Spanish New World Silver 8 Reales COB, MEXICO, PHILIP IV, with Chinese CHOP MARKS
A very nice example, Spanish New World Silver 8 Reales COB.
Mint; oM, Mexico City
Date; nv., circa. 1621-1665.
Reign; PHILIP IV
ASSAYER; P ?
Weight - 27.3 grams.
Note; has Chinese chop marks and one side is bent up.
Some History: From Wikipedia.
Chop marks on coins are Chinese characters stamped or embossed onto coins by merchants in order to validate the weight, authenticity and silver content of the coin. Depending on particular technique coins said to have been "chopmarked", "countermarked" and "counterstamped".
Starting with the 18th century, a number of European, American and Japanese silver coins (generically known as the trade dollar) began circulating in the Far East. Each merchant's firm had its own mark and, after heavy circulation, the design of the coin became completely obliterated by the chop marks.
Chop marks were also used on copper-alloy Chinese tokens from the province of Jiangsu at the time of the Taiping Rebellion, these tokens were usually issued by local authorities and could only be used to pay local merchants, tax collectors, local banks, and other local businesses during this period.
The practice lasted until China demonetized the silver coins in 1933.