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Denomination: Spanish 2 Escudo "Doubloon", Dated: 1783
Grade: AU "Almost Uncirculated", Monarch: Charles III
Mint: Popayán, Colombia
Obverse: Bust of Charles III, Reverse: Royal Coat of Arms
22k Gold Coin in 14k Gold Pendant
Framed Coin Size: 26mm Diameter, Weight 11g
Description:
This colonial coin was minted in the city of Popayán, Colombia which was founded by the Spanish conquistador Sebastián de Belalcázar in 1537. Popayán was a very important transfer point of gold and riches between Lima and Cartagena on the way back to Spain. The town also served as a colonial mine producing its escudo gold coins from 1760 through 1819.
This 2 escudo or "doubloon" was minted during the reign of Charles III, who was the King of Spain from 1759 to 1788. It was under Charles' reign that Spain began to be recognized a nation rather than a collection of kingdoms and territories. During this period, the Spanish had a great rivalry with Britain which led Charles to support the Americans in the revolutionary war. The obverse of this coin features the armored and draped bust of Charles III and the reverse depicts his royal crowned coat-of-arms within collar of the order of the Golden Fleece.
With the discovery of untold riches that were mined in the Americas, Spain was the premier supplier of gold and silver coins for the world during the 16th -18th centuries. Spanish gold coinage of this historical period were minted according to weight and were decreed by the King to be 22 karats. This 2 escudo was around 4 months wages for a common worker in the 18th century.