Denomination: 8 Reales
Reign: Carlos III
Mint: Lima, Peru
Assayer: M.I. - Joint Assayers (1780 – 1787)
Weight: 25.63 gm
Mount: Sterling Silver Skull with Ruby eyes. The prongs are 14K gold. Sterling Silver chain included.
Coin notes: Notice that the coin has "chopped marks", which indicates it was possibly used as currency in China or the Philippines.
History: The Lima Mint (Casa de Moneda), the oldest in the Viceroyalty of Peru, was authorized by Royal Decree on 21 August 1565 and began minting coins in September 1568. In 1572 Viceroy Toledo decided to move it to Potosí, near the mines where the metal came from. In the end, however, it was never closed. In 1573 part of the tools were first taken to La Plata (later called Charcas, now Sucre) to find a new mint there, and in 1574 it was transferred to the city of Potosí. The mint reopened again in 1577 and closed permanently in 1587. Although a minting was made in 1592, possibly with remaining material.
During the reign of Charles III, a new type of design was adopted for silver coins with the laureate bust of the monarch. The first coins of Charles IV appeared with the image of Charles III, until the new dies arrived. Similarly, when Ferdinand VII took the Spanish throne in 1808, as the new dies were slow to arrive, they decided to mint with an imaginary bust of the king. Hence, those issued in Lima between 1808 and 1811 are known as the Busto limeño. As early as 1810 coins began to be minted with the authentic bust of Ferdinand VII. The Screw Press guaranteed a near-perfect round coin, with a milled edge to prevent anyone from tampering with the silver. This also reduced the need to weigh each coin as it was produced, allowing a faster production rate from the Mint to shipment to Spain. These types of coins were widely preferable to do business and pay taxes with because they possessed a full border, making them harder to counterfeit and shave pieces off, which was increasingly becoming problematic in the Empire.