Denomination: 1 Reales
Description: This coin is a one (1) Reales Spanish Cob. The coin was minted in Potosi during the Reign of Philip IV.
History: The Spanish empire of the 18th and early 19th centuries was the leading producer of most of the world’s coinage. Important Spanish mints and mining operations were then located in Bolivia, Chile, Peru, Columbia, and Mexico. Seventy percent of the world’s gold and silver were produced in the colonies at that time.
Note: Assayer "Q" was found on the Atocha Shipwreck
Spain’s monetary system was so well accepted throughout the world that it became the trade currency of the day. There were several public and private mints in Spain until Philip V, the first Bourbon King of Spain, decided in the 18th century to make minting coinage a State monopoly.
The National mint in Potosi, Bolivia opened in 1572. It was from this mint that most of the silver coins shipped to the Old World were minted.