In the early Colonial period of American History the United States (not yet the US) had no mints established and it was common to use currency from other nations to buy goods that were not bought directly from Great Britain. The other national coinage included France and Spain and the Spanish King Charles III had ordered the minting and shipment of this Spanish silver to be delivered and used by Americans in order to further establish and concentrate his power.

This was at a time, after the Revolutionary War in which coincidentally these types of dollars helped the US finance, when Spain was the largest colonial power in the new World. Spain held the majority of what now belongs to the US, however, this would have never been possible if this particular ship had made it to port carrying the coinage to strengthen the Spanish presence.

The loss of this ship, and more importantly it's silver contents, forced Spain's financial hand and it was for this reason that Spain sold to the French what is now known as the Louisiana Territory. Later, of-course, the French sold this territory to the United States and this led to a major expansion west which would of otherwise not have happened if were not for the initial sinking of the El Cazador "The Hunter".

One can see that the significance of this coinage is not just 'mythical' or 'hyperbole' intended to increase sales through a carefully thought out and executed marketing plan. Although the marketing and distribution of these coins may have been questionable ( QVC television type marketing techniques) the fact remains that this coin did indeed play a major role in establishing the expansion of the United States Territory and what is The United States of America today.

Ironically this coinage held two historically significant and noteworthy elements. The first; this coinage helped the US gain independence from Great Britain and win the Revolutionary War through Spanish funding and two; the absence of this coinage through the sinking of the El Cazador resulted in the US purchase that resulted in expansion west.

For anyone to discount this coin as being of no historical importance is one being extremely naive to it's actual history or that of early American Colonial history. To hold one of these coins in your hand and examine it while bearing in mind that it had spent more than 200 years below the oceans surface is probably only something that a true history buff would appreciate fully. I wish all could experience the wonder.