1793. Carolus IIIi Dei Gratia, Just Found Coin

It's a replica 8 Reales. The wording on the reverse states "REPLICA"

Some coins like this were made and glued to a card that had a photo and a description of the genuine item.
I presume they made have been made for the gift shop market. In other cases, a good number of old coins were made as replicas, but I don't think they were identified as replicas on the coins themselves. These were distributed in Canada with a toothpaste product.
Sort of like the "prize" in the old "Cracker Jack" boxes. These coins can be confused with the real items when they find their way into unsuspecting hands.
They can even show up in forums just like this or might even be sold online. The buyer or seller may or may not ever know the coin is not genuine.