hey gang! i dont know much about these but i picked it up from the same gentleman from whom I purchased the thalers last week... anyone help me on this one?

This is the best I could do for you. I wasn't able to find that specific piece or the error that ensued. http://en.wikipedia.org/wiki/Spanish_dollar

Ian knows these a lot more than myself so we will have to wait for him. But they were referred to derogatorily during that time as "The head of a fool stamped on the head of an ass", no endearment to the British or Spanish monarchs obviously.

I hope no one takes offense, but that's hilarious.

Spanish American 8 Reales overstruck to form a George III Bank of England Dollar.

Oval countermark, Emergency Issue of 1792. Looks like Mexico City mint and so, in that condition, you'd be looking at about $600-700.

Kindest Regards,

Clive.

Ou est le mint mark?

Look to the left of the bottom of the left pillar, there is an M with an o above, this means Mexico City mint.

Clive.

Tanks! That's what I thought it was!

Minor correction - ".... on the neck of an ass" is the correct quote. Quite a nice example though, I think it might even be worth a bit more than YeOldeCollector suggested. I'd get that one slabbed. Quite uncommon to find the counterstamp itself that nice.

More than likely this Spanish dollar was captured by the English Fleet from a Spanish Treasure Galleon, and returned to England. The coin was assayed, and stamped with the King's Portrait which made this coin lawful to circulate in England as the King's Emergency Currency.

That's a very handsome piece, and $600 is likely a low estimate. The Counterstamped pieces make the original coin more valuable.

One reference (I don't know if it is good or bad) can be found here.

Im thinking I may send it in... I just joined the NGC collectors club and have 5 free submissions... this may be one of them.

I just re-read my post above. The good or bad referred to the reference and not your coin (if that is how it read). Your coin looks mighty good to me and the reference noted the purpose of the counterstamp. The counterfeits he shows are meant to illustrate that the coins were being forged at the time and must, therefore, have been circulating but unfamiliar to many. Your's appears to be a spectacular piece.

I'm continually impressed with the quality of coins that walk into your store. Is there some local secret collector's society where they only bought great coins?

I go through tons of junk before I ever get a good one. Its like panning for gold... most of the stuff i get gets tossed in a box and sorted out later. If I buy a collection I may only keep a couple of coins if any at all....

Otherwise you could not be in business, it would be too difficult to be too much of a collector if you are a dealer.