NGC verified "genuine" 8 Reales value?

Hello,

I was thinking about buying this coin. It is verified by NGC, but I cannot find any reference for its worth. NGC does not give an estimate of worth as well. I know it is a shipwreck coin. Any help is appreciated. 

It's this one:

N#15059

Unfortunately, they are not terribly valuable.

I bought one a couple of years ago for $80 - NGC Genuine  and it came in a fancy wooden box with a certificate.

Mine is dated 1783.

The one in your picture doesn't appear to have a date.

How much are they asking?

Hi all,

It is interesting to see a more or less common mexican coin, almost illegible, worn and corroded by seawater “encapsuled” and “verified” by NGC, only because it supposedly comes from a shipwreck … .

I wouldn't buy it.

Regards

Thank you both for you opinion. So it is NGC verified to be a surviving coin from the El Cazador shipwreck in the 1770s of which there is about 44,000 of these onboard. 

The guy wants $130 for it. I don't think I will buy it now. It is an interesting piece of history though.

Loads of them on ebay, in NGC slabs and otherwise.

Bullion value.

Since you are in the US can easily find it's worth by going to the eBay website, and doing a Sold Items search, using the search terms “Cazador 8 NGC”.  Then order your search so that the lowest selling price is at the top of the list.  I got 148 items in this search.

Even coins that are not much more than a slug will get at least double bullion value.  

There are coins with illegible dates in similar condition that have sold for slightly over $100.

Those findings are consistent with the comments of DSC07625

To the Numista team, to clarify, I am a collector of cobs, Spanish Imperial silver, and Mexico since the 1970's.   How I value coins is based on that.  I do not consider “value” to be set by what is paid sometimes on eBay, or a slab.    People pay hundreds of dollars for fakes.   I do not want shipwreck silver at all because of condition.   There are plenty of fake plastic slabs too.   I do have what I consider “nice” examples of better Mexico purchased at bullion value or a slight markup, just because a piece was holed in its original circulation.    I'm not a stickler for AU over VF, but will take them if the price is right.   Most of my common date cap and rays were under $10.   I understand all that is probably irrelevant to someone wanting examples of various famous wrecks.  Just letting them know people like me are here. 

All good… “Value” and “worth” are subjective terms, and collectors use the terms differently.

When a poster is interested in either buying or selling, I interpret the usage as “market value" and try to guide them to resources and info.

From a personal viewpoint, I am also not interested in salvage coins (though I have intentionally collected coins with other kinds of defects like planchet flaws because I felt they were typical of the era), and I don't like coins in slabs.   

To each their own.  This place would get boring if we all think alike 😉.