796

Potosi, Bolivia, cob 8 reales, 1648 R, extremely rare.

Currency:USD Category:Coins & Paper Money / Cobs - Potosi Silver Start Price:2,500.00 USD Estimated At:5,000.00 - 10,000.00 USD
Potosi, Bolivia, cob 8 reales, 1648 R, extremely rare.
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This item SOLD at 2023 Nov 02 @ 21:58UTC-4 : AST/EDT
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Potosi, Bolivia, cob 8 reales, 1648 R, extremely rare. S-P31; KM-19a; Cal-unl. 26.95 grams. Despite its crudeness, this is a significant coin, as the date is full and clear outside a full cross-lions-castles, and the assayer R is reasonably clear (enough to confirm it is not T or Z, the only other possibilities) below bold mintmark to left of full shield, low-contrast Fine with edge-crack. Assayer R was Felipe Ramirez de Arellano, who was famously executed for his role in the debasement scandal that undermined reliance on Spanish silver and caused a massive devaluation and redesign. It is even arguable that this coin is superior to the two other examples we have handled: lot 908 in Sedwick Auction 15 (hammered at $8100), which we described at the time as "probably the finest example known for this assayer"; and lot 833 in Sedwick Auction 19 (hammered at $3350).