The Armada figs are pretty rare, and never came more than three in a set, but I know that the last Pirate Minifig set, released in 1997 came with two Armada figs.
Here it is on Lugnet:
http://guide.lugnet.com/set/6204
I have no idea how much this is going for on Bricklink, but I think it kinda answers your question.
Spainyards
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The 4 Armada Figs:
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
http://www.bricklink.com/search.asp?inv ... &invType=F
Peoples_General, master of the vast LEGO armies!
[url]http://www.bricklink.com/aboutMe.asp?u=Peoples_General[/url]
Behold! The mighty armies of my ORIGIN theme!
[url]http://www.brickshelf.com/cgi-bin/gallery.c ... lesGeneral[/url]
[url]http://www.bricklink.com/aboutMe.asp?u=Peoples_General[/url]
Behold! The mighty armies of my ORIGIN theme!
[url]http://www.brickshelf.com/cgi-bin/gallery.c ... lesGeneral[/url]