Mint Scandal to Transition at Potosi - Capitana Wreck

[divewrecks]

One of the most interesting episodes in cob history involves the Potosi mint scandal and the subsequent countertsamps and transition to the pillar & wave design coins ordered by the king to restore world confidence in Spanish coinage.

In the thread "Ebay Picks" I posted two of the coins just listed by TNet member Mackaydon (Don). He was directly involved with the salvage of these coins from the Capitana, certainly the biggest single source of the great multitude of coin variations produced during the transition. I thought the transition coins and counterstamp varieties would be an excellent discussion topic here and hence, this post.

Some great resources for the study of transition coins are these three references ("borrowed" from sunken treasurebooks.com):

Menzel, Sewall H.
The Patois Mint Scandal and Great Transition of 1652
Comments: Includes a bibliography; illustrated
Size: 5.5” x 8.5”
Pages: 37
Editions: The first edition (not stated) was published by EN RADA Publications, West Palm Beach, Florida (1995) in paperback. This was scheduled to be reprinted in 2004.
Description: This pamphlet details the fraudulent coinage at the Patois mint in the mid-1600's, with as much as 30% copper added to the silver, and the subsequent devaluation of these coins.

This pamphlet is also a part of the following book:

Menzel, Sewall
Cobs, Pieces of Eight and Treasure Coins: The Early Mints and Their Coinages 1536-1773
ISBN/ISSN: 0897222849
Comments: Includes a bibliography; Illustrated
Size: 8.75” x 11.25”
Pages: 484
Editions: The first edition (not stated) was published by The American Numismatic Society, New York City (2004) in hardback with a dust jacket.
Description: This book is one of the great works for the shipwreck coin collector. With more than 2000 illustrations, this book includes coins produced at the Mexico, San to Domingo, Peru, Patois, Panama, Santa Fe DE Nuevo Reino (Bogota), Cartagena, Cuzco, Guatemala and Cuba mints. Coins are identified by mint, king, denomination, mint assayer and type.

Ponterio & Associates, Inc.
La Capitana - Sale #99
Contents: Coins
Shipwreck(s): La Capitana
Comments: Auction held on April 10, 1999 in Rosemont, Illinois
Size: 8.5” x 11”
Pages: 64
Publisher: Published by Ponterio & Associates, San Diego, California (1999) in paperback.
Description: This auction catalog includes 97 lots of 8 Reales cobs, 46 lots of 8 Reales Klippes, 232 lots of 4 and 8 Reales Pillar Dollars, one 1728 8 Reales royal, and 2 lots of silver ingots from the Dutch East Indiaman, "Rooswijk", which sank in 1739. The catalog also includes a history of the wreck and an article on the transitional 8 Reales of Philip V struck at the Mexico City mint during 1732-1734.

I couldn't find a good web reference to make one really appreciate the whole scandal that precipitated the transition, so one of the above sources is recommended. Here are a couple of links from Sedwick that discuss countermarks and the Capitana wreck:

Information on countermarked cobs is here:
http://www.sedwickcoins.com/articles/countermark.htm

Information on the Capitana wreck is here:
http://www.sedwickcoins.com/shipwreck_histories/capitana.htm

And finally, here are Don's coins for sale.

http://cgi.ebay.com/Cob-Coin-1651-Potosi-Capitana-8-Reales-Counterstamp-/330450329134
http://cgi.ebay.com/Cob-Coin-1653-Potosi-Capitana-8-Reales-Pillars-Waves-/330450354957
http://cgi.ebay.com/Cob-Coin-1650-Potosi-Capitana-8-Reales-Countestamp-/330450304934

Stan

 

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[goldcoastwayne]

Stan,

Looks like a great study....I will definitely look into it deeper. Thanks for sharing and I think this will be a very interesting thread.

Sedwick's summation was very interesting on this matter (as pointed out by Stan)..an excellent article.

Information on countermarked cobs are here:
http://www.sedwickcoins.com/articles/countermark.htm

goldcoastwayne

 

[divewrecks]

I love Capitana transition coins. Here are two more listed today by another seller. Too bad they were over cleaned a bit....

http://cgi.ebay.com/Spain-8-Reales-1653-Potosi-La-Capitana-/220636067879
http://cgi.ebay.com/Spain-8-Reales-1651-C-M-L-7-1-2-reales-La-Capitana-/220636067567

Stan

 

[Mackaydon]

Stan:
Many thanks for the kind words.
Actually, the catalogue for our Capitana auction contained 19 lots of shields and crosses, 215 lots of the countermarked issue of 1652, 33 lots of the 1652 transitional issue, 161 lots of pillars and waves, one gold 2-escudo cob and 133 lots of multiple coin lots.

Also from that catalogue Louis Ullian (God rest his soul), an original 'Real Eight' member (and one of my partners in the Capitana salvage) stated, "These sea salvaged coins are among the finest I've ever seen and (in) many cases there is no indication of their having been on the bottom of the ocean for three and a half centuries."

If anyone has an interest in more Capitana 8Rs, counterstamped or not, feel free to PM me.
Don.....

 

[divewrecks]

This is the Ponterio Auction catalog we are speaking about. Somebody with an interest should pick up this copy from Alan for $30:

http://www.workmansbooks.com/Catalogs/Treasure/WB20090501197C.htm

Stan

 

[divewrecks]

Almost certainly from the Capitana....
http://cgi.ebay.com/1651-52-POTOSI-MINT-7-1-2-REALES-ASSAYER-CROWN-L-C-S-/280536144159

And one that is certified as being so....
http://cgi.ebay.com/Cob-Coin-1650-Potosi-Capitana-8-Reales-Countestamp-/330452832319

Stan

 

[capt dom]

For all you Transitional 1652 aficionados
Take a look at this "special piece" in a clump
to be auctioned off in the Heritage Auction in Boston
in August!

 

[capt dom]

To find out more about this special clump click upon the link below:

http://coins.ha.com/common/view_item.php?Sale_No=3010&Lot_No=20232#photo