From our Spanish treasure chest
 
Sourced directly from our vaults in Iznajar, we are thrilled to present a collection of unique copper maravedis from the illustrious reigns of Philip II (1556–1598), Philip III (1598–1621), and Philip IV (1621–1665) of the House of Austria (Hapsburg). These coins are not merely relics of currency but vivid storytellers from Spain’s golden age—a time when the crown ingeniously recycled “old” coinage to meet the demands of war and fiscal pressure.
 
Over the course of the late 16th and early 17th centuries, as Spain’s financial strains mounted amid costly military campaigns and expanding imperial ambitions, the crown introduced the practice of revaluing existing coinage. Old maravedis were carefully counterstamped to upgrade their nominal values—from 4 to 8 maravedis, or from 8 to 12 maravedis—ensuring that even coins from earlier eras, including those of the Catholic Monarchs, could be brought back into circulation with renewed worth. In some truly remarkable examples, coins bear not one but two, even three layers of countermarks, each representing a different valuation, a distinct mint mark, and even a different year of reissuance.
 
Copper maravedis. Dates, values, mint marks and stamps very visible on many specimens that make up the lot. Very interesting with some very attractive stamps.
 
The visual appeal of these specimens is as intriguing as their history. Whether it’s the robust imprint of a mint mark or the intricate details of a stamped numeral, every coin in this lot offers a glimpse into the complex and colorful world of 16th- and 17th-century Spanish numismatics.

The Reins:
Reigns and Monetary Practices:
Philip II: Known for consolidating Spanish power and extensive colonial empire, his reign saw significant economic strain due to wars and debts.
Philip III: Continued many of his father's policies, leading to further financial difficulties, necessitating creative economic measures.
Philip IV: Faced immense economic challenges due to prolonged warfare (e.g., the Thirty Years' War), leading to further debasement and revaluation of currency.
 
What are Counterstamps?
 
During the reigns of Philip III and IV, counter-stamping was implemented to:
Extend Coin Usage: Revalue and re-circulate older coins to maximize their lifespan and utility.
Adjust Values: Increase the denominations of existing coins to meet inflation and fiscal needs.
Maintain Consistency: Ensure coins remain in circulation despite economic challenges, by adjusting their values to match current needs.
 
The Process:  
 
Revaluation: Coins were revalued from lower to higher denominations (e.g., from 4 to 8 maravedis, 8 to 12 maravedis).Counterstamping: Applied to coins from various reigns, including those of Philip II, Philip III, Philip IV, and even earlier coins from the Catholic Monarchs.Multiple Counterstamps: Some coins were counterstamped multiple times, reflecting up to three different values, years, and mints.
 
Social and Economic Impact:
 
Circulation:
Widespread Use: Copper maravedis were widely used for everyday transactions, essential for the common people.
Revalued Currency: Helped manage economic fluctuations and inflation, ensuring coins remained in circulation.
 
Public Perception:
 
Trust in Currency: Counterstamping aimed to maintain public trust in the value and legitimacy of the currency despite economic hardships.
Adaptation: Demonstrates the adaptability of the Spanish monetary system in response to ongoing fiscal pressures.