Spanish colony, Mexico, Philip V, 8 Reales, 1842/1, KM# 103. This piece of eight was apparently overstruck on another coin, however what is the underlying coin? It looks like from opposite side "PHILIP" and the "V" (center of MF). Though the coin looks original to the unaided eye, with a good lens the surfaces show a hint of roughness. We suspect it's a sea-salvaged example but with minimal corrosion and now pleasantly toned. The weight, approximately 26.8 grams (0.3 grams light), is consistent with it being salvaged. It's a nice example with the overdate & unusual underlying coin details.