Description:This Spanish gold 2 escudos coin was minted in Toledo Spain during the rule of King Philip II, from the House of Habsburg. The obverse of this coin features a Jerusalem cross with crowns in the quarters all within a quatrefoil and the reverse depicts the Philip II coat of arms, with Toledo "T" and assayer "M" mintmarks. During his reign, Spain reached the height of its influence and became the foremost global power. This was the "Golden Age of Spain", with its territories and colonies in Europe, the Americas, Asia and Oceana.
With the discovery of untold riches that were mined in the Americas, the Spanish were the premier supplier of gold and silver coins for the world. This vastly increased trade and made many merchants wealthy, both in Spain and in the Colonies. 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.
Spanish gold coins of this historical period were decreed by the King to be 22 karats and were hand struck from dies and cut to weight. Minted in five denominations, 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.