1 Bit / 9 Pence Countermark

Grenada's chronic shortage of small change in the early nineteenth century led colonial authorities to authorize the countermarking of Spanish colonial reales, punching them to create fractional currency that could circulate at a fixed local valuation. The "1 BIT" stamp cut the piece's spending value free from its bullion origin, tying it instead to the island's informal bit system — a unit with no fixed metropolitan equivalent.

KM#12 is typically found on clipped or undersized host coins, which explains the light average weight for a piece nominally derived from a full real.