Watch List notes:

BRITISH HONDURAS. British Honduras - Mexico. Dollar (6 Shillings 1 Penny), ND (ca. 1818-20). PCGS EF-45 Gold Shield; Countermark: EF Details.
KM-stamp not listed; Prid-stamp not listed; Roehrs Collection Pt.1-Lot # 6(same stamp); Byrne Collection-Lot # 1379(same stamp); Medina-Pg.224(same stamp). Incuse crowned block letter's "GR" countermark on an 1818-MoJJ Mexico 8 Reales of Ferdinand VII. SCARCE countermark variety. Countermark somewhat crude in style and slightly unevenly applied to the obverse. An attractive representative of the type with light golden-grey to rich slate grey on the obverse while the reverse displays a more even slate grey with a slight iridescent sheen in the protected areas. An interesting variety from this enigmatic issue sure to add depth to the next collection it enters.

Unfortunately, due to the lack of official contemporary documentation the attribution to British Honduras is uncertain. Famous collector and author Major Fred Pridmore speculates that the merchants of the settlement applied the various crowned "GR" countermarks to dollars for trade with the indigenous Indian tribes between 1810-1818. Prior to 1810 the primary barter item with the Indians were cutlass blades stamped with "GR" in an attempt to continue trade, it is believed that a similar mark was applied to dollars mark to dollars continuing the accustomed unit of value. Stamping coins in this manner would not require official authority since it wouldn't have affected their currency value in the settlement.

From the Kyle Ponterio Collection.

Estimate: $400.00- $600.00