1794 Charles IV 8 Reales George III Oval Counterstamped gEF

George III, Emergency Issue Silver Dollar

These emergency countermarked coins were struck by the mint in London to assist with a dwindling supply of silver coinage. An official value of  4 shillings and 9 pence was attributed to the newly counterstamped coins.

Counterfeiting became a common issue due to the simple nature of the counterstamp and ultimately the solution of completely covering Spanish Dollars with a new design was implemented in 1804 with the assistance of Matthew Boulton who was responsible for removing any residual presence of the original designs.

Due to poor public sentiment these coins were often described as "The head of a fool stamped on the neck of an ass"

Mint: Mexico City, Mexico

Obverse: Oval countermark of King George III facing right at centre of obverse bust of Charles IV, laureate and draped right, date below, Latin legend with toothed border surrounding: CAROLVS.IIII. DEI. GRATIA

Reverse: Crowned quartered shield of arms, pillar with ribbon motto either side: PLUS ULTRA, Latin legend surrounding: .HISPAN. ET IND. REX. M. 8R.F.M.

39 mm in diameter, 26.8 grams.

The countermark is Very Fine, host coin good Extremely Fine with beautiful toning.