Here it goes again old coin?

Question

1787 large coin front carolus.111.dei.gratia. back Hispan. et. ind.rex.M.8r.F.M. what is this and what is the calue coin is in good condition

Answer 1

You have KM# 106.2 an 8 Reales piece from the Mexico City mint issued during the Spanish colonial period. In English it is King Charles III. It is made of .917 silver and it's actual silver weight is .7982 oz. Most mintage figures from back then have been lost but it looks like they were some what high for the years 1785-88. The coin has a retail of $25 in a low circulated grade to $60 in higher circulated grades. You would get about half, if sold to a dealer. There is a rarer 1787/6, the 6 is under the last 7 in the date. it goes for $100 and up. This should give you some idea to it's value. It is a highly collectible coin both in the U.S. as well as the world. You would do best on an auction. Most U.S. coin dealers are not very good with world coins, pay little and know even less. Remember your coin is considered a "Piece of Eight" and could have been in the hands of a pirate at one time.