Gibraltar (with links to Dominica), Type IV, c. 1765, Eleven Bitt Dollar (valued at Eight Shillings and Threepence, re-valued from 10 Bitts in Dominica, September 1798), MEXICO, Ferdinand VI, 8 Réales, 1753mf, Mexico City, centrally pierced from the rev. with a heart-shaped hole, surrounded by a lined border on both sides, 22.87g/352.9gr (Prid. 16 [Sale, lot 284]; KM. Martinique 20). Very fine or better, rare £900-1,200

Research by Bob Lyall (SNC December 2007 and February 2008) identifies Gibraltar as the origin for these coins with heart-shaped holes that are now identified as the Type I piercing. Ongoing research continues to look at this series, but unpublished research would seem to indicate that the Type IV is also Gibraltar. The Dominica Act of September 1798 clearly states that dollars with heart shaped holes were in circulation on that island. Local finds now suggests that these might be the Type II piercings