Colombia 2 Escudos 1701-14 "1715 Fleet Shipwreck" PCGS 62
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The Colombia 1701-14 2 escudos coin is a fascinating piece of numismatic history from the early 18th century. Let's explore its context and significance.
Royal Reign
This coin was minted during the reign of Philip V of Spain, who ruled from 1700 to 1746. Philip V was the first Spanish monarch from the House of Bourbon and ascended to the throne following the death of Charles II, the last Habsburg ruler of Spain. His reign marked the beginning of the Bourbon dynasty in Spain and its colonies, including New Granada (present-day Colombia).
Mint Information
The 2 escudos coin was likely minted at the Santa Fe de Bogotá mint in New Granada. This mint, established in 1620, was one of the most important in the Spanish colonial empire. It produced gold coins from locally mined gold, which was abundant in the region. The "NR" mint mark, standing for "Nuevo Reino" (New Kingdom), was typically used on coins from this mint during this period.
Socio-Economic Conditions
During the early 18th century, New Granada's economy was heavily focused on gold mining. The region was a significant source of gold for the Spanish Empire, and the mining industry played a crucial role in the colonial economy. Indigenous labor and African slaves were often used in the mines, contributing to the complex social hierarchy of the colony.
The colonial economy was based almost entirely on gold mining, including the practice of robbing gold from indigenous graves (guacas). This reliance on precious metals shaped the social and economic landscape of the region, with a small elite controlling most of the wealth and power.
Agriculture also played a role in the economy, though it was less prominent than mining. Large haciendas produced crops for local consumption and export, while smaller farms supported subsistence agriculture.
Numismatic Significance
The PCGS (Professional Coin Grading Service) grade of 62 indicates that this coin is in uncirculated condition with only minor imperfections. This high grade suggests that the coin was well-preserved, likely due to being part of a shipment or personal hoard rather than circulating widely in commerce.
Gold coins of this era, particularly those in such good condition, are highly valued by collectors. They offer a tangible connection to the economic history of colonial Latin America and the global trade networks of the early 18th century.
In conclusion, this Colombia 1701-14 2 escudos coin represents a period of transition in Spanish colonial rule, the importance of New Granada's gold production to the empire, and the complex socio-economic conditions of early 18th century Colombia. Its high grade makes it a particularly valuable specimen for numismatists and historians alike.1
Click Here to read more about the '1715 Fleet Shipwreck'
Royal Reign
This coin was minted during the reign of Philip V of Spain, who ruled from 1700 to 1746. Philip V was the first Spanish monarch from the House of Bourbon and ascended to the throne following the death of Charles II, the last Habsburg ruler of Spain. His reign marked the beginning of the Bourbon dynasty in Spain and its colonies, including New Granada (present-day Colombia).
Mint Information
The 2 escudos coin was likely minted at the Santa Fe de Bogotá mint in New Granada. This mint, established in 1620, was one of the most important in the Spanish colonial empire. It produced gold coins from locally mined gold, which was abundant in the region. The "NR" mint mark, standing for "Nuevo Reino" (New Kingdom), was typically used on coins from this mint during this period.
Socio-Economic Conditions
During the early 18th century, New Granada's economy was heavily focused on gold mining. The region was a significant source of gold for the Spanish Empire, and the mining industry played a crucial role in the colonial economy. Indigenous labor and African slaves were often used in the mines, contributing to the complex social hierarchy of the colony.
The colonial economy was based almost entirely on gold mining, including the practice of robbing gold from indigenous graves (guacas). This reliance on precious metals shaped the social and economic landscape of the region, with a small elite controlling most of the wealth and power.
Agriculture also played a role in the economy, though it was less prominent than mining. Large haciendas produced crops for local consumption and export, while smaller farms supported subsistence agriculture.
Numismatic Significance
The PCGS (Professional Coin Grading Service) grade of 62 indicates that this coin is in uncirculated condition with only minor imperfections. This high grade suggests that the coin was well-preserved, likely due to being part of a shipment or personal hoard rather than circulating widely in commerce.
Gold coins of this era, particularly those in such good condition, are highly valued by collectors. They offer a tangible connection to the economic history of colonial Latin America and the global trade networks of the early 18th century.
In conclusion, this Colombia 1701-14 2 escudos coin represents a period of transition in Spanish colonial rule, the importance of New Granada's gold production to the empire, and the complex socio-economic conditions of early 18th century Colombia. Its high grade makes it a particularly valuable specimen for numismatists and historians alike.1
Click Here to read more about the '1715 Fleet Shipwreck'
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