1774 Spanish 2 Reale Lima, Peru mint
NStef
Posts: 7 ✭
Hey y'all! I'm new to this forum but I'm also on treasure net. I dug this 2 Reale at a colonial site down here in Charleston, SC and it is my first spanish silver! Just wondering how you all go about determining value of coins. I know you can take them and get them graded. Do you usually just look online or take the coin to a specialist. This coin in particular seems to be on the more rare side and on one site i did see that some Spanish silvers are more valuable than others and this one was listed as one of them. Wondering what you all thought about this coin. I'm not really planning on selling it (or anything else I've dug) but it is nice to know. Thanks for looking and for any comments. 
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@NStef ....Welcome aboard..... That is a really nice find... not common at all. However, the bad news is, a dug coin rarely has any large premium value.... I am sure some collectors would certainly pay above melt, no doubt about that. Exactly what would be just a guess.... I would love to find a coin like that... If you really want to learn the value, I suggest posting it on the World Coin forum with good pictures... the damage will limit it, but I know you will get a good answer. Cheers, RickO
That's a great find! Ebay is a good starting point for rough values. But as noted, if it's a rare variety it can be worth more. The good and the bad of Spanish silver, is that they circulated in the U.S. but there were large quantities made in general, keeping prices modest for non-dug specimens. Good because they were lost with some frequency. The biggest denomination I found was a 1R, so a 2R must've been a sight to see. As RickO noted, check the World Forum to see if there is any other info.
Congrats on a great find! Hard to beat the excitement of unearthing an old silver coin.
For coins I'm not familiar with I have a bunch of Krause catalogs of world coins, which is usually the first place I'll look. They're old and the values are out of date, but it's usually enough to indicate if it's a common type/date or a scarcer one. If things look promising (and they usually don't), I look online to get an idea of recent market prices.
I suppose checking online immediately might be just as quick, but this way I also get some information about mintage, composition, etc. This info is usually more interesting than the value, which tends to be low.
<$50 for pretty much anything that isn't gold.
Cool piece.
If you go to sell it, put (shipwreck??)
In the listing.
That should add a premium.
welcome to the forums. thats always a great feeling to find spanish silver. i do hope ya find some more in that area as well.
Nice! I dug a 1721 Spanish 2 Reales a few weeks ago (see my thread called Spanish Silver). Mine is missing about a 1/5 chunk, probably taken by a plough. Yours is intact and looks very good. As others have pointed out, the value is diminished somewhat due to it being a dug coin. Still a great find, though.
Nice! I'll take a look. I don't plan on selling my which is why I cleaned it. Used the Tin Foil/BakingSoda/Boiling Water method and it was done wonders on the coin. Every time I soak it using this method and lighting rub it under water with my thumb more of the buildup comes off. You can tell on the HISPAN side how well it is cleaning up. The problem area is the bust. I honestly think the back could end up looking like a non dug coin.
Show us pictures of the improved product.... Cheers, RickO
That is the improved product thus far. haha here is what it did look like.
It is coming along.... maybe a soak in olive oil will help... that is a long term option though. Cheers, RickO