Bolivia 8 Reales 1578-96 "Santa Margarita 1622 Shipwreck" PCGS VF
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Ex: Santa Margarita shipwreck west of Key West, Florida (includes original tag from Treasure Salvors, Inc., #406)
BOLIVIA. Cob 8 Reales, ND (1578–1595)-P B. Potosí Mint. Philip II. PCGS VF
KM-5.6; Cal-672. Weight: 24.34 grams.
Recovered from the legendary wreck of the Santa Margarita, this Bolivian cob 8 Reales is an exceptional relic of Spanish colonial ambition, minted under the reign of Philip II, one of the most formidable monarchs of early modern Europe. Accompanied by its original Treasure Salvors tag (#406), this piece is not only a genuine artifact of the Spanish Main—it is a surviving witness to the empire’s transoceanic power and peril.
Struck at the Potosí Mint between 1578 and 1595, this cob features a remarkably complete and well-preserved Habsburg shield, flanked by a crisp Roman numeral VIII and clear assayer’s initial “B.” The mintmark “P” is likewise bold, with strong evidence of the iconic castles and lions of León and Castile. Unlike many shipwreck coins subjected to harsh marine degradation, this piece displays only minimal corrosion and retains an attractive deep gunmetal tone—a result of favorable preservation in the silt and low-oxygen layers of the Margarita’s wreck site.
The Santa Margarita was one of the principal ships of the 1622 Tierra Firme Fleet, which met its fate off the Florida Keys during a hurricane that scattered millions of pesos in treasure across the ocean floor. Alongside the more famous Atocha, the Margarita carried tons of New World silver and gold—some of it decades old, drawn from royal fifth stores and private merchants’ holdings. Coins like this one were part of the economic lifeblood of the Spanish Empire, extracted from the silver-rich veins of Cerro Rico in Potosí, where Indigenous workers toiled under the draconian mita labor system imposed by the crown.
Philip II (reigned 1556–1598) presided over a global empire, reaching its zenith in both territory and complexity. During the time this coin was minted, Spain was engaged in bitter conflicts across Europe, including the Dutch Revolt and the Anglo-Spanish War, culminating in the disastrous 1588 Spanish Armada. Yet despite naval defeats and financial crises, the silver from the Americas continued to fund Habsburg ambitions—sustaining armies, underwriting religious wars, and flooding European markets with hard currency.
This coin, with its tangible sea-worn edges and historical resonance, is more than bullion—it is a physical remnant of an age when silver shaped the fate of continents. A rare opportunity for advanced collectors and scholars alike.
Click Here to read more about the 'Atocha 1622 Shipwreck'
BOLIVIA. Cob 8 Reales, ND (1578–1595)-P B. Potosí Mint. Philip II. PCGS VF
KM-5.6; Cal-672. Weight: 24.34 grams.
Recovered from the legendary wreck of the Santa Margarita, this Bolivian cob 8 Reales is an exceptional relic of Spanish colonial ambition, minted under the reign of Philip II, one of the most formidable monarchs of early modern Europe. Accompanied by its original Treasure Salvors tag (#406), this piece is not only a genuine artifact of the Spanish Main—it is a surviving witness to the empire’s transoceanic power and peril.
Struck at the Potosí Mint between 1578 and 1595, this cob features a remarkably complete and well-preserved Habsburg shield, flanked by a crisp Roman numeral VIII and clear assayer’s initial “B.” The mintmark “P” is likewise bold, with strong evidence of the iconic castles and lions of León and Castile. Unlike many shipwreck coins subjected to harsh marine degradation, this piece displays only minimal corrosion and retains an attractive deep gunmetal tone—a result of favorable preservation in the silt and low-oxygen layers of the Margarita’s wreck site.
The Santa Margarita was one of the principal ships of the 1622 Tierra Firme Fleet, which met its fate off the Florida Keys during a hurricane that scattered millions of pesos in treasure across the ocean floor. Alongside the more famous Atocha, the Margarita carried tons of New World silver and gold—some of it decades old, drawn from royal fifth stores and private merchants’ holdings. Coins like this one were part of the economic lifeblood of the Spanish Empire, extracted from the silver-rich veins of Cerro Rico in Potosí, where Indigenous workers toiled under the draconian mita labor system imposed by the crown.
Philip II (reigned 1556–1598) presided over a global empire, reaching its zenith in both territory and complexity. During the time this coin was minted, Spain was engaged in bitter conflicts across Europe, including the Dutch Revolt and the Anglo-Spanish War, culminating in the disastrous 1588 Spanish Armada. Yet despite naval defeats and financial crises, the silver from the Americas continued to fund Habsburg ambitions—sustaining armies, underwriting religious wars, and flooding European markets with hard currency.
This coin, with its tangible sea-worn edges and historical resonance, is more than bullion—it is a physical remnant of an age when silver shaped the fate of continents. A rare opportunity for advanced collectors and scholars alike.
Click Here to read more about the 'Atocha 1622 Shipwreck'
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