What Was The Mintage On 1816 Ferdinand VII Om 8 Reales?

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Author	Replies: 7 / Views: 2,887
DoubleEagle20 Pillar of the Community United States 1748 Posts	Posted 12/13/2014 5:14 pm I am new to Spanish colonial and Mexican reales. Bought a well worn but nice 1816 at a local coin show. From its wear, looks like it circulated well as a dollar in the early United States, IMHO. Report this Post to the Staff

jfransch Pillar of the Community United States 1801 Posts	Posted 12/14/2014 11:59 am Welcome to the insane world of Mexican 8 reales, put on your seat belt and enjoy the ride. I have never been able to find any verified records of mintage figures for Colonial 8 reales. What scattered records I have seen refer to "gross production" with no breakdown for denominations. 1816 as a date is a common one, there is a very cool overdate (1816/5) that is found once in a while, it needs a magnifying glass to see clearly. This is a really fun series to collect and full of over-dates and over-assayers. Plenty of variety to keep you interested. Report this Post to the Staff
paxbrit Pillar of the Community United States 992 Posts	Posted 12/14/2014 3:27 pm I was once told that the velocity of money in Mexico tripled between 1800 and 1870, and to take a median mintage figure for the latter decade and divide it by three, that would approximate the amount of coinage for the early part of the century. Seems reasonable to me, but I have no way to verify that. It does stand to reason that an economy transitioning from agriculture to industry and export would require more money in circulation. I would think mintage figures for the US coinage would show a similar increase in demand. Report this Post to the Staff
DoubleEagle20 Pillar of the Community United States 1748 Posts	Posted 12/14/2014 4:50 pm I just bought a 1802 2 reales to go with it today. Very affordable and its original surface as well. So far it's a fun ride, jfransch. I suspect the mintages follow a similar trajectory to our American Bust Half dollars, pax. Those accelerated greatly in the last ten years of the series. Report this Post to the Staff
jfransch Pillar of the Community United States 1801 Posts	Posted 12/14/2014 5:57 pm Actually I would guess that 8 reales production out of the Mexico mint dropped off significantly begining in 1810 as Mexico plunged into it's war for independence and Spain deals with being taken over by Napoleon and controlled by a French controlled puppet government. Report this Post to the Staff
swamperbob Pillar of the Community United States 5362 Posts	Posted 12/21/2014 8:45 pm The way Mexico funded government in 1816 was largely through the export of silver in the form of 8 Reales. I am of the opinion that by 1816 stability in silver sales made for much higher dollar issues of 8Rs than US Bust halves. The US mint before the US had silver mines was really a production joke. Look at total US mintages and divide by US population and there was few dollars for each person in the US. In 1839 90% of all hard silver coin circulating in the US was Mexican American - not US mint products. The eight reales not the dollar was used in commerce and bills from that time period reflect that as fact. My introduction to Mexican 8Rs came when I was 9 or 10 and my great aunt found a box filled with receipts from 1810 to 1835. Nearly all were stated in terms of eight reales not dollars. They were found on the family farm in Lakeville, Mass. Report this Post to the Staff
DoubleEagle20 Pillar of the Community United States 1748 Posts	Posted 12/23/2014 01:14 am Makes sense swamperbob. American bust halves were mainly used as bank reserves for issuance of paper currency. I remember reading that most silver coins in circulation in the early U.S. were spanish colonial and mexican reales. The 1816 I bought definitely circulated greatly, and bears tribute to that fact. What I also read is that it wasn't so much currency units that mattered, it was the silver or gold content of the particular coin(s). One day you may get paid in Mexican Reales, then next u may get paid in British silver and you had to be well versed on many different coins precious metal content. Edited by DoubleEagle20 12/23/2014 08:18 am Report this Post to the Staff
Westwood Arms Pillar of the Community United States 684 Posts	Posted 12/25/2014 3:32 pm Pradeau states that $8,315,616 of silver were struck in 1816. Figure 90% of the silver went for 8Rs, so the mintage of the 1816 Mo 8R would be about 7.5 million. Report this Post to the Staff
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