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Struck and trimmed by hand in the 16th through 18th centuries at Spanish mints in Mexico, Peru, and Colombia (among others), silver and gold Macuquinas (cobs) are handsomely crude, nearly all with a cross as the central feature on one side and either a coat-of-arms (shield) or a tic-tac-toe-like "pillars and waves" on the other side. Silver ...
Silver coins of the 1572 type were minted with PHILIPVS IV and a 1/2-real cob was added to the usual 1, 2, 4, and 8-real denominations. There were major gold deposits in Colombia; a mint opened at Santa Fe de Bogotá in 1620, and it produced the first gold coins (cobs) in Spanish America in 1622.
After 1732 similar, but better shaped cobs were produced on screw presses. Cob denominations were 1 ⁄ 2, 1, 2, 4, and 8 reales. When circulating in New England the larger coins might be cut to give intermediate values; since a real was nicknamed a "bit", the expression "two bits" came to mean a quarter dollar. [2]
Gold coins were issued in denominations of 1 ⁄ 2, 1, 2, 4 and 8 escudos, with the 2 escudos coin known as the doubloon. Between 1809 and 1849, coins denominated as 80, 160 and 320 reales (de vellon) were issued, equivalent, in gold content and value, to the 2, 4 and 8 escudo coins.
The tradition is also followed, with varying names and customs, in other countries and communities bearing degrees of Hispanic influence. [2] Traditionally, in Spain and Latin America, it is made up of thirteen gold coins [1] [3] presented in an ornate box or chest; in the Philippines, it is in an ornate basket or pouch.
The doubloon (from Spanish doblón, or "double", i.e. double escudo) was a two-escudo gold coin worth approximately four Spanish dollars or 32 reales, [1] and weighing 6.766 grams (0.218 troy ounce) of 22-karat gold (or 0.917 fine; hence 6.2 g fine gold). [2] [3] Doubloons were minted in Spain and the viceroyalties of New Spain, Peru, and New ...