8 Real    (sold for $74.0)

1889, Mexico (2nd Republic). Silver 8 Reales (Cap Dollar) Coin. Interesting Chinese Chopmarks!

Mint Year: 1889
Denomination: 8 Reales
Mint Mark: Zs (Zacatecas)
Reference: 1896-ZsFZ, KM-377.13.
Material: Silver (.903) .7259 oz ASW.
Condition: Deformed by over a dozen interesting, mostly different chopmarks, few of which seem to be full characterse, otherwise VF-XF!
Weight: 27.03gm
Diameter: 39mm

Obverse: Phrygian cap with "libertad" inscription, with 32 light rays.
Legend: * 8R . Zs . 1889 . F . Z . 10 Ds . 20 Gs .

Reverse: Eagle with a snake in its beak, standing on a cactus plant, sea waves below.
Legend: REPUBLICA MEXICANA (terminated by olive and oak branches)

Pillar coins were a great improvement over cobs in that they were of a uniform size and weight without cracks or uneven edges. They had a deep full strike with all information clearly visible and were difficult to clip or counterfeit. Denominations for this new coinage included the one half, one, two, four and eight reales coins.

Portuguese merchant ships first arrived on the Chinese coast in 1517. The traders came to buy luxury goods such as silk and porcelain, for which the Chinese favoured payment in silver. As a result, during the eighteenth century European silver coins were exported to China in great quantities, through trade. At one stage almost the only coins used in southern China were European silver coins. Most of this silver was Spanish, much of the metal coming from the Spanish silver mines of the New World. In order to increase trade, the Spanish colonial administration at Manila in the Philippines arranged for silver coin from her American colonies to be shipped directly to Manila. The best known of these coins were the famous 'pieces of eight', the 8 reales piece. Chinese merchants in Manila then carried the silver coin to China where it circulated, mainly in the south-east. The use of silver coins in Chinese trade continued well into the nineteenth century, when silver dollars were often melted into ingots to provide payment as tax. Chopmarks on this 8 reales piece indicate that a Chinese money-changer has tested the quality of the silver. Forgeries were a common problem and cutting into the coin showed whether it was solid silver or just silver coated.

J. Williams (ed.), Money: a history (London, The British Museum Press, 1997)

W. Bertsch, 'Chinese chops - a bibliographical survey of Western publications', Oriental Numismatic Society In, 29 (January 1998)

The successful revolt of the Spanish colonies in America, did not stopped the Spanish dollar to dominate the Eastern trade, and the peso of 8 reales continued to be minted in the New World. The coin was sometimes called a Republican dollar, but eventually any peso of the old Spanish 8-real standard was generally referred to as a Mexican dollar, Mexico being the most prolific producer. Mexico restored the standard of 1772, producing a coin of 27.073 g, 0.9028 fine, containing 24.441 g fine silver (the mark weight of the Mexico City mint was very slightly heavier than the standard mark of Spain).