Expert: Brad Swain - 1/20/2010

Question
Looking to find some history on my coin and the seal/stamp it has on it.
It has much wear on dark speckled edges but is very legible.
My research shows the coin to correct in every detail but two.

1. It says (8R T. H) instead of (2R J.P)
2. There is a square stamp or seal on the front right over cheek with maybe the detail of a crown and S R
The impression of this seal pushes through to the back and smudges part of the crest on the reverse side.

Front: CAROLUS . IIII DEI GRATIA 1806
Reverse: HISPAN . ET IND REX M 8R T.H

I'm looking to see price and what the SR means.
Thank you so much for your time.
Sincerely
Bree from Florida

Answer
Hi Bree, It appears to be a silver dollar sized Spanish-Mexican 8 Reales. That design features King Charles IV (1788-1808). The T and H are the Mexico City mint's assayers' initials. The Mexico City mintmark is an M with a small o over it. It should weigh 27.0674 grams and would contain .7797 of an ounce of silver. Collector value depends on date, number minted and condition of a coin, including amount of wear, any dents, scratches or cleaning. This one may be worth about $20 with heavy wear to maybe $50 with moderate wear to possibly $100 with light wear. You might also try a library for a copy of the Standard Catalog of World Coins for pictures, values and lots more interesting info.
The SR counterstamp is a mystery. You might try that question here:
http://forums.collectors.com/categories.cfm?catid=6
The “Spanish Milled Dollar” and its fractions were the principal currency through the early 1800s in U.S. everyday circulation and were legal tender as late as 1857.
You might find similar pieces on Ebay.com for comparison. These sites are also a great info source:
http://carlclegg.com/pillars/design.html .
http://www.coinsite.com/content/faq/8RealesMilledPillar.asp .
Brad