(Mar 30, 2016)
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France, Spain and England ventured on long voyages to expand their empires from the 1600' | | COLOR | rgb(179,74,32)">
1800’s and established colonies outside of their homelands
Usually the monarch or some other symbol of power from the initial country would be minted on these coins
The coins would also bear symbols and other devices that would tie the coin to that colony
The money would have some kind of fixed exchange rate with the mother country
Another way to keep the colony in line was to make the currency worth less than the money from the main country
No country was more successful in colonial coinage than Spain
Their coins had the richest content of precious metals of all the worlds'
Cob-style coins are divided into two basic groups based on their obverse markings: the "pillars and waves-type" and the "shield-type
" Their reverses typically bear a cross or a quartered shield with the arms of Castile and Leon
The silver reales coins came in the denominations of: 1/4,1/2,1, 2, 4, and 8 reales
Further snipping and chiseling produced the requisite weight at the expense of the coin'
s visual integrity, and later unofficial alterations to the cobs were rampant
At a depth of 100 meters they had uncovered the final resting place of the long lost Spanish brig, El Cazador, and its treasure of Spanish reale coins
The largest quantity of coins recovered was the 8 reale, also known as the Spanish milled dollar, or the Piece of eight
The Spanish 8 reale coin was known all over the world in the 18th century and had become the first international trade coin
On the coins obverse is a portrait of King Carlos III of Spain and the words
Below the portrait is the year the coin was minted
The inscription on the reverse of the coin reads "HISPN
REX" (King of Spain and the Indies) followed by the Mexico City mintmark, the denomination 8R (8 reale), and the assayer’s initials at the time of minting
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