This fascinating 2 reales silver coin is part of the cargo recovered from the famous and historically important wreck of the Spanish warship El Cazador. The coin is dated 1783. The Spanish 2 reales and 8 reales coins widely circulated in Canada and the United States, and were the most widely used currency in circulation during the late 1700s and early 1800s.

The vast majority of the coins recovered from the El Cazador were 8 reales coins, with only a very small percentage of the coins being the smaller and now much rarer 2 reales denomination. While this coin shows signs of being under the ocean for over 200 years, it has been carefully selected as one of the highest-quality surviving examples from this famous wreck.   

The reverse design features a coat of arms and ribbon over pillars. The two hemispheres, or old and new worlds, are crowned and represented between the crowned pillars of Hercules; many of the Spanish colonial coins feature this famous design. The "S" shape formed by the ribbon over the line formed by the pillar is widely regarded as the origin of our "$" dollar symbol. The obverse design features an effigy of Spanish King Carlos III, who reigned from 1759 to 1788.

The loss of this vessel was part of a series of events that dramatically altered the destiny of both Spain and the United States. On January 11, 1794, El Cazador sailed from the port of Vera Cruz, Mexico, for New Orleans carrying 450,000 pieces of minted silver coins. The vessel and her crew disappeared into the winter seas without a trace. The Spanish sorely needed this shipment to stabilize the weak monetary system in their colonial Louisiana. Without the silver to sustain it, Spain's ability to profit from the territory collapsed and never recovered. Eventually, Spain lost Louisiana to France's Napoleon, who sold 828,000 square miles to the young United States in 1803 for the sum of $15 million dollars.

On August 2, 1993, the wreck site of El Cazador was accidentally discovered by Jerry Murphy, the captain of a fishing vessel named Mistake. The discovery of El Cazador's lost treasure provides a unique opportunity to own a coin from "the wreck that changed the world."

About King Charles III
Charles III was King of Spain, after ruling Naples as Charles VII and Sicily as Charles V. He was the fifth son of Philip V of Spain, and the eldest son of Philip's second wife, Elisabeth Farnese. As King of Spain, Charles III made far-reaching reforms such as promoting science and university research, facilitating trade and commerce, and modernizing agriculture. He also tried to reduce the influence of the church and avoided costly wars. His previous experience as King of Naples and Sicily proved valuable. He did not achieve complete control over the state's finances and was sometimes obliged to borrow to meet expenses. Most of his reforms proved to be successful and his important legacy lives on to this day.

Early Coinage in Canada
From the time of the earliest European settlers in pre-Confederation Canada to the mid-1800s, chronic shortages of coinage hindered commerce in the New World. Canada was a French colony from 1600 to 1760, and a British colony from 1760 to 1867, so the governments of France and Great Britain assumed responsibility for coinage in their colonies. However, trade imbalances, economic conditions, hoarding by colonists, and a general disregard for the needs of the colonies by France and Great Britain resulted in many other coins being used for commerce.

The most important coins circulating in Canada from 1650 to 1840 were Spanish colonial 8 reales and its divisions. By the mid-1600s, the Spanish 8 reales, or "piece of eight," had become the trade standard of the world. During the French regime, Spanish colonial coins and French colonial coins circulated side by side. During the British regime, most transactions requiring payment in silver coins would have used Spanish colonials. 

These Spanish colonial coins have also laid the foundation for the coinage adopted by Canada after Confederation. The 8 reales is the predecessor to the one-dollar coin, the 4 reales is the forerunner to the half-dollar, the 2 reales was similar to the quarter, the one reale about equal to a dime, and the 1/2 reale was the predecessor to the early five-cent coins. Coins used in Canada were struck in Mexico, Peru, Bolivia and Guatemala.
 
Includes: 
• 1783 Spanish Colonial 2 Reales Silver Coin from the Famous El Cazador Shipwreck