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Estimate $450
Bid at live.noble.com.au
SOLD $420
BOLIVIA, Philip IV (1621-1665), cob eight reales, countermarked crown in circle, type c.1651, host coin dated c.1650, Potosi mint, Assayer O, (26.1 gms), (Cal.497 [without countermark], KM.C19.1). Struck with usual weak areas, off centred on obverse, light silver colour tone, generally good fine and a very rare countermark on only this coin type.
Ex. `Maravillas' wreck. This and the next few countermarked issues are interesting, Krause briefly states 'The problems of the general debasing of the coinage struck at Potosi came to a head in 1651 forcing the Royal government in Madrid to order investigations and a recall of coinage. A program was instituted whereby 8 and 4 reales coins dated 1649-1651 were recalled and either melted down or revalidated for circulation at lower values. This program coupled with a redesign of coinage for 1652 and a return to traditional standards enabled Potosi to overcome the general lack of public confidence. The countermarks served to devalue the host coins circulating value from 8 reales to 6 reales (a similar change in 4 reales coins to 3 reales also was initiated).' The nine coins in this collection represents the largest selection of this type with countermarks sold in this country and possibly in the world. A single example sold in our sale No.31 in March 1990 (realised $2100) was the only previous example that this cataloguer has seen sold in Australia.
Estimate / sale price does not include buyer's premium (currently 22% including GST) which is added to hammer price. All bids are executed on the understanding that the Terms & Conditions of sale have been read and accepted. For information on grading and estimates please refer to the Buying at Auction advice.
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Adjacent lots
Lot 2937
BOLIVIA, Philip IV (1621-1665), cob two reales, dated, [16]52 (once), Potosi mint, (6.1 gms), Assayer ...
Estimate $350
Lot 2938
BOLIVIA, Philip IV (1621-1665), cob four reales, dated, [16]53 (once), Potosi mint, (10.8 gms), Assayer ...
Estimate $300
Lot 2939 This lot
BOLIVIA, Philip IV (1621-1665), cob eight reales, countermarked crown in circle, type c.1651, host coin ...
Estimate $450
Lot 2940
BOLIVIA, Philip IV (1621-1665), cob eight reales, countermarked crown in circle, type c.1651, host coin ...
Estimate $450
Lot 2941
BOLIVIA, Philip IV (1621-1665), cob eight reales, countermarked crown/L type c.1651, dated 16XX, Potosi mint, ...
Estimate $400