Watch List notes:

BOLIVIA. Cob 4 Reales, 1617-P. Potosi Mint; Assayer Juan Sanchez Mejia (M). Philip III. PCGS VF-25.
KM-9; Cal-773. Weight: 13.36 gms. A RARE assayer. Although the assayer and mintmark are off-flan, this remarkable cob can be identified definitively thanks to the inclusion of the date on the reverse. All four digits are at least partially visible, with the final "7" especially clear. Additionally, the denomination mark and King Philip's ordinal are prominently displayed on the obverse, and the lions and castles on the reverse present boldly despite minor die shift. A wonderful piece with pleasing cabinet tone.

In the years preceding the mintage of this coin, the weight and fineness of cobs struck in Potosi had deteriorated dramatically. Due to the massive volume of cobs circulating in Europe and the Americas, this deterioration was a significant blow to Spain's trade interests and made mint reforms at Potosi a pressing necessity. The Crown thus imposed a number of changes on the Potosi mint, including the addition of dates to more easily hold mint officials responsible for upholding production standards. The year 1617 is the first date to appear on cobs of Potosi. Juan Sanchez Mejia, assayer "M", only put his initial on dies during this one year. A wide array of legend varieties were produced in his short tenure at the Potosi mint, evidence of his challenging task of finding a final satisfactory design to comply with the new reforms. To view all items from the Pat Johnson Collection, click here.

From the Pat Johnson Collection.

Estimate: $300 - $500