The 1809 Mexican 8 Reales was an important silver coin that was minted and circulated more than 200 years ago. It has become exceedingly rare and is coveted by collectors with an interest in the history of Mexican coinage.

Origins of the 1809 Mexican 8 Reales Coin

The Mint of Mexico has existed in various forms for nearly five hundred years. Over the centuries it has produced many different coins, some of which were designed for general commerce while others were struck for collectors or investors.

The earliest incarnation of the Mexican Mint was established by the conquistadors, who came to Central and South America from Spain in the hopes of finding silver and gold. The conquest of the Aztec Empire and the capture of its vast wealth meant that the colonists needed a way of organizing and managing it.

Antonio de Mendoza was given authorization by the Crown of Spain to establish the Mint of Mexico during 1535. This makes it the oldest mintage in the Americas still in operation today. The success of this institution stems from many factors. While the conquistadors are commonly associated with gold, in truth Mexico also had large amounts of silver, which was also important, as it allowed the Spanish and later Mexicans to export coins to North America where they were valued for their craftsmanship.

Features

One of the most important innovations was the creation of the Dolar Espanola (Spanish Dollar), which was nicknamed “Piece of Eight.” It was circulated throughout the Americas and for a time would be considered legal tender within the U.S. for nearly one hundred years after the nation gained independence from Britain. Its design was so successful that it inspired other New World mints in the creation of their coins, and the name “peso” would go on to be used for the currency units of most Latin American countries.

Once Mexico gained its independence from Spain, their mint faced a number of challenges. The post war period was one of considerable anarchy, which meant the government could not effectively keep control of the entire nation’s territory. This prevented the Mexican Mint from being able to design and distribute coins.

The mint overcame this obstacle through dividing the production across numerous smaller workshops that were located in various parts of the country. One of the most prominent was at San Luis Potosi, which still exists today and produces most of Mexico’s coinage. Once the country started to stabilize during the postwar period, demand became so high that some production needed to be carried out by foreign mints.

Coin Highlights

The 1809 Mexican 8 Real is a lovely silver coin that displays Emperor Ferdinand VII. Due to the number of years that have passed since its inception, it has become difficult to find, especially in NGC Mint State condition. This particular coin was struck in the mint of Mexico City and has a grade of Extremely Fine 45 via NGC. It manifests the classic darkened grey silver tone with extra color beneath its darkened patina, and produces a nice luster with sharp visual detail. It contains .9030 fine silver with a weight of 26.9 grams.