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41/2 Bits Counterstamp on Peru 2 Reales KM# 76

Issuer Saint Vincent and the Grenadines
Year 1811-1818
Type Standard circulation coin
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Obverse script Latin
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Reverse description The reverse of the host Peruvian 2 Reales displays the Spanish royal coat of arms, composed of the quartered castles and lions of Castile and León, set between the two crowned Pillars of Hercules with scrolling banners. The whole is encircled by a Latin legend identifying the monarch, the mint city of Lima, the denomination, and the assayer's initials. The design is typical of the Lima Mint coinage of Charles III, struck in the macuquina or milled style, and shows considerable wear consistent with extended circulation prior to counterstamping.
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Additional information

Saint Vincent's chronic shortage of small change in the early nineteenth century prompted colonial authorities to authorize counterstamped Spanish colonial coinage as a stopgap. The Peruvian 2 reales host was a logical choice — widely circulating throughout the Caribbean at the time — and the crowned "4½" punch converted it to a locally denominated 4½ bits, aligning with the island's bit-based accounting system rather than the Spanish real.

Genuine examples vary considerably in strike quality for the counterstamp itself, a known issue with hand-applied punches of this period. Forgeries were documented almost immediately after authorization.

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