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Historical Background
Philip II (1556-1598). 1 real. ND (1582-1583). Panama. (Proctor-1R.5B). (Cal-236). . 3,34 g. Shield flanked by oB to the left, with the AP mintmark positioned above the denomination I to the right. A remarkably well-struck specimen for a series renowned for its notably crude fabric: both the shield and cross are complete, and portions of the legend remain legible. A piece that will undoubtedly appeal to collectors of this period and represents an exceptional opportunity to acquire a type that rarely appears on the market. Extremely rare. Certified by NGC as XF Details, Environmental Damage. Only three examples are recorded in the NGC census. In 1579, Philip II authorized the minting of silver coinage in the city of Panama, establishing standards for its composition and design, including the use of the PA mintmark with the superimposed A. Although documentation concerning this mint surfaced in 1952, its existence remained virtually unrecognized by the numismatic community for decades. Recent research by J. Proctor has confirmed that the mint operated between 1580 and 1583, and that the cob issues featuring a crowned shield and the A over P mintmark indeed correspond to its output. These emissions are of extraordinary rarity, with very few specimens known across all varieties. The identity of the assayers is not definitively documented, although it has been suggested that Bernardino Rodríguez may have served in this capacity between 1582 and 1583. Est...9000,00.
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