El Cazador 8 Reale Inverted Mint Mark NGC Genuine (Shipwreck Coin)PRODUCT ID: 10003
Includes: El Cazador 8 Reale Inverted Mint Mark NGC Genuine
In 1772, Spain decreed a lower silver content for their coinage and introduced a new design with the portrait of the reigning monarch, Charles III, on the obverse and the crowned shield of Le—n and Castile between the Pillars of Hercules on the reverse. Despite this change from the well-known columnario/pillar dollar design, the portrait eight reales were widely accepted as international currency due to the consistency of silver content and uniform milling characteristics that made them difficult to counterfeit. These coins were so abundantly minted and used in commerce that they were legal tender in much of the world. They made up the majority of specie in the US, well after the US began minting its own currency, and were the preferred trade dollar with China.
The common mintmark is 'M' with a small 'o' above. The first two years of the Charles III portrait type are known for the inversion of the mintmark and assayers initials (1772 & 1773) Charles III portrait 8 reales were issued from 1772-1789 and posthumously in 1789 and 1790 with the bust of Charles III and legend for Charles IV.
8 reales of Charles III, one of a type struck in Mexico 1772-73. Because of the inverted mintmark (1772-73 only), this date receives a premium in the market. Assayer FM is recorded for the years 1770-77. The dollar that George Washington allegedly threw over the Potomac could have been of this type The El Cazador (meaning The Hunter in English) was a Spanish brig that sank in the Gulf of Mexico in 1784. On 20 October 1783 Charles III of Spain sent her on a mission to bring much-needed hard currency to the Spanish colony of Louisiana. The ship sailed to Veracruz, Mexico, where she was loaded with approximately 450,000 Spanish reales. King Carlos III enlisted his most trusted captain, Gabriel de Campos y Pineda, to command the ship. On 11 January 1784, she sailed for New Orleans, and was never heard from again. Spain's attempts to locate the ship were unsuccessful and in June 1784, El Cazador was officially listed as missing at sea.
Then on 2 August 1993, the trawler Mistake, Captain Jerry Murphy and home port Pascagoula, Mississippi, was fishing in the Gulf of Mexico fifty miles south of New Orleans. As it fished, Mistake's net hung on a snag. When the crew hoisted the net and dumped the contents on the deck, they found the net was filled with silver coins. The coins bore markings from the Spanish mint in Mexico, along with the date 1783. Her loss contributed to Spain's eventual conveyance of Louisiana to France's Napoleon in 1800. The rest is history, as three years later in 1803, Napoleon of France sold Louisiana to the United States, instantly doubling the size of the country.
Display Box may not be included, limited availability.
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