This piece is paired with a replica Spanish 1 reale coin from the pieces of eight collection, which has become very famous, especially since featured in The Pirates of The Caribbean Disney movies).
The original silver coins, came from a Spanish galleon ship with sunk into the ocean doing a storm off the Florida coast in 1715; they were recovered by Kip Wagner in 1962. They were among the first coins struck in America. Struck is when silver is crudely hammered into bars or sheets, cut down and balance-weight to correct weight and then hand struck.