Resello

It is called the action of re-sealing a coin by changing its value.

Philip III the year 1603 ordering to seal the copper coin, fixing the value of 4 maravedíes to the piece that until then had been valid 2 and 8 to the 4 and prohibiting the course of which lacked a mark. This one was printed in 2,448,000 ducats and Gil Gonzalez Dávila, in the work of the greatness of Madrid, in the cap. 9, assures us that with this providence the price of everything with public damage was increased and the realm of counterfeit currency was filled out.

In spite of such a fatal result, Felipe IV ordered the year 1636 that all the fleece coin that had been resealed in 1613, should be resealed so that from there the ochavo was worth 6 maravedíes and the cuartillo, 12. Having executed and returned to the parties his money with the coasts of the driving, remained to the king 4,700,000 ducats.

Francisco Quevedo, in the memorial to Felipe IV, as a result of the fall of Count Duque, speaking of the operation of the resello, says:

He raised and lowered the coin, doing 12 maravedíes of one with damage of the realms. This was increased with the pragmatics published by Charles II, reducing to a quarter the value of the mill coin, to cut the introduction of the false and to bring down the price of the genres. Says Antonio Solís

This ministry of the lower produced the pragmatics: this was the dearth of all things and famine was born hunger, which lacks law.

Hacienda Dictionary, José Canga Argüelles, 1827

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