295 |
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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, 1665E.
4.78 grams. Crude flan with bold waves and tops of pillars, off-center cross, lightly corroded Fine with flat spots. |
g061604284005 |
$110 |
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Potosi, Bolivia, cob 2 reales, 1674E.
7.32 grams. Full cross and pillars, two dates, solid VF but with lots of dark toning and staining and verdigris (needs cleaning). |
g061504191115 |
$165 |
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Potosi, Bolivia, cob 2 reales, 1676E.
6.35 grams. Good full cross, full but off-center pillars, two clear dates and mintmarks and assayers, lightly toned VF with small edge-split. |
g051604275001 |
$195 |
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Potosi, Bolivia, cob 2 reales, 1745q.
6.93 grams. Nice but off-center full cross, full but encrusted pillars, darkly toned VF. |
g011607201001 |
$175 |
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Potosi, Bolivia, cob 2 reales, 1747q.
6.91 grams. Good full pillars with bold date, good but off-center cross, oblong flan, nicely toned VF+. |
g011607201003 |
$195 |
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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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Potosi, Bolivia, cob 2 reales, 1767(V-Y).
6.60 grams. Crude chunky flan with very sharp points (hence high grade, like XF for actual wear), full cross, unevenly toned. |
g061604284009 |
$85 |
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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 |
$75 |
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Potosi, Bolivia, cob 1 real, 1718Y.
3.88 grams. Toned About Fine with clear date, much flatness. |
g061604191137 |
$65 |
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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, 1656 (date in legend), distinctive monogram superimposed on cross
with 4 dots, rare.
Broad enough flan to show
bottoms of all four digits of date in cross-side legend, good cross but
messy (doubled) monogram, richly old-toned Fine with hole. |
g061504192014 |
$95 |
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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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