spanish bronze coin

Started by lusomosa, July 03, 2007, 03:32:29 PM

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lusomosa

Hi there,
can someone tell me something about this coin.
when it was minted and if the mark at the back was placed at the same time as the new date in front ?

Thanks.

the back pic follows next

lusomosa

here's the back.

Figleaf

If the diameter is about 19-20 mm this is KM 21 (hammered), 22 (Valladolid type) or 23 (milled), 4 maravedis 1598-1620. My impression is that it is KM 23. You may find more information on the types here (4th coin from the top).

obv: castle (Castilia) in circle. PHILIPPVS III Dei Gratia OMNIVM - Philip III by the grace of god (legend continued on rev.)
rev: crowned climbing heraldic lion in circle (Leon), HISPANaniarvm REGNORVM REX - reigning king of all (the parts of) Spain.

The coin was counterstamped in the 1630's under Philip IV to increase its value to 6 maravedis. Spain was suffering from runaway inflation, due to large gold and silver imports from South America. Normally, this would have caused an appreciation of the maravedi, lower imports and a return to balance, but as the gold and silver were not paid for either in goods or in money, the imports just increased the money supply, even more so because of the war in the Netherlands and with England. Therefore, prices rose (there was more money to buy the same quantity of stuff). Problem being that Spanish silver coins ruled the world. Therefore, they could not be changed in weight or silver content. The solution was to revalue the copper against silver by counterstamps. This was done at least three times. The additional advantage of this method was that the cost of inflation fell on the poor

Don Pedro makes 100 pesos from his land. Juan, his valet, has a fixed salary of 100 maravedis, paid in 25 copper coins. Now the coins are counterstamped  to increase their value by 50% and Don Pedro may give Juan only 16 copper coins plus a small copper. Don Pedro can buy the same amount of stuff with his income in silver, but Juan will find that prices have risen 50% in terms of copper coins, so his salary will now buy him only half the stuff he could buy before.

Your coin was counterstamped on both sides, on one side with a crowned date, on the other with the new value: VI. These counterstamps were applied at the same time.

This is actually the best counterstamped coin I have ever seen. When the counterstamping began, most copper in circulation was pretty worn. In addition, the counterstamps of subsequent rounds often cover part of the older counterstamp and the coin is no longer identifiable (see the same page the 10th and 11th coin from the top, these are also pretty good coins). This coin is so nice it is surprise it wasn't hoarded, but stamped.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

lusomosa

Thanks for all the information, It was more or less what I had expected, although I had no documentation.
It's diameter is 20,5 mm and it weights 3,25g .
I'm glad to head that you find it a nice coin, I have it on a small box for about 2 years waiting for someone to tell me what it was.
I do agree that for a counterstamped coin, it is a very good condition.
As for Silver coins, were they ever countermarked in Spain ? or did they simply kept on with their silver input from Bolivia/Peru and Mexico ?

lusomosa

small remark :

After looking to your link I agree with you that it must be the milled one. Thus KM23.

Many thanks.

LP

translateltd

I posted a link to a couple of very worn examples that I own a couple of weeks ago.  I can't remember which thread it was in, though :-(

Rangnath

LP,
How did you acquire the coin?
Richie

lusomosa

Hi richie,

My father has been collecting and trading coins for about 50 years in Lisbon and every time I go back home he has all sorts of coins that friends of him arranged as lots for him. Among Portuguese coins there are always others that are LESS INTERESTHING for him and his fellow traders . This coin was such an example, he did not know any more how he got it and just gave it to me to find out what it was....
Very often he gives me coins for my children but I end up kipping them for my self !!!!!

Figleaf

#8
@lusomosa, in case you decide not to keep them, don't forget there's a nifty trading board on this site ;D

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

lusomosa

thanks for the tip I'll keep it in mind

LP

Rangnath

LP,
Because I love coins, I consider you lucky indeed. My father limited his collecting to stamps!
Richie

lusomosa

you know what Richie,

As a child I got so many coins from my father that I didn't consider it to be speciall , I thoght ALL kids were getting coins from all over the world from their dad's.
I collected stamps because my father didn't and I could search my self for something.
Ofcourse when my father gave me all the stamps he had ( my father keeps everything he gets, and they were a lot ) and started giving me kilos of stamps , I though : now I have enough !!!
I still bought some older stamps but I actually stopped collecting for abuot 8 years. ( there were professional and personal reasons behind as well ).
It was later due to my interest in History, that I ( on my onw ) started collecting coins.
My father was really happy and now he really helps me a lot with my collection and I enjoy it with together with him.

All the best,

LP