Accession Number

1986.006.0002

Creation Date

1622

Description

This relatively small and flat silver ingot bears the Roman numeral IUCLXIIII, a Potosí mintmark, and a date of 1622, meaning it was the 1164^th silver bar produced at that Andean mining center in that year. A central “scoop” on the face of the ingot was made by the assayer when he sampled the silver to determine the ingot’s purity. Another set of smaller roman numerals read IIUCCCLXXX, showing the silver was 2380 parts pure silver of 2400, affirmed by the adjoining mark of an assayer named Mexia. The face is marked with four shield-style stamps and a large “A.” The A indicates the ingot was part of the crown’s annual one-fifth share of the silver from Potosí. It was one of 133 such “A” bars on Atocha.

Exhibition Label

Case Caption (2023):

SCIENCE OF SILVER

The Inca used barter instead of money and exacted taxes in the form of required periods of labor, known as the mita. In 1571, silver production was revolutionized by the introduction of amalgamation, a process by which crushed silver ore was mixed with mercury and then separated. This increased the efficiency of the mines by 500%.

Immediately, the Spanish needed more workers to complete the processing. They revived the mita, compelling Indigenous laborers to work in the mines. At Potosí, roughly 14,000 Indigenous men were required annually. An additional 3,500 men were sent to mine mercury at Huancavelica.

Both mining and amalgamation were extremely dangerous. Countless workers perished until this system ended in 1821.
Object Caption (2023):

Silver Ingot
Silver (c.1620)
Gift of Paul Wimmler
1986.006.0002
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.