Expert: Brad Swain - 3/11/2010

Question
QUESTION: Brad,

I am curious about a coin I have.  I have a Spanish coin with the inscription of Carolus III Dei Gratia 1772.  I have looked online and can find very little about this coin.  The only thing I have found about it is that people say it is one coin of eight?  Is that true?  If so, what does it make it worth?  The coin is pretty worn and has a small hole punched in it (I understand that travelers of that time would wear their coins on a string).
I appreciate your help!

ANSWER: Hi Scott, what size is it and what other writing is on it?
A piece of eight was literally a pie shaped section of a silver dollar sized 8 Reales coin cut out in order to make small change.
A hole may also have been put in it also to wear as jewelry on a necklace. It would be considered damaged and would cut the coin's collector value by at least half or more.
You might also try a library for a copy of the Standard Catalog of World Coins for pictures, values and lots more interesting info.
Brad

---------- FOLLOW-UP ----------

QUESTION: Oh ok well that makes more sense about a piece of eight.  From what I can see on the back (faded areas) it looks like "Dispan (unreadable) d. Rex. G. IR.  The weight seems to be close to the weight of a US Penny, maybe a little less?  And the diameter is almost exactly the same as a US Nickel maybe slightly bigger.

Answer
Hi Scott, it seems to be a 1 Real coin from Bolivia featuring Spanish King Charles III (1760-88) with the assayers initials IR but no 1772 dated coins were issued.
Ah, the IR is actually 1 R (one real) and the assayers initials would be after that where the hole is. So the coin (probably Mexican if FM) is only worth the silver value, about $1.50 at best.
Without the hole this coin should weigh 3.3841 grams and would contain .0982 of an ounce of silver.
Brad