8R 1838 North Peru Coin.

Personally, I think you got a great buy.

This is one of those coins where a Contemporary Counterfeit would be worth considerably MORE than a comparable original. In addition, I have not yet encountered a Modern Forgery of this date.

So at $49 - you likely have made a very good deal - provided it is NOT a BRAND NEW CHINESE COUNTERFEIT.

On the POSITIVE SIDE:

The die design is absolutely CORRECT.

The edge design and application is also CORRECT and very typical of the originals I have examined.

The dies show normal signs of wear and the strike appears to be made in an open collar press - based on slight eccentricity and flow erosion at the perimeter.

There is a clear die clash that causes most of the die oddities - including the extra lines and letter impressions.

The "missing" letters appear to be normal filled die issues.

On the NEGATIVE SIDE:

The weight is slightly suspicious - 2% overweight. That is very near the limit of acceptability and given the obvious wear - it is doubly suspect. But it is NOT so overweight that it can not be real.

Clearly there appears to be added metal (possible spurs) on the edge of this coin. These do occur on originals but there are 2 problems here. First they appear to obscure part of the edge design as if "possibly" they are traces of a casting seam (especially near the "M 8R". Second, most extraneous spurs are removed at the point of final weighing so that they do not effect final weight. This is a SERIOUS NEGATIVE that needs to be reviewed closely. Look for specific attempts at filing a seam off the coin.

This coin has a few suspicious "lumps" in the field and on the designs where they should not be. This could be die rust and many Lima dies are rusty - so it is an issue but not too serious. The lumps should be examined closely as should the design areas themselves to MAKE SURE it is cut properly.

So - that is the analysis as I see it based on the pictures only. If the coin exhibits the CORRECT SG for 0.903 fine silver (10.31) - then I would tend to believe it is REAL. The problems are, with the exception of a possible edge seam, are all clearly in the realm of possibility and I know of no forgeries of the date.

Once the SG is established as correct and the edge is confirmed as having NO seam - then I would accept the coin as REAL with no reservations.

After collecting the research for this short-lived state of North Peru coin the value of it is priceless to me. Thank you for your help.
The mount of this coin probably was not removed recently and I do not think the coin was used as jewelery (not polished nor scratched).
The seller himself probably did not notice the altered edge (at least I hope so :).
The time I will sell my coins (I will definitely mention the altered edge) will be for the education of my future children. For now it is the most interesting hobby and investment I ever had.

Thank you again for sharing.
Can't wait for your books to come out.

Boris