#o024# Spanish Countermarked 8 maravedis coin of Philip IV, 1652 AD

Welcome to cc coins Up for auction is a Spanish Countermarked 8 maravedis coin of Philip IV, 1652 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 a previous 8 maravedis coin of Philip III (Minted in 1619) to 6 maravedis. This coin was then again revalued to 8 maravedis in 1652 with an '8' stamp.
ID# 024o Diameter: 22mm
MINT: UNKNOWN
OBVERSE; 8 VI - Value/Mint (VI/?) & 8 stamps atop lion.
REVERSE; 1636 1652 -Crowned d ate stamps atop castle.
REFERENCE: NONE

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