Watch List notes:

BOLIVIA. Cob 4 Reales, 1652-P. Potosi Mint; Assayer Antonio de Ergueta (E). Philip IV. PCGS Genuine--Environmental Damage, AU Details.
KM-A18; Cal-1109; Mastalir-1-A.ca1 (this coin illustrated). Weight: 12.53 gms. A splendid and RARE transitional 4 Reales piece with well-preserved detail despite some corrosion and flan cracks. This piece was salvaged from the 1656 Gilt Dragon shipwreck off the western coast of Australia, to which it owes its slightly porous surfaces. The obverse displays the king's initial and ordinal, two denominations, and two assayer's initials arranged around the central pillars. Below, the full date appears. On the reverse, the mintmark, denomination, and two-digit date appear on the sides of the crowned arms. Much of the peripheral legend is intact, including the king's ordinal and nearly unbroken "HISPANIARVM". A choice example of this elegant yet ephemeral design.

In 1652, the Potosi mint underwent a great transition. In the fallout from the Great Fraud of 1649, Spain was forced to take drastic measures to restore global confidence in her silver coinage. After executing or otherwise punishing anyone found guilty or complicit in the fraud, a complete overhaul of the coinage was necessary. The ability to trace deficient coins to a guilty assayer was a top priority, and the crude manufacture at Potosi meant that crucial information on coins, such as dates or assayer's initials, was more often than not muddled or off-planchet. Thus, numerous new designs were trialed in 1652 that all aimed to achieve greater accountability by ensuring that pertinent details would appear on even the most clumsily produced coins. This handsome piece is from the fourth design attempt out of six, before the finalized design was at length settled upon.

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From the Pat Johnson Collection.Ex: Paul Karon Collection (Ponterio 42 - 03/1990) Lot # 339.

Estimate: $1000 - $1500