(sold for $67.0)

1895, Mexico (2nd Republic). large Silver 8 Reales "Cap Dollar" Coin. Zacatecas!

Mint Year: 1895 Denomination: 8 Reales Mint Mark: Zs (Zacatecas) Reference: 1891-ZsFZ, KM-377.13. Condition: Chop-marks in fields, light deposits and small scratches, otherwise XF-AU! Material: Silver (.903) Weight: 26,99gm Diameter: 39mm

Obverse: Phrygian cap with "libertad" inscription, with 32 light rays. Legend: * 8R . Zs . 1895 . F . Z . 10 Ds . 20 Gs .

Reverse: Eagle with a snake in its beak, standing on a cactus plant, sea waves below. Legend: REPUBLICA MEXICANA (terminated by olive and oak branches)

Portuguese merchant ships first arrived on the     Chinese coast in 1517. The traders came to buy luxury goods such as silk     and porcelain, for which the Chinese favoured payment in silver. As a     result, during the eighteenth century European silver coins were     exported to China in great quantities, through trade. At one stage     almost the only coins used in southern China were European silver coins.     Most of this silver was Spanish, much of the metal coming from the     Spanish silver mines of the New World. In order to increase trade, the     Spanish colonial administration at Manila in the Philippines arranged     for silver coin from her American colonies to be shipped directly to     Manila. The best known of these coins were the famous 'pieces of eight',     the 8 reales piece. Chinese merchants in Manila then carried the   silver   coin to China where it circulated, mainly in the south-east.   The use of   silver coins in Chinese trade continued well into the   nineteenth   century, when silver dollars were often melted into ingots   to provide   payment as tax. Chopmarks on this 8 reales piece indicate   that a Chinese   money-changer has tested the quality of the silver.   Forgeries were a   common problem and cutting into the coin showed   whether it was solid   silver or just silver coated.

J. Williams (ed.), Money: a history (London, The British Museum Press, 1997)

W. Bertsch, 'Chinese chops - a bibliographical     survey of Western publications', Oriental Numismatic Society In, 29     (January 1998)

The successful revolt of the Spanish colonies in America, did not stopped the Spanish dollar to dominate the Eastern trade, and the peso of 8 reales continued to be minted in the New World. The coin was sometimes called a Republican dollar, but eventually any peso of the old Spanish 8-real standard was generally referred to as a Mexican dollar, Mexico being the most prolific producer. Mexico restored the standard of 1772, producing a coin of 27.073 g, 0.9028 fine, containing 24.441 g fine silver (the mark weight of the Mexico City mint was very slightly heavier than the standard mark of Spain).