Charles III Silver Eight Reales, Piece of Eight, Lima Mint, 1777

Description

Denomination: Silver 8 Reales

Period: Charles III. Spanish Colonies

Date: 1777

Origin: Lima. Peru mint

Condition: Almost VF for type. slight knock and wear to edge

Obverse: Charles III bust in classic robes and laureate. right. CAROLVS III DEI GRATIA. date

Reverse: Crowned arms of Spain with two ornate pillars either side. HISPAN ET IND REX (MAE in monogram for Lima mint) 8R M J 

Size and Weight: 40mm. 26.83g

References: KM# 73

Features and Provenance: There has never been a coin with so much folklore attached to it. This 8 Reale coin from the reign of Charles III of Spain was known as a Spanish dollar. but also more evocatively. as a ‘piece of eight.’ with all the romantic tales of Pirate treasure that this entails. This coin. and those before it. were so popular that they were the first global currency throughout the Spanish Empire. With the British colonists not able to mint coins themselves and always running out of British coinage. they used the Spanish coins instead as they were very similar in weight of silver. 

Condition Summary. This varies with the age of coin and there are grades between

Uncirculated (U). As struck with no traces of wear

Extremely Fine (EF). Very slight traces of wear. all parts of legend etc present. visible and clear

Very Fine (VF). Some signs of wear on the higher parts of the relief. all parts of legend etc present. but maybe worn

Fine (F). Wear on the coin and parts of legend etc may be missing or not visible