Spain Spanish Colonial 1/2, 1, 2, 4, and 8 Reales (Carolus III and IIII) (Fakes are possible) 1772 to 1808

These coins are known as Spanish (Hispan) colonial coinage because they circulated freely in the many New World colonies of Spain. You can find essentially the same coins in Bolivia, Chile, Columbia, Guatemala, Mexico, Peru. The coins from Mexico carry the distinctive Mo or oM mint mark -- a small 'o' set over a large 'M'. Coins from Chile bear an So or oS mint mark for Santiago, Chile. There are many other mint marks, as explained below.

These are wonderful collectibles, and some collectors specialize in Spanish Colonial coinage. It is a fascinating subject. Similar coins, with the likeness of King Ferdinand VII, appear on this CoinQuest page. You must also be on the lookout for fakes, and shown on this CoinQuest page and at the bottom of this page.

We have a comprehensive page devoted to Spanish colonial coins. See this page [PRESS HERE].

There are many numismatic (coin collector) twists and turns with these coins. If you have a nice-looking example, use this page for a quick check, but be sure to seek out a full coin catalog and a professional numismatist or a knowledgeable collector for final evaluation.

King Charles (Carolus) of Spain shows on the front of the coins covered on this page. Carolus III reigned from 1759 to 1788, and Carolus IIII (or IV) reigned from 1788 to 1808. The backs of these coins look the same, with a crowned shield and two large pillars on either side.

The first step in evaluating these coins is to determine their country of origin. See details to the right.

In addition, you can tell the denomination of the coin by the 'R' marking: R = 1/2 real, 1R = 1 real, 2R = 2 reales, 4R, and 8R. These old reales denominations are those that lead directly to American denominations of nickel (1/2 real), dime, quarter (2 reales), half, and dollar (8 reales) today. Gold coins with similar designs are called escudos (click here for escudos).

Special lettered marks are known as Assayers Initials. Typically these are two letter sets such as FM, MF, FT, and TH.

To evaluate your coin, look first at the general values below. If your coin is 'normal' and has a common date, mint mark, and assayer initials then the GENERAL VALUES apply. Coins with SPECIAL VALUES are shown below the general listings.

All listings give very approximate catalog values for coins that worn, but free of problems such as scratches, stains, spots, gouges, cleanings, scrapes, scuffs, and the like. Use our Important Terminology page to convert these catalog values to actual buy and sell values.

1/2 REAL CAROLUS III GENERAL VALUES (18 mm diameter)
worn: $10 US dollars approximate catalog value
average circulated: $70
well preserved: $15

1 REAL CAROLUS III GENERAL VALUES (20 mm diameter)
worn: $20 US dollars approximate catalog value
average circulated: $60
well preserved: $100

2 REALES CAROLUS III GENERAL VALUES (25 mm diameter)
worn: $25 US dollars approximate catalog value
average circulated: $75
well preserved: $135

4 REALES CAROLUS III GENERAL VALUES (33 mm diameter)
worn: $80 US dollars approximate catalog value
average circulated: $220
well preserved: $500

8 REALES CAROLUS III GENERAL VALUES (38 mm diameter)
worn: $100 US dollars approximate catalog value
average circulated: $200
well preserved: $300

1/2 REAL CAROLUS IIII GENERAL VALUES (18 mm diameter)
worn: $10 US dollars approximate catalog value
average circulated: $50
well preserved: $90

1 REAL CAROLUS IIII GENERAL VALUES (20 mm diameter)
worn: $15 US dollars approximate catalog value
average circulated: $50
well preserved: $90

2 REALES CAROLUS IIII GENERAL VALUES (25 mm diameter)
worn: $25 US dollars approximate catalog value
average circulated: $70
well preserved: $120

4 REALES CAROLUS IIII GENERAL VALUES (33 mm diameter)
worn: $60 US dollars approximate catalog value
average circulated: $160
well preserved: $450

8 REALES CAROLUS IIII GENERAL VALUES (38 mm diameter)
worn: $60 US dollars approximate catalog value
average circulated: $130
well preserved: $200

SPECIAL VALUES depend on the country of origin. You must find the mint mark to determine the country of origin (see table above). The values called out below are for coins in average circulated condition.

1/2 REAL SPECIAL VALUES
Bolivia 1778PR with no 'A' in 'CAROLUS': $500
Chile 1773DA: $200
Colombia all dates 1772 to 1773: $5000
Colombia all dates 1775 to 1784: $5000
Guatemala 1799M: $300
Guatemala 1808M: $150
Mexico 1773 with CAROLUS spelled CAROLS: $250

1 REAL SPECIAL VALUES
Chile 1803FJ: $150
Colombia all dates and conditions before 1816: about twice general values
Guatemala 1779P: $200
Mexico 1788FF: $200

2 REALES SPECIAL VALUES
Bolivia 1825J: $250
Colombia 1772VJ: $800
Colombia 1784JJ: $800
Colombia 1814JF: $400
Mexico 1784FM: $300
Mexico 1784FF with DEI GRATIA spelled DEI GRTIA: $200
Mexico 1786FF: $500
Peru 1772JM: $250
Peru 1774JM: $500

4 REALES SPECIAL VALUES
Bolivia 1788JR with REX spelled NEX: $700
Bolivia 1789PR: $500
Bolivia 1809PJ: $300
Chile all dates and conditions before 1800: about twice general values
Guatemala 1808M: $650
Mexico 1784FM: $350
Mexico 1785FM: $350
Mexico 1796FM: $400
Mexico 1802FT: $500
Mexico 1803FM: $500
Peru 1752J: $650
Peru 1753J: $500
Peru 1763JM: $500

8 REALES SPECIAL VALUES
Bolivia 1789PR: $400
Chile all dates 1773 to 1783: $4000
Chile all dates 1784 to 1792: $1500
Chile 1800AJ with no 'A' in 'CAROLUS': $5000
Guatemala 1773P: $1200
Guatemala 1776P: $2500
Guatemala 1780P: $1200
Guatemala 1781P: $900
Guatemala 1782P: $1800
Guatemala 1783P: $1000
Guatemala 1786M: $1000
Guatemala 1790M: $1200
Mexico 1772MF: $700
Mexico 1783FM: $7000
Mexico 1784FF: $500

In the bluish toned example sent to CoinQuest by a fellow named Ron, you can see several chop marks on the front of the coin. These marks were likely struck into the coin by a merchant in New York or San Francisco to indicate that the coin is a good one, not a fake. I personally like chop marks and will pay a small premium for them. To me they add interest to an already intereting coin. Many collectors, however, feel chops degrade the coin.

Use our Important Terminology page to correctly interpret the values shown here.

Finally, valuable coins are always subject to counterfeit. These coins are no exception. The image below shows a side-by-side comparison of real and fake 1776 8 reales. Several discrepancies are readily visible. Not all counterfeits are so obvious.