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Description: This coin was recovered from the wreck site of the Spanish Treasure Flotilla which was lost in the terrible hurricane of July 31, 1715 off the east coast of Florida. This coin was recovered over 265 years later by Cobb Coin Company, Inc.
Much of the bullion from the mints of the new World was sent to Spain in the form of coinage referred to as “Cobs”. Pieces of gold or silver of approximate size of the intended denomination were chopped form the ends of flat bars of refined bullion. They were trimmed to the requisite weight, heated and hand-hammered between crudely engraved dies. The rough surface and irregular circumference of the blanks prevented well defined strikes. Consequently the legends are frequently missing or only partially visible. The Spanish authorities were uncovered with the shape of the coins, or the visibility of the date. The important features of the coins were the mint and assayer’s mark, as they guaranteed the fineness of the metal and the proper weight. The penalty for not showing these marks was severe.
Silver coins are called “Reales”. During this period the coins were struck in denominations of 8, 4, 2, 1, and ½ Reales.