1742, Bolivia, Ferdinand VI. Silver 2 Reales Cob Coin. Full date! NGC VF+

Mint Year: 1742
Mint Place: Potosi  
Denomination: 2 Reales  
References: Cal. 510, KM-29a. ($240 in VF!).  
Condition: Certified and graded by NGC as VF (Details: Reverse Damage!)
Material: Silver (.917)
Weight: ca. 6.7gm  
Diameter: 25mm  

Obverse: Pillars of Hercules, denomination (2) above,   flanked by mint initial (P) and assayer letter ([P]), date (742 for 1742) below.
Legends (PLV-SVL-[TRA]) across fields.  

Reverse: Cross of Jerusalem with lions and castles in quarters. Assayer letter (P) to left and date (742 for 1742) below.

 

The first coinage of the New World and what comes to mind when we think of Pirate Treasure are pieces of eight. These first coins, often called cob coins, were made from roughly cut planchets (blanks) by striking them with hand dies. The word Cobb comes from a simplification of the Spanish phrase, Cabo de Barra, which translates as, from a bar. After the coins are struck, they are weighed by an assayer who cuts off any excess Silver which is why most coins have some of the impression cut away. Due to this method of manufacturer no two coins are alike and many are collected for their unique shapes alone. The Cobb coin, like anything that is no longer available is becoming very scarce and hence more valuable. The few remaining Coins are the last vintage of the glory days of pirates and Treasure hunting and are fast disappearing into private hands.

 

Ferdinand VI, (23 September 1713 - 10 August 1759), King of Spain from 9 July 1746 until his death. He was the fourth son of the previous monarch Philip V and his first wife Maria Luisa of Savoy. Ferdinand, the second member of the Spanish Bourbon dynasty, was born in Madrid on 23 September 1713.