PHILIP V (1700-1746). 8 Reales. (Ar. 26.97g/40mm). 1733. Mexico MF. (Cal-2019-1439). plain crown. Extremely Fine. Rare and beautiful specimen. Preserving part of the original shine and with a slight iridescent tone.
Ex Áureo & Calicó 317, Gaspar Portolá Collection 10/17/2018, Lot No. 5.
Founded in May 1535, when Antonio Mendoza was Viceroy of New Spain, the Mexican Mint became the first American Mint. For two centuries it operated as a concession to individuals until, in 1733, it was incorporated into the Real Treasury, beginning a period of splendor that made it the reference mint of the Spanish crown in overseas territories. The notable increase in coinage became evident practically from the beginning of its assimilation by the Real Treasury. In 1772, the old macuquina coin was withdrawn at the same time as the minting of the so-called "bust" types in both silver and gold began. Between 1772 and 1783, an annual average of 18 million pesos was minted, an amount that gradually increased over the decades, with the highest mintage occurring in 1804 and 1805, already under the reign of Carlos IV. 1810 marks a turning point, decreasing the average annual minting and between 1811 and 1815 the decline begins, which, although with a slight upturn in 1816, heralds the end of the splendor of this House. It is curious that, despite the massive amount of minted pieces, the production of coins was never enough to satisfy the internal needs of the Viceroyalty, since, especially the large module coin, had its destination in Europe and even Asia.
The new ordinances of 1750, under the reign of Fernando VI, constituted a model of organization in the production of coins. They perfectly reflect the division of each and every one of the tasks, they established positions, obligations and salaries of each and every one of the workers of this House: from the maximum responsible, the Superintendent, to the bailiff, passing through the guards , accountants, assayers, balance judges, etc. With regard to the assayers, perhaps the most recognized figures and whose initials we find on the minting, and as appears in chapter XXV of these new ordinances, there were four, two owners and two supernumeraries following the treasurer in the hierarchy and they had to pass an examination of sufficiency before the major assayer of the Kingdom or the Viceroyalty of New Spain.
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