Colombia, Bogotá - Gold Cob 2 Escudos, 1698 ARCE, PCGS MS62 (Finest and Only Known Example in the PCGS Census)
This stunning 2 Escudos gold cob, struck in Bogotá in 1698 under the reign of King Charles II of Spain, represents a fascinating intersection of history, artistry, and tragedy. Certified MS62 by PCGS, it stands as the finest and only example in the PCGS census—a true rarity for collectors and historians alike.
Charles II, known as "El Hechizado" or “The Bewitched,” was the last Habsburg ruler of Spain. His reign (1665-1700) was marked by economic decline, political instability, and war, as the once-mighty Spanish Empire struggled under mounting pressures. Despite Spain's waning global influence, its colonies in the Americas continued to produce vast quantities of gold and silver, fueling Europe’s economies and the ambitions of treasure-seekers for generations to come. The gold cobs minted in Bogotá during this period, like this exquisite piece, were a vital part of that legacy.
Coin Highlights
Weighing 6.73 grams, this exceptional specimen features an excellent full cross, with all four dimple-rings distinctly visible—an uncommon and desirable feature. The bold 1698 date showcases the typical retrograde numerals (6 and 9), a characteristic quirk of the Bogotá mint. The full shield is remarkably sharp, with the three distinctive dots in the lower compartments—a hallmark of coins from this era. Its radiant luster and preservation add to its undeniable appeal.
The 1715 Fleet: Disaster, Wealth, and Rediscovery
This coin is not merely an artifact; it is a survivor of one of the most infamous maritime disasters in history—the 1715 Fleet shipwreck. On July 24, 1715, a fleet of eleven Spanish galleons set sail from Havana, Cuba, loaded with immense treasures from the New World, including gold and silver coins, bullion, and jewels destined for Spain. However, just six days into their journey, tragedy struck. A violent hurricane engulfed the fleet off the east coast of Florida, sinking nearly all the ships and scattering their priceless cargo across the ocean floor.
The 1715 Fleet represents both the hubris and desperation of the Spanish Crown under King Philip V, as it sought to replenish its coffers after years of war and economic turmoil. The treasures aboard these ships were critical for maintaining Spain’s influence and royal ambitions in Europe. Instead, they lay lost for over 250 years, buried beneath the waves until modern treasure hunters began recovering the artifacts in the mid-20th century.
This 1698 Bogotá 2 Escudos was among the treasures reclaimed from the depths—a testament to both the craftsmanship of the Bogotá mint and the enduring allure of the 1715 Fleet’s lost riches.
For collectors, historians, and enthusiasts of shipwreck artifacts, this coin represents an extraordinary convergence of art, history, and adventure. Its rarity as the only PCGS-certified example makes it not just a remarkable piece of numismatic art, but a tangible link to one of history’s most captivating tales of fortune and loss.
Recovered from: Spanish 1715 Fleet, sunk off the east coast of Florida.