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1621, Bolivia, Philip III. Spanish Colonial Silver 4 Reales Cob Coin. VF+

Reference: KM-9.
Mint Place: Potosi
Mint Period: 1596-1621
Denomination: Cob of 4 Reales
Condition: Cleaned with traces of dark oxidation (probably sea-salvaged), otherwise VF+
Ruler: Philip III (Felipe III) of Spain.
Weight: 12.64gm
Diameter: 28mm
Material: Silver

Obverse: Cross of Jerusalem with lions and castles in quarters.

Reverse: Coat of Arms of the spanish line of the House Habsburg. Value numeral (IIII) bel annulet (O) to right.

The first coinage of the New World and what comes to mind when we think of Pirate Treasure are pieces of eight. These first coins, often called cob coins, were made from roughly cut planchets (blanks) by striking them with hand dies. The word Cobb comes from a simplification of the Spanish phrase, Cabo de Barra, which translates as, from a bar. After the coins are struck, they are weighed by an assayer who cuts off any excess Silver which is why most coins have some of the impression cut away. Due to this method of manufacturer no two coins are alike and many are collected for their unique shapes alone. The Cobb coin, like anything that is no longer available is becoming very scarce and hence more valuable. The few remaining Coins are the last vintage of the glory days of pirates and Treasure hunting and are fast disappearing into private hands.

Philip III of Spain (Spanish: Felipe III; 14 April 1578 – 31 March 1621) was King of Spain (as Philip III in Castille and Philip II in Aragon) and Portugal (Portuguese: Filipe II).

A member of the House of Habsburg, Philip III was born in Madrid to King Philip II of Spain and his fourth wife and niece Anna, the daughter of the Emperor Maximilian II and Maria of Spain. Philip III later married Margaret of Austria, sister of his cousin Ferdinand II, Holy Roman Emperor. Although also known in Spain as Philip the Pious, Philip's political reputation abroad has been largely negative – an 'undistinguished and insignificant man,' a 'miserable monarch,' whose 'only virtue appeared to reside in a total absence of vice,' to quote historians C. V. Wedgwood, R. Stradling and J. Elliot. In particular, Philip's reliance on his corrupt chief minister, the Duke of Lerma, drew much criticism at the time and afterwards. For many, the decline of Spain can be dated to the economic difficulties that set in during the early years of his reign. Nonetheless, as the ruler of the Spanish Empire at its height and as the king who achieved a temporary peace with the Dutch (1609–21) and brought Spain into the Thirty Years' War (1618–48) through an (initially) extremely successful campaign, Philip's reign remains a critical period in Spanish history.