Only seven examples of the 1787/6 Lima overdate 8 Reale have been certified by NGC, and this one stands as the finest of them all. Struck at the Lima mint under assayer MI, it shows the clear overdate where the final 7 was punched over an earlier 6. Across the wider Lima 8 Reale series of Charles III, just 64 coins have been graded, with only six reaching MS-64 and none finer. Most Peruvian silver of this era sailed to Spain or on to Asia and was spent hard or melted, so a fully Mint State survivor of this date is a genuine rarity. The coin also carries the Grundy Collection pedigree on the NGC label.

The obverse shows the draped and armored bust of Charles III facing right, his hair tied in a ribbon and the drapery rendered in sharp relief. CAROLUS III DEI GRATIA circles the portrait, with the 1787 date below, and the legends stand bold and complete. On the reverse, the crowned Spanish royal arms sit between the Pillars of Hercules, each pillar wrapped with its banner. The quartered shield displays the castles of Castile and lions of Leon, while HISPAN ET IND REX, the 8R denomination, the LM mint mark of Lima, and the MI assayer initials ring the design with strong device definition.

NGC graded this piece MS-64, a level the date has never surpassed. Satiny luster runs through the fields, and attractive russet and amber toning gathers along the rims on both sides. The surfaces are even and free of distracting marks, with a strike that brings up the crown pearls and shield details cleanly. For those seeking the single best known example of a scarce Spanish colonial overdate, backed by a named collection pedigree, this coin delivers.

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