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<p>[QUOTE=&quot;robinjojo, post: 8280841, member: 110226&quot;]Back in the early nineties a fairly large number of Spanish colonial cobs and 8 escudos entered the market.&nbsp; These coins came from the wreckage of the Nuestra Senora de la Luz (Our LADY of Light), lost in a storm with all hands while in Montevideo in 1752.</p><p><br /></p><p>The silver cobs were primarily from Potosi, Bolivia.&nbsp; The 8 escudos running from 1749 to 1751 included both cobs from Lima, Peru and milled 8 escudos from Santiago Chile.&nbsp; The Chilean 8 escudos, prior to the discovery and recovery in 1992, were very rare.&nbsp; With the entry of the Luz coins, the prices for these coins did drop significantly, affording collectors to obtain them at more affordable prices.</p><p><br /></p><p>This particular coin, a 1751 J Santiago 8 escudos,&nbsp; was purchased from Pat Johnson, Houston, Texas in May 1993 for $1,975.&nbsp; One common feature of these coins is a tendency for the centers to be softly struck.&nbsp; Finding a well struck example back then was something of a challenge to buy without paying an undue premium.&nbsp; Generally, these coins emerged from the watery grave of the Luz in high grade, but more often than not some signs of salvage, such as marks and scrapes.&nbsp; This coin is no exception, with minor scratches on the reverse, but with decent centers detail-wise.</p><p><br /></p><p>KM 3</p><p><br /></p><p>[ATTACH=full]1462469[/ATTACH]</p><p><br /></p><p><br /></p><p>From the Luz, a coin that I&#039;ve posted before, also purchased from Pat Johnson around the same time, is an 8 escudos cob of Lima, 1750 R.</p><p><br /></p><p>KM 47</p><p><br /></p><p>[ATTACH=full]1462474[/ATTACH]</p><p><br /></p><p>So, hop on board and post your cobs and other Latin American coins![/QUOTE]</p><p><br /></p>

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