Note from Robert: Due to the size, possibly part of someone's personal cache. Rare denomination - less than 10% of the coins minted at this time were 1 reales. The majority were the large 8 reales.
Most of the coins recovered from "The Fleet" were minted in Mexico City and were the large eight reales. In comparison, Potosi, mint coins are extremely rare, especially with a "89" date on its lower left edge on the Pillars and Waves side. This one has a really nice full Pillars and Waves and "PLUS ULTRA" ("More Beyond the Pillars of Hercules"), and "P" mint mark
Shipwreck 1 reales like this one are rare as it is - these small coins are at the mercy of the ocean unless they are protected either in a conglomerate ("clump") of coins that was once a treasure chest, or attached to an "EO" (Encrusted Object usually containing iron objects that were part of the ship's fittings, and act as a sacrificial metal, protecting the coin from the harsh salt and heavy wave action environment).For more on the 1715 Fleet, click here>
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