1715 FLEET SPANISH PHILIPPE V ROYAL 8 ESCUDOS

 

Lot 1110.
Philippe V (1700-1746). Royal 8 escudos (special strike) from the Spanish silver fleet of 1715, Mexico.

Obv. *PHILIPPVS* V* DEI* G* (date)*. Crowned arms of Castilla and Leon, Catalonia, Aragon, Sicilia, Austria, Burgundy, Brabant, Flanders, Tyrol and Bourbon, surrounded by *(mint) (assayer) and *VIII*

Rev. *HISPANIARVM* INDIARVM* REX. Cross potent, lilies in each angle pointing to the center, in a quatrefoil surrounded by four tulips.

Aureo 2196 – Cal.291 – Cayon.9950 – Onza.401 – KM.R57.3 – Fr.7 ; Gold – 27 g – 35 mm – 12h. This is the second highest graded by NGC, the first one graded MS66 and this one MS62, coming from a Spanish silver fleet's wreck of 1715.

NGC MS62 (Shipwreck certification). Big rosettes' variety on the reverse. Letter J for José Eustaquio de Leòn, assayer. Very rare, with only 5 known examples and for a recently discovered date. Assay's traces on the edge with minor marine corrosion on the surface (certified by NGC, coming from 1715 Fleet shipwreck). However, reliefs are specially processed in the die, giving a satin effect to this example, almost in mint state, never having circulated. Uncirculated. Price: 250000 €

This coin is a royal 8 escudos, well-struck, on a prepared planchet, medal alignment, far above the quality of the cob 8 escudos quickly and poorly struck on irregular flans. Only 40 coins of the royal 8 escudos are known for twelve dates between 1680 and 1732 (1695, 1698, 1702, 1711, 1712, 1713, 1714, 1715, 1717, 1723, 1728 and 1723, and maybe 1718 but still non-confirmed). Our specimen is almost perfectly struck, only showing traces of a minimal double-struck, necessary to rise the reliefs of the coin during the manual strike. Due to similar making, the coins dated 1714 and after could have been struck using the screw press, a mechanical process that could explain the different aspect of those late coins.

The few royal 8 escudos known, originally struck for the Royal Court of Spain and for dignitaries, are coming from recent submarine archeological discoveries of the 1715's treasure of the Spanish fleet. On the 24th july 1715, an eleven ships fleet leaves Havana to go north-east, off Florida, before crossing the Atlantic, going to Spain with American treasures such as Peruvian and Columbian objects, precious stones, porcelain, silver and gold coins. Those treasures were sent to Spain to fill the financial pressing needs of the Spanish court.

On the 31st july 1715, the ships encounter a hurricane killing 1500 officers and sailors whereas the shipment is scattered. Survivors inform authorities and a rescue mission is launched to help the shipwrecked and get the treasure back. For months, Spain recovers artefacts and millions of coins, even if pirates harass the operation. In 1718, the rescue mission is ended, considered as a success, even if lots of artefacts and coins are left undiscovered. They are retrieved at the end of the XXth and the beginning of the XXIth century, when 8 out of the 11 ships are recovered on the treasure coast. Sales are set up, after the State of Florida preempts 20% of the discoveries, since 1964. In 2015, 10 royal 8 escudos were retrieved, dated 1711 (7), 1712 (2) and 1715 (1). Those royal 8 escudos are considered as the most beautiful American colonial coins.

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