Top Pop — an outstanding specimen, featuring a sharp strike and vibrant Mint luster.
Macuquina (Cob) issue.
Rectified assayers mark Iº/IM.
Obv.: Crowned coat of arms; assayer’s initial above ‘aqueduct’ mintmark on the left, value IIII on the right; “PHILIPPVS·II·DEI·GRATIA”.
Rev.: Arms of Castile and Leon, in octolobe; “+HISPANIARVM REX”.
Calicó 355.
A Numismatic and Historical Journey into the Segovia 4 Reales Cob of Philip II
The silver 4 Reales coin from Segovia, struck during the reign of Philip II of Spain (1556–1598), is a captivating example of the macuquina or "cob" coinage that powered Spain’s global empire. Graded NGC AU 58, this well-preserved coin, with its distinctive "aqueduct" mintmark and rectified assayer’s mark, offers a glimpse into the economic and cultural might of 16th-century Spain. Minted in Segovia, a historic city renowned for its Roman aqueduct, this coin reflects the intersection of local pride and imperial ambition during the reign of the "Prudent King."
Numismatic Description
Cataloged as Calicó 355, this 4 Reales cob embodies the rugged charm of macuquina coinage, characterized by its irregular, hand-struck shape. The obverse displays a crowned coat of arms, symbolizing the unified kingdoms of Castile and León under Habsburg rule. To the left, the iconic "aqueduct" mintmark—a nod to Segovia’s famous Roman aqueduct—sits below the rectified assayer’s mark "Iº/IM," indicating a correction or transition between assayers, a fascinating detail of minting practice. To the right, the denomination "IIII" (4 Reales) is clearly marked. The inscription “PHILIPPVS·II·DEI·GRATIA” (Philippus II, by the Grace of God) encircles the design, affirming royal and divine authority. The reverse features the arms of Castile and León—alternating castles and lions—within an octolobe frame, paired with the legend “+HISPANIARVM REX” (King of the Spains). Graded AU 58, the coin’s sharp details and minimal wear highlight its historical significance and careful preservation.
Historical Context
Philip II’s reign marked the zenith of Spain’s Golden Age, with an empire spanning the Americas, Europe, and Asia. The Segovia mint, though smaller than Seville’s, played a vital role in processing silver from New World mines, such as Potosí and Zacatecas, into coins that fueled global trade. The 4 Reales, a substantial denomination, was a key unit of currency, widely circulated in Europe and beyond as a precursor to the famed "piece of eight" (8 Reales). The undated nature of this coin, typical of many cobs, reflects the practical demands of rapid minting to meet the empire’s economic needs.
Segovia, a historic city in central Spain, was not only a minting center but also a symbol of Castilian heritage. Its aqueduct, a marvel of Roman engineering, became the mint’s emblem, proudly displayed on coins like this 4 Reales. The rectified assayer’s mark "Iº/IM" suggests a transition in mint oversight, possibly due to a change in personnel or an effort to maintain quality control. Such marks are a window into the meticulous, yet sometimes chaotic, operations of Spanish mints during an era of unprecedented silver influx.
Cultural and Economic Significance
This 4 Reales cob is a testament to Spain’s economic dominance and cultural identity in the late 16th century. The crowned arms and Castile-León symbols reinforced the legitimacy of Habsburg rule, uniting Spain’s disparate kingdoms under a single monarch. The octolobe frame, a stylistic flourish, added visual distinction to the coin, while the aqueduct mintmark celebrated Segovia’s unique heritage. These elements together projected both imperial power and local pride.
Economically, cobs like this one were the backbone of Spain’s global trade network. They circulated in markets from Amsterdam to Manila, where Spanish silver was the preferred currency for international commerce. The Segovia mint, though less prolific than Seville or Toledo, contributed to this vast economic system, producing reliable silver coins that underpinned Spain’s wars, colonial administration, and trade. The rectified assayer’s mark underscores the importance of accountability in minting, as assayers guaranteed the coin’s silver content in an era when trust in currency was paramount.
Conclusion
The Segovia 4 Reales cob of Philip II, graded NGC AU 58, is a striking artifact of Spain’s imperial golden age. Its hand-struck form, aqueduct mintmark, and rectified assayer’s mark tell a story of craftsmanship, local identity, and global influence. Minted in a city steeped in history, this silver coin reflects the economic engine that powered Spain’s empire and the intricate balance of royal authority and regional pride. For numismatists and historians, it remains a tangible link to Philip II’s reign and the vibrant, complex world of 16th-century Spain.
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