1778 New Spain (Mexico) 8 Reales

Country: New Spain (Mexico) 
Mint: Mexico City (Mo)
King: Charles III / Carolus III
Value: 8 Reales
Composition: Silver .903
Weight: 27.07 g
Diameter: 40 mm

Produced by the Spanish empire and known for its consistent weight and purity, the "piece of eight" or "ocho reales", was the first truly globally recognised coin. It dominated world's commerce for more than two centuries, particularly the maritime trade. Together with Maria Theresa thaler, widely used in land-based trade.
It was used as legal tender in the USA until 1857. Alexander Hamilton based his new American silver dollar coin on the average weight and composition of circulated 8 reales. The ribbon wrapped around the pillars of Hercules (or possibly the mint mark of Potosí) became a symbol of the American dollar ($)
Obverse: Bust of king Charles III (1759-1788)
Reverse: Pillars of Hercules, hispanic coat of arms with crown above.
Coin is heavily tarnished as seen in pictures.


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