Mexico 1796FM 8 Reales

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Coin Type:Mexico 8 Reales
Grade:Fine
Year:1796
Mint:Mexico
Metal:.896 Silver
Obverse:Armored bust of Charles IIIIĀ 
Reverse:Crowned shield flanked by pillars with banner

Probably ex-wreck / sea salvage.

For more information read The Australian Coin Collecting Blog article on Australian Proclamation Coins.