Peru - Shipwreck "La Capitana" - 8 Reales - 1650s - First Pillars & Waves Coins --- This AUTHENTIC 8 Reales cob, struck in Potosi under the rule of Philip IV of Spain, was salvaged from the treasure ship Jesus Maria de la Limpia Concepcion, better known as "La Capitana." The huge galleon on the Armada del Mar del Sur was lost near Chanduy, Ecuador in 1654 while sailing from Peru to Panama. This specimen is an example of the beautiful pillars and waves design, minted in the first three years of its inception. An infamous period of stealing, corruption and fraud at the Potosi mint ended in 1652, and several assayers and mint officials were publicly executed. As a solution to the mint scandal, a new design of coinage - the pillars and waves series - was implemented. The very first pillars and waves cobs were struck for only a few months in 1652. The design was so popular that it was used on coinage for the next 120 years. Comes with a Certificate of Authenticity bearing the image of the actual coin as shown in the images.