Watch List notes:

BOLIVIA. Cob 4 Reales, 1651-P. Potosi Mint, Assayer Antonia de Ergueta (E). Philip IV. PCGS VF-35.
KM-17B; Cal-1108; Sellschopp-545 (plate coin); KM-C17.2 (for countermark). Weight: 13.62 gms. A particularly refined 4 Reales piece, presenting deep cabinet toning and handsome detail. The obverse presents a sharp mintmark and assayer's initial beside the Habsburg crown, over which a crowned "F" countermark has been applied, revaluing the piece to 3 3/4 Reales. The well-centered reverse does not include any peripheral legends, it presents attractive castles and lions which are mostly unaffected by the stamp on the opposing side. A coin with tremendous eye appeal, RARE in this condition and free from the saltwater corrosion that plagues this issue.

The counterstamping of coins from 1649 to 1651 was intended to be a temporary solution. Although they were made from higher quality silver than the preceding issues, they were struck with the old, outdated design that global commerce had lost faith with. Thus, the authorities meant to melt them down and restrike them shortly after. It is only because of the discovery of two shipwrecks carrying vast quantities of these countermarked issues that they are well-documented today. Countermarked issues that were not salvaged from the sea, such as this one, are therefore quite rare. To view all items from the Pat Johnson Collection, click here.

From the Pat Johnson Collection.Ex: Ernesto Sellschopp Collection (Swiss Bank Corp - 09/1988) Lot # 708.

Estimate: $1000 - $1500