Bolivia 8 Reales 1598-1621 "Santa Margarita 1622 Shipwreck" RAW
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Philip III “Santa Margarita” Cob 8 Reales (1598–1621) – Potosí Mint – XF (Shipwreck Effect), KM10 – 18.56g
Grade III – Salvaged from the legendary Santa Margarita, which sank in 1622 off the coast of Key West, Florida.
Includes original tag and a Treasure Salvors photo certificate (#2443).
This worn but commanding silver 8 reales cob, struck during the reign of Philip III of Spain (r. 1598–1621) at the Potosí mint in Upper Peru (modern-day Bolivia), is far more than a coin—it is a fragment of maritime tragedy and imperial ambition. Encrusted with the gritty legacy of centuries beneath the sea, it hails from the doomed galleon Santa Margarita, one of the principal ships lost in the infamous 1622 Treasure Fleet disaster.
The Santa Margarita: A Silent Witness to Imperial Spain
The Santa Margarita was one of the crown jewels in Spain’s heavily laden 1622 treasure fleet—an immense armada tasked with ferrying the colonial wealth of the Americas back to Europe. Alongside her more famous sister ship, the Nuestra Señora de Atocha, the Santa Margarita carried an astonishing cargo of riches: silver coins freshly minted in Potosí, gleaming gold ingots, opulent jewels, and lavish personal effects meant for European elites.
Departing Havana on September 4, 1622, the fleet sailed directly into the teeth of a violent hurricane just days later. Off the Florida Keys, wind and waves tore through the armada. The Santa Margarita, like the Atocha, was smashed against the reef-laced seafloor, sending her treasure tumbling across the seabed and her crew to a watery grave.
A Lost Fortune Beneath the Waves
The Santa Margarita's cargo manifest—incomplete by design—only hinted at the ship's full bounty. Much of the treasure was smuggled aboard to dodge the royal quinto (the 20% tax claimed by the Spanish crown), meaning the official records drastically undercounted her wealth. Beyond coins and bullion, the Margarita carried priceless cultural artifacts: intricately worked gold chains, religious reliquaries, emerald-studded crosses, and the personal possessions of nobles and merchants making the transatlantic journey.
Despite immediate salvage attempts by Spain—including the use of enslaved indigenous and African divers—the majority of the Santa Margarita's riches remained lost for over three centuries. Her wreck became the stuff of legend, tantalizing treasure hunters and maritime historians alike.
Rediscovery in the 20th Century
It wasn’t until the 1970s that famed treasure hunter Mel Fisher and his team with Treasure Salvors, Inc. began a meticulous search for the lost ships of 1622. While the Atocha's dramatic "motherlode" discovery in 1985 captured global headlines, the recovery of the Santa Margarita was no less significant. Its treasure was scattered across a wide area, complicating efforts and extending the timeline—but what was found was breathtaking: gold bars marked with foundry stamps, silver coins like this one, and jewelry that revealed the finest craftsmanship of Spain’s colonial age.
This coin--authentic, sea-worn, and charged with history—emerged from that recovery. Its surfaces bear the marks of centuries beneath the waves, but its story has never been clearer. Each edge speaks to Spain’s vast imperial reach, the perils of maritime trade, and the enduring allure of lost treasure.
A Tangible Link to Empire and Shipwreck
Today, coins from the Santa Margarita are held in museum collections and private hands, each one a survivor of a historic cataclysm. This piece, accompanied by its original Treasure Salvors tag and photo certificate, offers collectors a chance to hold a piece of colonial ambition, maritime tragedy, and rediscovered glory. Though often overshadowed by the Atocha’s fame, the Santa Margarita’s legacy is equally compelling—a testament to the perilous wealth of an empire that tried to control the oceans.x
Click Here to read more about the 'Atocha 1622 Shipwreck'
Grade III – Salvaged from the legendary Santa Margarita, which sank in 1622 off the coast of Key West, Florida.
Includes original tag and a Treasure Salvors photo certificate (#2443).
This worn but commanding silver 8 reales cob, struck during the reign of Philip III of Spain (r. 1598–1621) at the Potosí mint in Upper Peru (modern-day Bolivia), is far more than a coin—it is a fragment of maritime tragedy and imperial ambition. Encrusted with the gritty legacy of centuries beneath the sea, it hails from the doomed galleon Santa Margarita, one of the principal ships lost in the infamous 1622 Treasure Fleet disaster.
The Santa Margarita: A Silent Witness to Imperial Spain
The Santa Margarita was one of the crown jewels in Spain’s heavily laden 1622 treasure fleet—an immense armada tasked with ferrying the colonial wealth of the Americas back to Europe. Alongside her more famous sister ship, the Nuestra Señora de Atocha, the Santa Margarita carried an astonishing cargo of riches: silver coins freshly minted in Potosí, gleaming gold ingots, opulent jewels, and lavish personal effects meant for European elites.
Departing Havana on September 4, 1622, the fleet sailed directly into the teeth of a violent hurricane just days later. Off the Florida Keys, wind and waves tore through the armada. The Santa Margarita, like the Atocha, was smashed against the reef-laced seafloor, sending her treasure tumbling across the seabed and her crew to a watery grave.
A Lost Fortune Beneath the Waves
The Santa Margarita's cargo manifest—incomplete by design—only hinted at the ship's full bounty. Much of the treasure was smuggled aboard to dodge the royal quinto (the 20% tax claimed by the Spanish crown), meaning the official records drastically undercounted her wealth. Beyond coins and bullion, the Margarita carried priceless cultural artifacts: intricately worked gold chains, religious reliquaries, emerald-studded crosses, and the personal possessions of nobles and merchants making the transatlantic journey.
Despite immediate salvage attempts by Spain—including the use of enslaved indigenous and African divers—the majority of the Santa Margarita's riches remained lost for over three centuries. Her wreck became the stuff of legend, tantalizing treasure hunters and maritime historians alike.
Rediscovery in the 20th Century
It wasn’t until the 1970s that famed treasure hunter Mel Fisher and his team with Treasure Salvors, Inc. began a meticulous search for the lost ships of 1622. While the Atocha's dramatic "motherlode" discovery in 1985 captured global headlines, the recovery of the Santa Margarita was no less significant. Its treasure was scattered across a wide area, complicating efforts and extending the timeline—but what was found was breathtaking: gold bars marked with foundry stamps, silver coins like this one, and jewelry that revealed the finest craftsmanship of Spain’s colonial age.
This coin--authentic, sea-worn, and charged with history—emerged from that recovery. Its surfaces bear the marks of centuries beneath the waves, but its story has never been clearer. Each edge speaks to Spain’s vast imperial reach, the perils of maritime trade, and the enduring allure of lost treasure.
A Tangible Link to Empire and Shipwreck
Today, coins from the Santa Margarita are held in museum collections and private hands, each one a survivor of a historic cataclysm. This piece, accompanied by its original Treasure Salvors tag and photo certificate, offers collectors a chance to hold a piece of colonial ambition, maritime tragedy, and rediscovered glory. Though often overshadowed by the Atocha’s fame, the Santa Margarita’s legacy is equally compelling—a testament to the perilous wealth of an empire that tried to control the oceans.x
Click Here to read more about the 'Atocha 1622 Shipwreck'
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