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Up for auction is a Spanish Countermarked 4 maravedis coin of Philip IV, 1658 AD
During the Spanish 80 year war, the empire suffered from an acute lack of copper due to increased demand for munitions (ie cannons). This crisis was compounded by background inflation (an ongoing concern given the influx of precious metals from the Americas since the 16th century) . In an attempt to address these issues, the government attempted to change the monetary value of currency currently in circulation.
In 1636 a VI stamp was added to this coin to revalue it to 4 maravedis, this coin then had its value confirmed at 4 maravedis following the end of the 80 year war using the monogram stamp PHILIPPVS in 1658 under the authority of the same king (Philip IV).
ID# 021o
Diameter: 21mm
MINT: G (Granda)
OBVERSE; VI, REX( 1658)
-Value/Mint (VI/G) & crowned REX/1658 stamp.
REVERSE; PHILIPPVS, 1636
-Crowned monogram stamp & date stamp (1636).
REFERENCE: NONE