1783 8 REALES El Cazador Spanish Shipwreck Coin, NGC CERTIFIED,First U.S.Dollar.Higher Grade,Good Detail.No Reserve .01 Auction. With Story Card.The El Cazadore Coins will all be processed out this spring/summer. This 8 Reales coin is the size of a US silver dollar.It was discovered by divers at a 200 + year old Caribbean shipwreck sight.It is 90% silver and was struck at the Mexico city mint. by order of King Charles III between 1772-1783.This type of coin was used as a model for the US silver dollar. France, Spain and England ventured on long voyages to expand their empires from the 1600's to the 1800’s and established colonies outside of their homelands. One of the ways to keep the new colony under control for the mother country was to command its currency. Usually the monarch or some other symbol of power from the initial country would be minted on these coins. The coins would also bear symbols and other devices that would tie the coin to that colony. The money would have some kind of fixed exchange rate with the mother country. Another way to keep the colony in line was to make the currency worth less than the money from the main country.
No country was more successful in colonial coinage than Spain. Their colonial coins are easy to identify; they used the Pillars of Hercules and the crest of... read more