This specimen is a genuine Treasure Coin salvaged from the shipwreck of the Spanish Galleon, Santa Maria de la Consolación, which sank in 1681.

Delayed in getting her cargo of Silver from the Potosi mint prevented the Consolación from sailing with the Armada del Sur (South Sea Armada) from the port of Callao in present day Chile. Forced to sail on her own, the Galleon was chased by notorious English Privateer, Bartholomew Sharpe.

The Captain of the Consolación headed for the small island of Santa Clara in the Bay of Guayaquil, a routine stopover for the Armada del Sur, but ran aground on a reef. The Galleon was set ablaze to prevent the pirates from plundering the cargo before the crew and Captain abandoned ship. Angered by this, Sharpe and his crew killed the shipwreck survivors.  To this day Santa Clara is known as Isla de Muerto—Island of the Dead.