1783-Mo Mexico City 8 Reales EL CAZADOR Shipwreck w/Original Green Tag

Description

1783-Mo Mexico City 8 Reales EL CAZADOR Shipwreck w/Original Green Tag
-  Original Patina as Pulled from The Gulf of Mexico
-  Original Green Tag and Certification Number Included (moved Coin to Non-Mylar Holder)
The
El Cazador
(meaning
The Hunter
in English) was a Spanish
brig
that sank in the
Gulf of Mexico
in 1784. In the 1770s the Spanish Louisiana Territory’s economy was faltering due to paper money that was not backed by silver or gold. Carlos III, King of Spain, decided to replace the worthless currency with valuable Spanish silver coins.
[1]
On 20 October 1783
Charles III of Spain
sent her on a mission to bring much-needed hard currency to the Spanish colony of
Louisiana
in order to stabilize the currency. The ship sailed to
Veracruz
, Mexico, where she was loaded with approximately 450,000
Spanish reales
.
[2]
To be more precise, she was loaded with silver Spanish coins, mostly 8 reales, “Pieces of Eight,” It carried 400,000 silver pesos and another 50,000 pesos worth of smaller change, of various dates. At one ounce to the peso, and 12 troy ounces to the pound, that's 37,500 pounds of silver.
[3]
King Carlos III enlisted his most trusted captain, Gabriel de Campos y Pineda, to command the ship.
[4]
On 11 January 1784, she sailed for
New Orleans
, and was never heard from again.
[5]
[6]
Spain’s attempts to locate the ship were unsuccessful and in June 1784,
El Cazador
was officially listed as missing at sea.
[4]
Then on 2 August 1993, the trawler
Mistake
, Captain Jerry Murphy and home port
Pascagoula, Mississippi
, was fishing in the Gulf of Mexico fifty miles south of New Orleans. As it fished,
Mistake
'
s net hung on a snag. When the crew hoisted the net and dumped the contents on the deck, they found the net was filled with silver coins. The coins bore markings from the Spanish mint in Mexico, along with the date 1783.
[7]
[8]
Treasure from the ship was originally housed in a safe at the old Grand Bay State Bank building in
Grand Bay, Alabama
. In December 2004 the Executors of the Reahard estate hired Jonathan Lerner of Scarsdale Coin to appraise the coins. This appraisal was completed in February 2005.
SPECIFICATIONS
Composition:
Silver
Fineness:
0.9030
Weight:
27.0674g
ASW:
0.7858oz
Melt Value:
.86 (7/5/2021)
DESIGN
Obverse:
Armored bust of Charles III, right
Obverse Legend:
CAROLUS • III • DEI • GRATIA •
Reverse:
Crowned shield flanked by pillars with banner, normal initials and mint mark
Reverse Legend:
• HISPAN • ET IND • REX • ...
NOTES
Ruler:
Charles III
Note:
Mint mark M, Mo.