Mexico, Philip IV, cob 8 Réales, c. 1618-28, Lucayan Beach Treasure, full date not visible, moneyer Diego de Godoy, Mexico City, 26.69g/5h (Cal. Type 319; KM 45). Darkly toned on an uneven flan, good fine and rare; accompanied by presentation box and certificate of authenticity £150-£200

In 1964, a team of divers were working off the Lucayan Beach in the Bahamas when they discovered the wreck of an early 17th century ship. Within the wreckage were 10,000 silver cobs, with the latest dated to 1628. The popular belief is that Dutch Pirates, attributed to the infamous Piet Heyn, attacked a Spanish merchant ship transporting silver from Matanzas Bay, Cuba, back to Europe. The vast majority of coins were recovered in the following months, with items from the wreck emerging on the market by the end of the decade.

212