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Bolivia 8 Reales 1616-17 "Atocha 1622 Shipwreck" PCGS VF
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BOLIVIA, Potosí. Philip III (1598–1621). Cob 8 Reales, Assayer M/Q (rare), Cross Quadrants Transposed.
S-P18; KM-unl (type of KM-10); Cal-unl (Type 164). Weight: 20.92 g. FROM Sedwick
A handsome and historically significant cob 8 reales struck at the royal mint of Potosí, with the assayer’s mark M/Q boldly rendered to the left of the full Habsburg shield, the reverse featuring a complete cross—though partially doubled—with transposed quadrants, a variety of notable rarity. Surfaces retain VF interiors with rich black toning in recesses, while peripheral edge-loss from saltwater corrosion attests to its long entombment beneath the sea.
This coin was minted under the authority of Philip III of Spain (r. 1598–1621), a king whose reign embodied both the magnificence and the fragility of Habsburg power. A monarch more inclined toward courtly leisure than statecraft, Philip delegated much of his authority to favorites such as the Duke of Lerma, under whose influence Spain withdrew from continental wars and instead pursued a foreign policy steeped in religious identity. While the king oversaw relative peace in Europe through the Twelve Years’ Truce with the Dutch Republic, Spain’s reliance on bullion imports from the Americas deepened. The silver of Potosí—where this cob originated—remained the lifeblood of the empire, fueling the machinery of empire even as domestic crises mounted.
The destiny of this coin, however, is inseparable from one of the most famous maritime disasters in history: the wreck of the Nuestra Señora de Atocha. Part of the Tierra Firme fleet, the Atocha was the crown jewel of Spain’s treasure convoys, carrying immense wealth in silver, gold, emeralds, and pearls from the New World to the court at Madrid. On September 6, 1622, just two days after departing Havana, the fleet was struck by a ferocious hurricane off the Florida Keys. The Atocha, heavily laden and unable to maneuver, was driven onto reefs and sank swiftly, taking with it nearly all passengers, crew, and cargo. The ship became a symbol of Spain’s precarious dependence on colonial wealth—its loss a devastating blow to an empire already stretched thin.
For more than three centuries the wreck lay hidden, until its dramatic discovery in 1985 by legendary treasure hunter Mel Fisher, whose relentless search brought to light one of the most spectacular maritime recoveries of the modern age. Coins such as this, still bearing the marks of saltwater corrosion, are both numismatic treasures and tangible relics of Spain’s Golden Age.
Accompanied by its original Fisher recovery tag (85A-125291), though lacking its certificate, this example is a rare assayer combination from Potosí, with a bold strike and handsome preservation that make it particularly desirable. It stands not only as a collectible cob but also as a direct witness to the glittering wealth and tragic loss of the 1622 fleet.1?