Mexico
Republic Caps and Rays 8 Reales 1831 Ca-MR XF40 PCGS, Chihuahua mint, KM377.2, DP-Ca01 ("Very Rare"). An attractive coin for the designation, with richly thick old patina and substantially lustrous surfaces underneath. The 1831 date was the first one struck at Chihuahua and is traditionally, and deservedly, included among the key issues of that mint, with only "a few better specimens ... known" as noted in Dunigan-Parker. This is such a specimen, equivalent to the J. B. Parker specimen (the plate coin in DP), and very desirable in this charming preservation.
Estimate: 2500-3000 USD