Counterfeit Detection: 1783 Mexican 8 Reales

NGC - In 1783 the Mexico City Mint struck hundreds of thousands (if not millions) of 8-real coins. Unfortunately, the actual mintage figures have been lost to time. What is known, however, is that two different varieties were struck that year, each corresponding to different assayers, FF and FM. These initials can be found on the reverse at the 10 o' clock position.

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While the assayer's mark (right) on this 8 reales is correct, the date is not. Close examination reveals toolmarks and discoloration around and inside the loops of the 8. This coin most likely is an altered 1773 example, which is much more common.

This 1783M#778; FM reales recently was submitted to Numismatic Guaranty Corporation (NGC). A quick search in NGC's World Price Guide (NGCcoin.com/price-guide/world) reveals that this is an exceptionally rare issue. An example in Very Fine-20 sells for a whopping $9,000, while the more common FF in the same grade goes for only $150.

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