This is an example of a coin that is quite common in worn condition, but very rare in well preserved condition. For many dates (especially the 8 reales), the Standard Catalog of World Coins does not list values for coins with less wear than average circulated (Very Fine) condition. There are just not enough well preserved and uncirculated coins available to establish value.
The coin in our picture is a rare exception. It is fully uncirculated and carries a pleasing rainbow toning. It was sold by Goldbergs in Beverly Hills for $1650 US dollars during a 2008 auction. Today, I'm sure, this particular coin would be worth much more. CoinQuest thanks Ira and Larry Goldberg for use of their coin photo. It's really cool!
Here is what the catalog says for worn and average circulated coins:
2 REALES (VALE DOS REALES at top of wreath)
average circulated: $200
well preserved: $600
Some coins are more common than others, and are worth less. The following values are for 2 reales in average circulated condition:
1840, 1843, 1844 RS: $25 avg. circulated
1840 RU: $100
1842 VU: $30
1843 UM: $90
1844 UM: $30
There is also one *special date* of 2 reales, 1839, with the RS mint mark:
1839 RS: $85 worn, $425 average circulated, $775+ well preserved
8 REALES (VALE OCHO REALES at top of wreath)
worn: $40 US dollars approximate catalog value
average circulated: $100
All 8 reales coins are worth approximately the same, with no special dates to mention.
The Republic of New Granada consisted primarily of present-day Colombia and Panama with smaller portions of today's Ecuador, and Venezuela. It was created after the dissolution in 1830 of Gran Colombia, which encompassed much of northern South America and part of southern Central America starting in 1819.
The dinero was the currency of the Christian states of Spain from the 11th century. It was copied from the French denier and the Portuguese dinheiro. In most of Spain, the dinero was superseded by the maravedí and then the real as the unit of account. In modern Spanish, 'dinero' means 'money'.