High Grade 8 Reales Chopmarked in Asia

This 8 reales, like many Mexican, South American and Spanish 8 reales coins, were highly desired by Asian merchants. Silver was in demand into the 20th century and a great deal in the 17th through 19th centuries. Merchants always wanted coins with the intrinsic value of silver. Based on the number of coins that eventually came back to the U.S. (or Mexico...or Peru...or...) one has to assume most were melted in Asia.

The U.S. created trade dollars specifically for the overseas trade and many can be found in U.S. coin collections with an array of chopmarks. Some of the coins no doubt were eventuallly used for trade back to western countries, as well.

The chopmarks represent specific individual merchants who marked their coins as having been in their possession as well as confirming that they were silver. And of course, well-known coins such as 8 reales and U.S. trade dollars were sought after by Asian merchants who could rely on their silver content.