Silver Bar Physical Object


Accession Number
1986.003.0008
Alternate object names
Silver Ingot;Silver;Ingot
Creation Date
1621
Materials
Description
This loaf-shaped silver ingot was being shipped to Spain by Miguel de Uzarraga, via Miguel de Munibe, to a person named Rodriguez. The ingot bears multiple marks and stamps. A “P16Z1” shows that it was cast at the Andean city of Potosí in 1621; the Roman numeral IIUDCCCVIII (2808) tells that it was the 2808th such ingot cast there that year. Other marks include the Roman numeral IIUCCCLXXX, which indicates the silver was 2380 out of 2400 parts pure; Uzarraga’s large personal mark, a combined U and A; shield-style tax stamps; and the “V” of Atocha silvermaster Jacobo de Vreder, indicating he had accounted for the bar’s presence on the galleon.

Dimensions

13.6 cm W x 36 cm L , Item (Overall)

29.38 kg Weight

8 cm Thickness

36.0 by 13.6 by 8.0 cm. 64.78 pounds 78.72 troy pounds.

Exhibition Label
Case Caption (2023):

COUNTING CARGO

Jacopo de Vreder was the silver master aboard the Nuestra Señora de Atocha. It was his job to make certain that the cargo was accurately accounted for, royal duties on it were collected, and that everything, including the passengers and the goods that they were transporting, was safely stowed. His written manifest traveled with the ship, but a copy would sail aboard another vessel, so that his record would get to Spain, even if his ship did not.

De Vreder recorded the silver bars individually and stamped each one with his initial, “V.” Other cargoes were listed by weight.

The inventory included:
Silver Bars – 1038, 30 tons, about 70lbs each
Silver Coins – about 200,000, loaded in chests
Gold Bars, Bits and Discs – 161, with a total weight of 3,462 oz.
Copper Ingots – 582, totaling 15 tons
Silverware – 1,200 lbs.
Tobacco – 525 bales, about 25 tons
Indigo – 350 chests
Object Caption (2023):

Ingot
Silver (1621)
Gift of Mel and Deo Fisher
1986.003.0008

This loaf-shaped silver ingot was being shipped to Spain by Miguel de Uzarraga, via Miguel de Munibe, to a person named Rodriguez. The ingot bears multiple marks and stamps.

A “P16Z1” shows that it was cast at the Andean city of Potosí in 1621; the Roman numeral IIUDCCCVIII (2808) tells that it was the 2808th such ingot cast there that year. Other marks include the Roman numeral IIUCCCLXXX, which indicates the silver was 2380 out of 2400 parts pure; Uzarraga’s large personal mark, a combined U and A; shield-style tax stamps; and the “V” of Atocha silvermaster Jacobo de Vreder, indicating he had accounted for the bar’s presence on the galleon.
Previous Exhibit Case Caption: Removed March 29, 2023 Silver Ingots Recovered from Nuestra Señora de Atocha and Santa Margarita Gifts of Mel and Doloras Fisher, Jamestown Treasure Salvors, Kim Fisher, Paul Wimmler, Wayne Densch, John Scott, Joseph S. Hoffman, Edwin and Jane Davis, Demosthenes Molinar, George Breed, and Norman Johnson. The Atocha carried 1.038 silver ingots, mostly from the rich silver mines at Potosi and Orunro. Each ingot weight about 70 pounds, with a collective weight of over 34 tons. What was an ingot’s value? A sailor’s monthly salary in 1622 was about 3.5 ounces of silver. A single bar, therefore, would represent 26 years of pay. “If God brings the ship safely to Spain.” – Jacove de Vreder, Atocha Maestre de Plata The duty of the ship’s silvermaster, or maestre de plata, was to track the details of the valuable cargo and ensure its safe arrival. Lists were created as the items were brought aboard the noted owners, descriptions, registry numbers, and other pertinent information. This manifest, or registro, was used to confirm the items safe arrival, then it was filed with government officials. Silvermasters earned their salary based on the amount of treasure a ship carried. The silvermaster on the Atocha, Javove de Vreder, would have earned a sizeable income, but he and the treasure cargo were both lost as sea when the Atocha sank. Official shipments abord the Atocha included the following cargo” • Payments to King Philip IV of Spain • From the City of Lima collected for fines and sales tax, • From the City of Potosi on mined silver (133 ingots) • From the Cartagena de Indias on 1.400 African slaves (1 chest of ingots) • Revenues from papal indulgences for the Catholic Church • Personal shipment by Lorenzo de Arriola of Potosi (60 ingots) • Personal shipment by Martin & Marie Salgado of Lima (15 ingots) • Personal shipment by Simon de Torres of Oruro 95 ingots) • Private shipment to establish a priest’s residence in Spain 93 ingots) • Silver items of Doña Isabel de Pernia (35 lbs) Silver Tax The Spanish government assessed a tax known as the quinto real, or royal fifth. It required payment of 20% the value of each silver ingot shipped. A round stamp distinguished the bars whose owners had paid the royal tax. In addition, a six percent freight and transportation fee was also assessed. This fee went into a common fund to pay for the protection of the ships. These silver bars also bear a large “V,” probably the mark of the Atocha silvermaster Jacove de Vreder. He would have stamped his mark after registering the silver ingots, noting the payments of fees and taxes.