CARLOS III

Popayan onzas. The mint of Popayan was the last one established by the Bourbons in the 18th century. After much insistence from its citizens, arguing that it would benefit trade and improve fiscal collection, the king finally agreed to their request on June 29, 1729, on the condition that all expenses would be covered by the city. However, since this was not possible, its construction was put on hold, especially since José Prieto, treasurer of the mint of Santa Fe de Bogotá, tried to either prevent or control its development, claiming that he had the king’s privilege to establish any other mint needed in the New Kingdom. Finally, Pedro Agustín de Valencia y Fernández del Castillo offered to cover all the costs of the process, and King Ferdinand VI authorised the official opening of the new mint with a Royal Decree dated May 2, 1749, appointing Valencia as its treasurer. It’s worth noting that the first coin from the Santiago mint was also issued in that same year. However, Prieto’s heirs once again claimed their rights, which led the Viceroy to halt the mint’s construction when it was nearly finished. The process was only completed after a new Royal Decree, issued on May 27, 1756, ordered the immediate opening of the mint, which began production in 1758. When Charles III ascended to the throne, many mints introduced new busts. However, in Popayan, the so-called third monetary bust of Ferdinand VI, created by Tomás Francisco Prieto, was retained, and with it, the mint began to strike onzas in the name of Charles III from 1760 to 1771, marking the final production of the pelucona type of onzas under a Spanish monarch. An important collection is presented here (1760, 1761, 1763, 1767, 1768, 1769, 1770, 1771), which also highlights the ongoing issues, as the mint was closed once more by a decree on October 27, 1761, though production did not halt until May 1763. Due to complaints, especially from Quito, which claimed significant harm to its commerce, the king ordered its reopening in August of 1766 and its incorporation into the Crown in 1771. However, Valencia was compensated by retaining his position as treasurer, which was passed down to his son Joaquín in 1784. Shortly after the death of the founder (1788), King Charles IV granted his son, Francisco de Valencia y Sáenz del Pontón, the title of Count of Casa Valencia in November 1789. The major monetary reform of 1772 provided the opportunity to finally mint coins in Popayan featuring the authentic portrait of Charles III, along with his new coat of arms on the reverse (1772-1789).