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Historical Background
Philip IV (1621-1665). 4 reales. 1652. Toledo. (Y). (Cal-1223). (Jarabo-Sanahuja-C756). . 13,73 g. Mintmark and assayer not visible, but the last two digits of the date are very clear. Part of the king’s name visible on the obverse, and the reverse legend begins at 1 o’clock. Very rare.
Slabbed by NGC as AU 50.
The Toledo mint ceased striking silver and gold coinage in 1641, in the context of declining mining output in Spanish America. However, the pragmatic sanction of 1 October 1650 ordered the reopening of the old Castilian mints —Burgos, Cuenca, Granada, Toledo, and Valladolid— in order to melt down and recoin the “Perulera” silver resulting from the Great Potosí Scandal. In accordance with this decree, the Toledo mint resumed activity on 11 December 1650, which explains the existence of specimens dated 1651.
Although the specific reason for the striking of this 1652 4 reales remains unknown, and only very few specimens are known, it is documented that other mints, such as the Royal Mint of Segovia, continued to recoin “Perulera” reales until early 1653. It is therefore highly likely that this specimen represents a late issue connected with the aftermath of the Potosí Scandal. Est...800,00.
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