Private Collection Spanish Cob - 8 Reales - Assayer "B" (1591-1610) - Atocha Era
$3,800
Denomination: 8 Reales
Reign: Philip II
Mint: Potosi, Peru
Assayer: "B" Ballesteros (1591-1610) Ballesteros was documented working in the Potosi Mint (in an unspecified role) as early as 1575. His purchase of the Assayer's Office was formally accepted in 1591. He is considered an Assayer of "Early Atocha" coins.
Grade: NGC XF Details (2888503-001)
Weight: 27.30 gm
Mounted: Sterling Silver with 14K prongs, emerald placed in hole.
Description: 8 Reales Spanish cob (holed). Obverse: Greek cross with raging lions and castles in four quadrants, all boldly struck. Clear legend around the coin. Reverse: Hapsburg shield with crown above clearly visible. Mint mark "P" and Assayer "B" clearly visible.
History: Early cob coins, produced before the Reign of King Phillip III were well-rounded and neatly struck. They were produced at the New World Mints in Lima, Potosi, Colombia, and Mexico City. When the mints first opened under the Spanish crown, the mint master took great pride in the quality and condition of each hand-struck coin. A great deal of time and attention to detail was spent on hand-engraving steel dies used to strike each coin, with symbols significant to the geo-political landscape of that time period. The special attention to detail was costly due to the number of steel dies used impress the symbols seen on Spanish cobs, and the time taken to engrave near perfect dies. The ability to create a near perfect coin was considered a sign of great respect for the sitting King. The Potosi Mint was historically located in the Viceroyalty of Peru. The "P" Mint Mark stands for "Peru" and was used by this mint from its opening in 1575 until it's closing in 1825. Spain continued to exploit the mine's riches for four hundred years, making the country a central world bank. The city's Coat of Arms reads: "I am rich Potosí, treasure of the world, king of all mountains and envy of kings.”
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