Watch List notes:

GUATEMALA. 8 Reales, 1808-NG M. Nueva Guatemala Mint. Ferdinand VII. PCGS Genuine--Excessive Corrosion, VF Details.

KM-68; Cal-1223. The EXTREMELY RARE "Proper Bust" Type. A highly sought after and historically important type, despite the damage. On close inspection, the surfaces are better than one might expect, impaired mostly by the presence of charcoal-colored encrustation, in particular on the head of the king. But the strike quality is good and the significance of the issue keeps the collector value strong.

In 1808, there was no 'correct bust' of Ferdinand VII, and all the mints used the bust of Charles IV. By 1809, they began to experiment with transitional bust types, still not having an 'official' image to work with. The king's image used in this coin was only received by the mint in 1811, and it was in this year that a very few were struck, but back-dated to 1808, to reflect the first year that Ferdinand VII took the Spanish throne (and the original date of the Royal Ordinance for issuing of coins in the name of Ferdinand VII). The assayer is "M" for Manuel Eusebio Sanchez.

Estimate: $1000 - $2000