elf Peru Spanish 8 Reales 1818 LIMAE JP

Description

KM 117.1, 13 year type, issued while the area was under Spanish control. Peru declared its independence from Spain in 1821, but the last Spanish Army in South America was not defeated until November 1824. (Spain did not recognize Peru's independence until 1879.) Silver crown, with the King of Spain on the obverse.
The mintmark is a monogram of the letters LIMAE.
Like all other Spanish colonial silver, this coin was legal tender in the United States until 1857. The Spanish 8 reales was the basis for the U.S. dollar. A real was also called a "bit" (especially when a coin was cut to make change); this is why a U. S. quarter dollar is sometimes called "two bits".
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12/7cs101