Description:This is a genuine Spanish silver coin that was minted in the colonial South American mint of Potosi, Peru. Spanish coins, known as "cobs", that circulated in this epic era were hand struck from dies and cut to weight, making each a one of a kind piece of history. Minted in five denominations in silver, the largest was the 8 reales, famous in the colonies and among pirates as a “Piece of Eight”.
With the discovery of untold riches that were mined in the Americas throughout the 16th to 18th centuries, the Spanish and their mighty galleon fleets, became the premier supplier of gold and silver coins for the world. This vastly increased the shipping 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.
The 18th century was a prosperous time for the Spanish Empire as trade grew steadily within its territories in Europe, the Americas, Asia and Oceana. The Bourbon reforms of Ferdinand VI and his father Philip V, 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.