That is Ferdinand VII, King of Spain on your old coin. These are more common that one might think, but coins in good shape, with lots of detail, nice surfaces, and no problems (scratches, stains, corrosion, cleanings) are worth much more than the coins you normally see, which are well worn.
The denomination appears near the King's chin. Here are some stats:
2 MARAVEDIS (18 mm diameter)
worn: $5 US dollars catalog value
average circulated: $15
well preserved (like our picture): $30
4 MARAVEDIS (24 mm diameter)
average circulated: $20
well preserved: $40
8 MARAVEDIS (32 mm diameter)
average circulated: $25
well preserved: $50
See our important terminology page for information about converting catalog values to real values.
The coin system in the United States is pretty much based on old Spanish coinage. The old Spanish 8 reales coins (pieces of 8) turned into US silver dollars. Maraverdis are fractions of the reales denomination. At the time of Ferdinand VII, there were 34 maravedi in one real.
Our picture shows a beautiful example of an 8 maravedis. It comes from the web site called Maravedis.net, a cool site with all things maravedis. CoinQuest thanks Maravedis.net for use of their coin photo. It is a beauty!