1894 Ho (Hermosillo) 8 Reales

A just acquired example that, although I actually already had two of them, I wanted to put up just because it's apparently uncirculated and hasn't been dipped or otherwise cleaned, a combination which for this genre is not too often the case (which is why I now have three, you just shouldn't turn down any in this sort of condition whenever they present themselves).

I've included a closeup shot of the eagle's claw grasping the snake - this is where abrasion and flattening seem to first occur whenever these have entered commerce, even if only briefly, and is the key focal point for identifying examples that just miss mint state status. This specimen exhibits none such.

You may notice that there're some black spots present, but my judgment is that they'd be better off left alone.

This is regarded as a "common" issue, but according to records for 1894, of the 29,174,694 struck by all the mints in that year, a mere 504,100 came from Hermosillo. I'd remark that such a production figure for a Morgan dollar would qualify same as a key date, and as such a rather high value coin in mint state, and I'd add that the Mexican silver 8 reales were not stored as were Morgans so as to have so good a chance to survive in such pristine condition. So I judge this to be a pretty scarce piece, despite what the books say. Its relatively reasonable valuation is more a function of lower demand as compared to similarly available Morgans, rather than the absolute supply of either. It's part of why I collect these, as real rarities in this series remain affordable.