I think this is a very interesting coin to share with the forum. You do not see these every day. here some info: Segovia, 50 reales cincuentín, Philip IV, 1626, assayer cross-topped A. Reference: CT-239. Cay-6584. Weight: 170.0 grams. Among the many "trophies" of the long and varied Spanish numismatic series are the massive 50 reales or "cincuentines" (known in their time as "monedas excelentes"), effectively the largest Spanish silver coins ever struck, made in very limited quantities throughout the 1600s. The concept appears to have been initiated (or at least encouraged) by the needs of rich Sevillan merchants who were presenting massive quantities of silver (presumably from Peru) to the mint all at once. To make such huge coins required the state-of-the-art technology of a hydraulic steam-press and special roller dies (cuños de rodillo), invented in Germany in the late 1500s and installed in a special mint in Segovia called the Real Ingenio. Very rare and special in their own time, these 50-reales coins are mainly seen at museums. This 1626 specimen is arguably the most common date by virtue of the fact that it had the highest mintage of 300 pieces (of which fewer than 20 are known to exist today), all made for the Marqués de Liche over the course of three weeks, from July 8 to July 28.
These were a specially minted under the approval of the King... I also have to mention that something similar with gold, I do not have a picture but it was a coin with the same background minted in Segovia called centen (100 escudos) if you see one for sale today I do not think it will be less than $ 1M.
Lovely coin but you didn't actually declare whether you are the owner or just have the info. If you are the owner.. I am very envious. Best wishes, Mike.
Hi I'm not the owner... I just happen to have access to many coins since I work with a Spanish Colonial coin dealer, and not only from the inventory we currently have but also pieces we had or have up for the auctions we put together. Saludos Augi
Great stuff. Strictly speaking though, excelentes were an older, and gold denomination. Spanish numismatic scholars hold that the cincuentines were minted primarily for prestige, rather than actual use in transactions. All bullion was subject to being taxed the royal fifths, and nobles possessing bullion on paper (meaning, in terms of grants from the produce of royal mines) could only claim it in the form of coin. For disposable wealth the coins were obviously specified in lower denominations, but for long-term reserve the coins could be ordered in more extravagant sizes. The Real Ingenio was in a sense the actual roller press, and yes, it had been imported by Felipe II from his kinsman, Austrian Archduke Ferdinand. Shipped out from Innsbruck on February 4th 1582, it was the first such minting machine in Spain, which had thitherto merely hammer-struck its coins. The reason for importing the roller press, which was powered by two rivers, the Eresma and the Manzanares, may have originally had little to do with silver or gold coin. Felipe II had wanted a way to inflate the face value of baser, vellón coins wayyyy above melt*, without tempting counterfeiters. The superior quality of strike provided by the Real Ingenio, was correctly deemed difficult for counterfeiters to copy, and kept the vellón coinage safe from such corruption... but I have digressed from the cincuentines of Felipe III. Why 50 reales? At first thought, there might logically have been a silver counterpart to the stupendous centén de oro which as you indicated, had face value of 100 escudos. However, a 50 reales coin of reasonable thickness was very close to the upper limit of what the roller-dies' limited surface area could contain. I have only seen a cincuentín once, and only in a glass case, in Madrid. horge *Vellón coins were properly a much-debased silver. Felipe II and his successors drove the silver content down to nothing, without devaluing the coin. With face so high above intrinsic and manufacturing cost, counterfeiters would have chased after the same lucrative "seigniorage", had not the coins themselves been beyond their illicit art to copy. The story of Spain's experiments in manipulating its vellón money is quite fascinating, and indeed informs modern monetary theory.
Heee heee..... I seem to recall one tale, wherein the Prince of Wales and the Duke of Buckingham were guests of King Felipe IV in Madrid. When the Spanish royals and their guests were waving to a large crowd of Spanish subjects from a balcony, the Englishmen were astonished at the size and beauty of the silver cincuentín coins handed to them, and did not immediately understand that the coins were meant for tossing out to the crowd below. It was an extravagant display, but with a marriage between England's and Spain's royals to be negotiated, the Conde-Duque de Olivares (chief minister to King Felipe IV) planned the gesture to impress upon the guests that THEY were marrying into wealth, and that the dowry should be reasonable. The conde-duque had apparently hedged his bets, too. The crowd nearest to the balcony were said to have been all courtiers, and the large silver coins tossed to them were recollected into the Treasury afterwards. h.
