Spanish 8 Coin: 1788 MO Fm XF

Very nice find (which woods did you find this in?) - Mexican Silver Crown

Milled Bust type, Charles III, dated 1788. A coin struck only one year after the signing of the United States Constitution!

Denomination: 8 reales
Mint: Mexico
Assayer: FM
Weight: 27.1 grams
Diameter: 1.55 inches

Hope this helps!

Very Nice! These coins circulated in US from the colonial period until 1857, when all foreign coins were demonetized here. The odd characters that seem to be carved into the coin are actually Chinese chop marks. These were the only silver coins to circulate through Asia during the 18th century. Each merchant would strike their own "seal of approval" of sorts by chopping a Chinese character into the coin. The problem was that every merchant felt compelled to do this despite the presence of other chop marks. These coins would have made their way to China via the trade that occurred between Europeans, namely the British East India Company and the Dutch VOC (East India Company), and China. The British and Dutch wanted goods such as tea, porcelain china, and spices from the Chinese, but the Chinese didn't want European goods (except, on occasion, for eye glasses and clocks). Rather the Chinese usually just wanted Silver. The silver that was readily available to European trading companies was Spanish silver that had been mined and minted into coins in New Spain and shipped to Europe. Rather than invest their silver into public works projects or other ventures that would have been beneficial to the Spain, all of the silver was often spent on deals between the Spanish and Dutch or British governments (when they weren't at war). So the British and Dutch had tons of these coins at their disposal to invest in trade or other ventures. 8 Reales were often sent during the 18th century to British colonies, such as New England and the Australian colonies, as a usable currency. 8 Reales became very well known where they were used as provisional currency, and this can still be seen to this day. For instance, the dollar sign is actually based on the left pillar on the reverse of the coin. Also, referring to a quarter as "two bits" is derived from terms used for this coin. Indeed, a bit equals a reale.
I must admit that I am not certain how your coin with chop marks would have ended up in the woods in the US. Maybe someone lost it or hid it there in recent years. Either way, your coin was delivered to China by one of the major European trading companies and somehow found its way here.

mleechap- I know just what you mean. I am a major piece of 8 enthusiast and love those which have chop marks. They add history and a relative location of their circulation. What is funny is that a lot of coin dealers in the US think that chop marks are just vandalism, but devoted collectors know better.
I hate to ask, but was your coin cleaned in the past? It seems to have an unnaturally bright surface given the condition, or is it just the picture?

mleechap - sure thing. Just glad to help.