Rare 1618 Potosí Cob 2 Reales: A Glimpse into the Wealth of a Sunken Empire
This particular coin was part of that legendary haul, as evidenced by its Fisher tag and photo-certificate (85A-177265) and a 2017 appraisal valuing it at $12,600. Its survival in such excellent condition is a testament to the craftsmanship of the Potosí Mint and the careful preservation of artifacts recovered from the wreck.
This stunning Bolivian Potosí cob 2 reales from 1618 is not just a remarkable numismatic artifact but also a tangible piece of one of history's greatest maritime tragedies—the sinking of the Spanish galleon Nuestra Señora de Atocha in 1622.
Features of the Coin
Weighing 6.39 grams, this Grade 1 cob boasts an exceptional full date (1618) and clear assayer's mark (PAL, for assayer Pedro Alvarez de Lugo). Its design features a sharply defined shield on the obverse and a crisply struck cross on the reverse, both emblematic of Spain’s monarchy and Catholic faith. The coin’s attractive toning and near-pristine condition, with minimal corrosion, set it apart from many other salvaged coins.
The Atocha Shipwreck: A Treasure Lost to the Sea
The Nuestra Señora de Atocha was the flagship of a Spanish treasure fleet, tasked with transporting New World riches—including gold, silver, emeralds, and other precious cargo—from the Americas to Spain. In September 1622, the fleet encountered a powerful hurricane near the Florida Keys, leading to the catastrophic sinking of the Atocha and several other vessels.
The loss was devastating: over 260 lives were claimed, and Spain was deprived of immense wealth during a time of economic strain. The wreck remained elusive until 1985, when treasure hunter Mel Fisher and his team discovered the Atocha after a 16-year search. Their efforts unearthed one of the most valuable treasure troves ever found, including gold and silver coins, bars, and priceless artifacts, collectively valued at hundreds of millions of dollars.
Historical Context: A Coin from the Reign of Philip III
Minted during the reign of King Philip III of Spain (1598–1621), this coin reflects the Spanish Empire at the height of its global dominance. Philip III, a Habsburg monarch, oversaw an era marked by imperial expansion, massive wealth influx from the Americas, and political challenges that foreshadowed Spain's eventual decline. Despite his often-criticized reliance on ministers like the Duke of Lerma, Philip III’s reign was pivotal in consolidating Spain's territorial gains and maritime supremacy.
The coin’s origin, the Potosí Mint, was one of the most prolific and significant mints of the Spanish Empire, located near the legendary Cerro Rico ("Rich Mountain") in present-day Bolivia. This silver mountain was a cornerstone of Spain’s wealth, providing vast quantities of silver that fueled European economies and financed Spain’s global ambitions.
A Piece of History
Owning a coin like this is not just about numismatics—it’s about holding a piece of the Spanish Empire’s rich and tumultuous history. This cob 2 reales represents the wealth, ambition, and maritime tragedy of a bygone era, making it a prized addition to any collection.1