Bolivian Heart Cobs

Rare heart-shaped silver cobs from Potosí challenge assumptions about colonial coinage and hint at a deeply religious purpose.

Potosí, Bolivia. Photograph courtesy of Parallelepiped09/Wikimedia Commons.

Macuquinas, also known as cobs, were a type of coin struck in Spain and Spanish America from the 16th to the mid-18th centuries. Due to the lack of proper minting machinery, the coins were struck manually with hammer blows, and as a result, typically exhibit crude finishing and irregular shapes. Despite their appearance, they were heavily used in the Spanish colonies of America and often exported to distant places. After being extensively struck at the Spanish mints of Mexico, Peru, Colombia, and Bolivia, among others, they were replaced in circulation by the more sophisticated “bust”-type (milled) coins.

A 1658 four-real silver cob struck in Potosí, Bolivia.
Unless noted, all photographs are courtesy of the author.

This article focuses on a particularly striking group of cobs that, deviating from the usual “irregular” design, exhibit a heart shape. All these coins were struck in silver at the Bolivian mint of Potosí between the 17th and 18th centuries. In fact, the heart-shaped cobs are ranked among the rarest and most beautiful coins ever struck in the city.

Many theories have been proposed to explain the origin of these coins. Most experts agree that these heart-shaped Bolivian cobs had a primarily religious purpose. Some specialists argue that the coins were given their curious design after the “Sacred Heart of Jesus,” a religious devotion that spread from France into Spain towards the end of the 17th century, and from there to the New World. The heart alluded to Jesus’ divine love for humanity.

Two heart-shaped silver cobs struck in Potosí with values of 1/2 real (1737) and 1 real (1698).

Others associate it with the Basque community settled in Potosí at the time and with its devotion to Saint Augustine of Hippo, the patron saint of the village, who is often depicted with a heart aflame. The coins were allegedly used as votive offerings (ex-voto) in gratitude or to request favours either to the “Sacred Heart” or to Saint Augustine. In fact, most of these coins are holed, supporting the idea of their use as religious medals or worn as ornaments.

A 1689 heart-shaped 2-real silver cob, struck in Potosí.

Other experts are of the opinion that the heart-shaped cobs were used to support church-related activities and/or to reward students in monastic orders and schools. A last line of thought suggests that the cobs were shaped in the form of a heart on special occasions to mark significant dates in the Catholic Church.

The idea of attributing a romantic meaning to the shape given to the cobs has been almost unanimously rejected. In any case, the complete absence of documentation referring to the coinage makes it difficult, if not impossible, to draw conclusions as to its true purpose. Unfortunately, the meaning of these cobs remains shrouded in mystery, awaiting the discovery of some evidence that sheds light on their existence.

Exterior of the National Mint of Bolivia in Potosí.
Photograph courtesy of Dan Lundberg/Wikimedia Commons.

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Roberto Menchaca is a Spanish numismatist. Affiliated to ANA since 2019 (member No. 3200928). Author of two books about Cuban coinage entitled “La Moneda Cubana en Circulación” (2013) and “History of the Coin Circulation in Cuba” (2023) as well as over a hundred numismatic articles. His interest is mainly focused on numismatic research. He is also the author of the bilingual numismatic blog entitled “Publicaciones Numismáticas”(https://numismaticacubana.blogspot.com/).