Colonial Acres Coins
SKU: SKU:AC-0387
Bolivia 1500s Potosi Mint Cob 8 Reales VF-EF (VF30)
Bolivia 1500s Potosi Mint Cob 8 Reales VF-EF (VF30)
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$522.50
Regular price
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Bolivia 1500s Potosi Mint Cob 8 Reales VF-EF (VF30)
The Potosí Mint cob 8 reales of the 1500s is one of the most iconic and historically significant Spanish colonial silver coins. After the discovery of the massive silver deposits at Cerro Rico (“Rich Mountain”) near Potosí in present-day Bolivia in 1545, Spain established the Potosí Mint in 1574 to process the vast quantities of silver being extracted. The 8 reales, often called the “piece of eight”, was the largest denomination and became the world’s first truly global currency, widely used in Europe, the Americas, and Asia via trade routes such as the Manila Galleons.
The early issues were cobs—irregularly shaped, hand-struck coins produced quickly to keep up with the enormous demand. They were typically marked with the royal arms of Spain on one side and a cross with lions and castles (representing León and Castile) on the other, along with mintmarks, assayers’ initials, and denomination where space allowed. Because of their crude, “chopped” appearance, cobs were valued more for their silver content than their artistry.
The Potosí Mint cob 8 reales of the 1500s is one of the most iconic and historically significant Spanish colonial silver coins. After the discovery of the massive silver deposits at Cerro Rico (“Rich Mountain”) near Potosí in present-day Bolivia in 1545, Spain established the Potosí Mint in 1574 to process the vast quantities of silver being extracted. The 8 reales, often called the “piece of eight”, was the largest denomination and became the world’s first truly global currency, widely used in Europe, the Americas, and Asia via trade routes such as the Manila Galleons.
The early issues were cobs—irregularly shaped, hand-struck coins produced quickly to keep up with the enormous demand. They were typically marked with the royal arms of Spain on one side and a cross with lions and castles (representing León and Castile) on the other, along with mintmarks, assayers’ initials, and denomination where space allowed. Because of their crude, “chopped” appearance, cobs were valued more for their silver content than their artistry.
