BOLIVIA, Potosí, Cob 8 Reales, Philip III, Assayer T, Partial Date 162(?), “Flat” Lions, Grade 2
**S-P21; KM-10; Cal-Type 165. 23.65 grams.
**
This striking 8 reales cob, struck under the reign of Philip III of Spain, offers a tangible link to one of the most legendary shipwrecks in maritime history: the Nuestra Señora de Atocha, which met her tragic fate in 1622 off the treacherous reefs near present-day Key West, Florida. Minted at the high-altitude royal mint in Potosí, this piece bears the unmistakable signature of Assayer T and showcases a sharply rendered full Habsburg shield crowned boldly at center, complemented by a complete cross on the reverse with a clearly visible partial date, ending in the dramatic "6z"—an echo of the doomed voyage it never completed.

The so-called "flat lions" on the cross, a stylistic trait of the era, speak to the minting quirks of early 17th-century Spanish colonial coinage, when dies were hand-engraved and hammer strikes often imprecise. Despite surviving more than three and a half centuries beneath the sea, this coin maintains remarkable detail and deep toning, with only light surface corrosion—hallmarks of a Grade 2 designation. Its weight of 23.65 grams confirms its integrity and desirability.

Philip III's reign (1598–1621) marked the apex of Spanish imperial wealth and the onset of its slow decline. While the empire was still flush with silver from the Americas, internal decay, military overreach, and courtly extravagance foreshadowed the turbulence to come under his son, Philip IV. The Atocha, part of the famed Tierra Firme fleet, was loaded with the spoils of empire—silver from Bolivia, gold from Colombia, and emeralds from Muzo—when it was caught in a hurricane shortly after leaving Havana.
​
The wreck remained elusive for more than 350 years until treasure hunter Mel Fisher and his team located it in 1985, pulling up a fortune in silver bars, gold coins, and priceless artifacts. This very coin, accompanied by its original Fisher tag and certificate (#85A-158138), was among those long-lost treasures, preserved through time and turmoil to tell the tale of imperial ambition, tragic loss, and triumphant recovery.
​
Click Here to read more about the 'Atocha 1622 Shipwreck'