1783- El Cazador 8 reales, comments please?

kcnovice

Got this for $35, with a COA.. first shipwreck coin. Took a chance, not knowing diddly, am I the proud owner of not much, or worth the $. Saw some on ebay selling for $100+or-. graded though.

The edge is a pattern of small square then small circle(repeated), has some rim dents, and coloring??

Best pics I could do, thanks for any comments regarding the coin, grade-authenticity-worth slabbing ect.(or chaulk it up to beginners educational fees)




Edited: COA has a grade of fine listed.

theboz11

You should be tickeled to death, Great coin and purchase with lot of history

kcnovice

Have to be honest didn't know about this coin even with coa. but seller is a dive buddy(sometimes dependent on me for air in a pinch)


so I figured he was telling it right at least as he knew.

worth slabbing?

theboz11

Personal feeling,,,Nothing is worth slabbing except for protection or Authentication, Someone else will have a different opinion.

edit, BTW Welcome to the darkside.

rhound1977

Nice catch....

Ricke

I'd say for 35 bucks, you made a heck of a deal. I don't own any shipwreck coins, but I collect these types in smaller denominations - good purchase, in my opinion.

laurentyvan

If I'm not mistaken, your coin represents a Colonial Milled Mexico, 8R, 1783 FF, KM106.2.

I only have the KM 2nd edition for 18th century coins which lists this coin as $25 in VG, $45 in Fine, and $60 in VF, ($140 in XF). This edition came out in 1996 or 1997, depending on when they released the volume, probably 1996...

I'm not that familiar with the series (despite owning 7 8R from various countries) but yours is probably F to VF ish and depending on how much values have risen since 1997, I'd agree with the forum: you did well.

laurentyvan

The edge is a pattern of small square then small circle(repeated),

It is probably the S2 security edge shown on page 15 of my Krause (not sure though)...there are two upright dashes (that might resemble a square on a circulated coin) on either side of a black circle.

As for color, no one ever objected to a grey patina on an old coin, but colors other than that I don't see (at least in your image).

Ed to add: ...and you can't discount the shipwreck card-plenty of history and romance to go with the coin.

kcnovice

Thanks for all the info so far. Looks right on the rim security edge detail. I was hoping for an EF maybe(beginners folly) but would be very happy with a VF.



Edited: What would be the grading company of choice for this coin(top 2 in preference order);
this is my starting coin for a collection of shipwreck coins, so I'm slabbing it for protection and
authenticating mostly, but also for value?

ajaan

I think that coin would be bodybagged. If you still want to send it in, try ICG, they will only charge you $5 if it is bodybagged.

kcnovice

overall appearance?, rim dents?, salt water pitting?, all of the above? could you shed some light on the reasons.

ajaan

I think the obverse pitting would cause it to be BBed for environmental damage.

kcnovice

Thanks.

Ricke

I don't know ajaan, sometimes they will slab coins attributed to shipwrecks with every expectation that there will be some environmental damage... I've seen some pretty rough shipwreck coins in slabs, although I don't know if they give it a graded designation, just an authentication.

I think VF might be high for this coin, although salvage coins get a certain forgiveness for their condition.

kcnovice

I wondered about that(environmental effects when dealing with shipwreck coins), seems a good question so I asked it in the Q&A forum. Maybe get an opinion next tuesday.

1960NYGiants

ANACS + NCS would slab it. I doubt PCGS or NGC would even with the COA.

Either way I like the coin - and the history - and think you did OK at $35.

Gene

GDJMSP

I agree, you did very well for the price. Personally I have a sentimental attachement to shipwreck coins, but I would very rarely pay the premiums that are usually asked. They're simply not worth it to be honest.

I would not bother having the coin slabbed - it's not really worth it. Even if you didn't have the shipwreck cert it definitely appears to be genuine.

TheKidCollector1991

I got a 1776 Mexican Half- Reale...But that is nowhere compared to this, This is amzing!!