Peru 1723-L M 8 reales
Cob eight reales were struck at the Lima mint 1701-46 for Philip V of Spain and became the "pieces of eight" of pirate lore. Specimens with legible dates bring triple those without. The fineness was lowered from 0.931 to 0.917 in 1725.
The specimen shown was lot 521 at Cayon Subastas auction held February 4, 2012, where it sold for 220 euros (about $342 including buyer’s fees). The catalog description noted, "Lima. 8 reales. 1723. M. MBC/BC. (Lima 8 reales 1723-M. Fine/very fine.)"
Recorded mintage: unknown.
Specification: 27.07g, 0.9310 silver, 0.8102 oz ASW. This specimen 26.2 g.
Catalog reference: KM-34; Cayón-9287.
- Cayón, Adolfo, Clemente Cayón and Juan Cayón, Las Monedas Españolas, del Tremis al Euro: del 411 a Nuestros Dias, vol. 1, Madrid: Cayón-Jano S.L., 2005.
- Cayon Subastas, Auction February 2012: Highly Important Collection of Spanish and Latin American 8 Reales and other Coins from the Spanish Empire, Madrid: Cayon Subastas, 2012.
- Michael, Thomas, Standard Catalog of World Coins, 1701-1800, 7th ed., Iola, WI: Krause Publications, 2016.