Bolivia 8 Reales 1578-1621 "Santa Margarita 1622 Shipwreck" RAW
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Philip II–Philip III "Santa Margarita" Cob 8 Reales ND (1578–1621) P-B, XF (Shipwreck Effect), Potosí Mint, 20.58g. Grade II.
Recovered from the Santa Margarita (sank in 1622 off Key West, Florida).
Includes original tag and Treasure Salvors photo-certificate #8427.
GRADE 2, looks like a Grade 1 ~
This silver Cob 8 Reales coin bears the markings of two Spanish monarchs—Philip II and Philip III—spanning an era of imperial zenith and growing decline. Struck at the Potosí mint, nestled high in the Andes of modern-day Bolivia, this coin embodies the wealth that powered the Spanish Empire during the late 16th and early 17th centuries. Under Philip II (reigned 1556–1598), Spain ruled over a global empire “on which the sun never set,” fueled by a torrent of silver from New World mines. His son and successor, Philip III (reigned 1598–1621), inherited a vast realm but struggled under the weight of war debts and court corruption, delegating much of his authority to favorites such as the Duke of Lerma. Despite internal decline, the Spanish treasure fleets continued their perilous voyages, carrying unimaginable riches from the Americas to the Spanish crown.
This particular coin was lost aboard the Santa Margarita, one of the most storied shipwrecks in maritime history. A member of the 1622 Tierra Firme treasure fleet, the Santa Margarita sailed alongside the now-legendary Nuestra Señora de Atocha. Laden with vast riches—including silver reales, gold ingots, emeralds, and contraband treasures smuggled aboard to dodge royal taxes—the fleet departed Havana on September 4, 1622. Just two days later, it was caught in a violent hurricane off the Florida Keys. The Santa Margarita, along with several other ships, was torn apart by the storm and sank in shallow waters near present-day Key West. The losses were catastrophic: not only treasure but hundreds of lives and priceless cultural artifacts vanished beneath the waves.
In the aftermath, Spain launched desperate salvage missions using indigenous and enslaved African divers in a centuries-old effort to reclaim the treasure. Some silver was recovered, but most of the cargo remained elusive—until the late 20th century. In the 1970s and ’80s, famed treasure hunter Mel Fisher and his team mounted an audacious and technologically advanced search for the 1622 fleet. While the Atocha's legendary "motherlode" was discovered in 1985, the Santa Margarita's treasure was more scattered, hidden across a broader stretch of seafloor. Even so, recoveries from the wreck revealed astonishing items: gold bars stamped with royal markings, emerald-encrusted crucifixes, pearl jewelry, and, of course, countless silver cobs like this one—each a tangible link to the golden age of Spanish seafaring and global conquest.
Unlike modern coins, each cob was individually hand-cut and struck, making every example unique. The “shipwreck effect” visible on this piece adds to its mystique—an authentic signature of its centuries beneath the sea. Now, over 400 years later, this coin offers collectors and historians alike a rare glimpse into the perilous maritime lifelines that sustained the Spanish Empire—and the unforgiving power of the sea that could destroy them in a single night.x
Click Here to read more about the 'Atocha 1622 Shipwreck'
Recovered from the Santa Margarita (sank in 1622 off Key West, Florida).
Includes original tag and Treasure Salvors photo-certificate #8427.
GRADE 2, looks like a Grade 1 ~
This silver Cob 8 Reales coin bears the markings of two Spanish monarchs—Philip II and Philip III—spanning an era of imperial zenith and growing decline. Struck at the Potosí mint, nestled high in the Andes of modern-day Bolivia, this coin embodies the wealth that powered the Spanish Empire during the late 16th and early 17th centuries. Under Philip II (reigned 1556–1598), Spain ruled over a global empire “on which the sun never set,” fueled by a torrent of silver from New World mines. His son and successor, Philip III (reigned 1598–1621), inherited a vast realm but struggled under the weight of war debts and court corruption, delegating much of his authority to favorites such as the Duke of Lerma. Despite internal decline, the Spanish treasure fleets continued their perilous voyages, carrying unimaginable riches from the Americas to the Spanish crown.
This particular coin was lost aboard the Santa Margarita, one of the most storied shipwrecks in maritime history. A member of the 1622 Tierra Firme treasure fleet, the Santa Margarita sailed alongside the now-legendary Nuestra Señora de Atocha. Laden with vast riches—including silver reales, gold ingots, emeralds, and contraband treasures smuggled aboard to dodge royal taxes—the fleet departed Havana on September 4, 1622. Just two days later, it was caught in a violent hurricane off the Florida Keys. The Santa Margarita, along with several other ships, was torn apart by the storm and sank in shallow waters near present-day Key West. The losses were catastrophic: not only treasure but hundreds of lives and priceless cultural artifacts vanished beneath the waves.
In the aftermath, Spain launched desperate salvage missions using indigenous and enslaved African divers in a centuries-old effort to reclaim the treasure. Some silver was recovered, but most of the cargo remained elusive—until the late 20th century. In the 1970s and ’80s, famed treasure hunter Mel Fisher and his team mounted an audacious and technologically advanced search for the 1622 fleet. While the Atocha's legendary "motherlode" was discovered in 1985, the Santa Margarita's treasure was more scattered, hidden across a broader stretch of seafloor. Even so, recoveries from the wreck revealed astonishing items: gold bars stamped with royal markings, emerald-encrusted crucifixes, pearl jewelry, and, of course, countless silver cobs like this one—each a tangible link to the golden age of Spanish seafaring and global conquest.
Unlike modern coins, each cob was individually hand-cut and struck, making every example unique. The “shipwreck effect” visible on this piece adds to its mystique—an authentic signature of its centuries beneath the sea. Now, over 400 years later, this coin offers collectors and historians alike a rare glimpse into the perilous maritime lifelines that sustained the Spanish Empire—and the unforgiving power of the sea that could destroy them in a single night.x
Click Here to read more about the 'Atocha 1622 Shipwreck'
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