A scarce 8 Escudos or 4 Doubloon, 21.6K gold, coin pendant, Mexico, circa 1772.
The Mexican gold 8 Escudos, is very similar to the Spanish 8 Escudos, the only difference, in many cases, being the mint mark. The Spanish version usually has a crowned M for the Madrid Mint, whereas the Mexican versions have an Mo monogram for the Mexico City Mint.
The Obverse shows a large armored bust of Carol III (King Charles III of Spain) who reigned from 1759 - 1788. The Legend: D G stands for Dei Gratia, by the Grace of God, and HISP ET IND means of Spain and the Indies. The reverse has the Spanish Royal shield flanked by 8 S. The phrase AUSPICE DEO IN UTRO FELIX translates roughly to under God's will we will happily prosper.
The largest gold coin struck was the 8 escudo piece more commonly known as the doubloon. This substantial coin has a diameter of 37 mm (1.46 inches) and weighs approximately 27 grams (28 grams including the pendant bail). It has a gold fineness of 0.9010 (approximately 21.6 karats) and gold content of 0.7841 Oz.
The coin is in excellent antique condition, maintaining much of its original luster. Please see the pictures for signs of melt damage to the reverse side of the coin. The family it was purchased from have a tradition that the damage was caused during a naval battle.
The Doubloon and their silver equivalent (pieces of eight) have become synonyms with pirates and their treasure. 8 escudos from 1772 and earlier, in fair or good condition, seldom comes to market as they are tightly held by collectors.