Spanish Gold 2 Escudos - Dated 1779 - Mint: Popayan, Columbia

Denomination: 2 Escudos                                           Reign: Carlos III Date: 1779    

Weight: 6.7668g                                                          Mint: Popayan, Columbia

Assayer: "SF" (1776-1791) Stanislao Delgado - Francisco Fernando de las Caxigas

Grade: NGC 6680207-011 - AU 50

Mount:  18K Flatware with .12ct(2.2mm) diamond accent on bale

Description: Charles III gold 2 Escudos 1779 P-SF AU50 NGC. A scarcer issue retaining glossy outer peripheries despite the assigned grade. Obverse: Bust of Carlos III surrounded by legend. Date below. Latin lettering: (CAROL·III· D·G·HISP· ET IND·R· 1179). Translation: "Carlos III by the Grace of God King of Spain and the Indies".  Reverse: Coat of arms with Order chain surrounded by legend. Latin lettering "{·IN·UTROQ·FELIX· ·AUSPICE·DEO·2 SP··SF. Translation: "In one and the other world happy under God's eye" 

History: In 1712, the Crown sent the New Kingdom of Granada a royal decree that consulted the need and convenience of establishing a new mint, this time in Popayán; dated June 29, 1729. However, it wasn’t until 1749, when the king responded to an offer made by Pedro Agustín de Valencia and granted him authorization to establish the Mint (Casa de Moneda), appointing him Treasurer and with the power to choose the first accountant, cutter, and balance judge. The Viceroy, concerned that he was in breach of royal regulations, ordered suspended work in May,1752.  Finally, on the February 8th, 1758, the first coin was minted and it was a two escudos.