1791 MEXICO Silver PIECE of EIGHT > 8 REALES Chinese CHOP MARKED King CHARLES IV

Description

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1791 MEXICO Silver PIECE of EIGHT > 8 REALES Chinese CHOP MARKED King CHARLES IV
1791 MEXICO Silver PIECE of EIGHT > 8 REALES Chinese CHOP MARKED King CHARLES IV
Description
This is one of the famous silver
“Pieces of Eight”
or
"Eight Reales"
or
"Spanish Milled Dollars",
they were called all three, from
"Colonial"
Mexico in what was then
"New Spain"
. It was struck at the Mexico City mint and dated 1791 during the reign of King Charles IV.
The
“Spanish Milled Dollar”
had a worldwide circulation and was a true
"Trade Coin"
. The famous Continental Currency of the fledgling United States was payable in Spanish Milled Dollars. They were the coin of preference in Asia and the United States later unsuccessfully tried to compete with it by issuing the quickly obsolete
"Trade Dollar"
. This coin circulated in Asia, and has multiple
"Chop Marks"
on both sides. Merchants would mark the coin to assure themselves it was not counterfeit and was made of good silver.
Weight: 26.25 Gram, 39 Millimeter, .896 Silver.
"Standard Catalog of World Coins"
(1701-1800)
by Krause-Mishler.
#10
9.
Obverse:
CAROLUS • IIII • DEI • GRATIA • 1791 •
Charles the fourth, by the grace of God.
• Laureate
“Roman”
style bust of King Charles IIII right. • Multiple Chop Marks.
Reverse:
HISPAN • ET • IND • REX •
King of Spain and the Indies.
• Mexico City mint mark in monogram. • 8R •
Eight Reales.
• F • M • Is for mint assayers Francisco Arance Cobos and Mariano Rodriguez.
Arms:
Crowned arms showing the lions of Leon and the castles of Castile, surmounted by the lilies of Bourbon France
(added after the War of the Spanish Succession)
. The pomegranate at the bottom is for Granada. All between two pillars representing the pillars of Hercules
(straits of Gibraltar)
with a ribbon on them reading PLVS VLTRA
(meaning “More Beyond”).
The Coin:
A veteran example. It saw commerce and passed through some hands, earning its present appearance. It has the interesting chop marks that show it circulated in the far east. As grading is subjective, please see the pictures and judge for yourself.
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