Description:This is a genuine Spanish gold coin that was minted in the "New Spain" city of Bogota in 1730 - 1744. Santa Fé de Bogotá was founded by the Spanish in 1538 and the mint opened in 1622. The obverse side of this coin features a cross with crowns in the quarters all within a quatrefoil and the reverse shows the King Philip V coat of arms and “M” assayer mark.
Philip V, from the Bourbon Dynasty, was King of Spain from 1700 until his death in 1746. He ruled during a prosperous time for the Spanish Empire and his Bourbon reforms included a major modernization of the Spanish Navy. This enabled Spain's crucial victory in the 1741 Caribbean port Battle of Cartagena de Indias against a massive British fleet and army, allowing Spain to secure its dominance of Spanish America until the 19th century.
Throughout the 16th to 18th centuries, the Spanish and their mighty galleon fleets were the premier supplier of gold and silver coins for the world. However, during this adventurous age, it was inevitable that large amounts of Spanish treasure would be lost on land and at sea due to pirates, storms and other unforeseen misfortunes. Gold coinage of this historical period was decreed by the King to be 22 karats and were hand struck from dies and cut to weight. Minted in five denominations in gold, the largest was the 8 escudos, however the 2 escudos was famous in the colonies and among pirates as a "doubloon.” A common working man at this time would have to work 4 months to earn a single doubloon.