1820 PTS PJ SILVER BOLIVIA 8 REALES NGC ABOUT UNC 58 FERDINAND VI

Description

REIGN OF FERDINAND VII "THE DESIRED" "THE TRAITOR KING" (1808 ASCENDED & ABDICATED, RESTORED 1813-1833) -
HOUSE OF BOURBON
SILVER EIGHT REALES CERTIFIED BY NGC ABOUT UNCIRCULATED 58
OBV:
DRAPED AND LAUREATE BUST OF FERDINAND VII OF SPAIN RIGHT; DATE BELOW.
REV:
CROWNED ROYAL ARMS OF BOURBON SPAIN FLANKED BY COLUMNS (THE PILLARS OF HERCULES) ENTWINED WITH MOTTO BANNERS.
KM # 84
MOST OF THE SILVER SHIPPED THROUGH THE LEGENDARY SPANISH MAIN CAME FROM THE FABLED MINES OF
POTOSÍ
. THE NAME ITSELF IS SAID TO HAVE BEEN USED AS A PHRASE IN
DON QUIXOTE
TRANSLATING TO "EXTRAORDINARY RICHNESS." THE MINT WAS ESTABLISHED IN 1672 TO COIN THE SILVER, AND 41,000 METRIC TONS OF PURE SILVER WAS RECORDED TO HAVE BEEN MINED FROM 1556-1783 (8,200 METRIC TONS GOING TO THE SPANISH CROWN). THE VAST WEALTH ATTRACTED MANY FORTUNE SEEKERS, AND THE NEED FOR LABOR INCREASED THE IMPORTATION OF SLAVES. POTOSÍ
GREW TO BE ONE OF THE LARGEST AND WEALTHIEST CITIES IN THE WORLD.
THIS COIN WAS MINTED FROM SILVER MINED IN THE CERRO DE POTOSÍ, ALSO CALLED THE
CERRO RICO
(RICH MOUNTAIN), CLOSE TO THE DEPLETION OF THE MAIN SILVER DEPOSITS. IT WAS STRUCK AT THE FABLED POTOSÍ MINT JUST FIVE YEARS PRIOR TO THE ESTABLISHMENT OF THE REPUBLIC OF BOLIVIA. IT IS A "SPANISH DOLLAR"
MILLED BUST TYPE COIN, THE FIFTH AND FINAL SPANISH COLONIAL SILVER 8 REALES DESIGN, MACHINE STRUCK ON A LARGE FULL-SIZE PLANCHET.
FERDINAND VII
(1784-1833), WAS FORCED TO ABDICATE BY NAPOLEON IN FAVOR OF THE EMPEROR'S BROTHER, JOSEPH BONAPARTE. AFTER FRENCH SETBACKS IN THE PENNINSULAR WAR (1808-1814), NAPOLEON ACKNOWLEDGED FERDINAND AS KING OF SPAIN IN 1813.
SPAIN HAD FOUGHT IN THE NAME OF THE KING FOR INDEPEDENCE FROM FRANCE, BUT THE SPANISH AMERICAN COLONIES FOUGHT AGAINST COLONIAL OPPRESSION AND FREEDOM FROM THEIR SPANISH MASTERS.
FERDINAND'S BRUTAL AND ABSOLUTIST REGIME LED TO A REVOLT IN SPAIN AND CIVIL WAR, BY 1825 MUCH OF LATIN AMERICA HAD FREED ITSELF FROM SPANISH RULE, THE REPUBLIC OF BOLIVIA HAD BEEN DECLARED AND THE LEGENDARY SILVER MINES OF POTOSI PASSED FOREVER OUT OF THE HANDS OF SPAIN.
COIN CONTAINS 27.0674 GRAMS OF .896 FINE SILVER (.7797 OZ ASW)
38 MM IN DIAMETER
POTOSÍ MINT
ASSAYERS "P" & "J"
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