BOLIVIA. 7-1/2 Reales, ND (1651-52)-P O. Potosi Mint. Philip IV. PCGS Genuine--Salt Water Damage, EF Details Gold Shield.

KM-C19.2. Weight: 27.99 gms. Crowned "L" countermark in beaded circle applied to the cross side. Despite the light pitting from the time spent under water, this example is still over full weight. Its value is surely enhanced by a full and clear original date of 1649. The consignor notes that this was salvaged from the Nuestra Sonora de las Maravillas (wrecked 1656).
The countermarks were applied to Bolivian pesos and four reales after it was discovered that mint workers had debased them from 0.931 fine silver to as low as 0.750 fine. All the mint officials were replaced and a new design was introduced. The other mints were instructed to countermark the debased pesos in their stock to reduce their value until such time as they could be reminted, which never happened.

Estimate: $360.00-$500.00