While workers performed restoration works at the Nashville City Cemetery, archeologists suddenly spotted the famous "piece of eight", which was latter named the "peso" and then the "8 reales," dated 1776.

It is interesting to note that "8 reales" was discovered in the cemetery's northeastern quadrant. The author of the finding is Pat Cummins, who was the staff archaeologist for Cumberland Research Group, a Murfreesboro team, that specializes itself in the field of mortuary archaeology.

The coin was spotted in the moment when workers began raising a footstone. The footstone sunk deep into the ground. It was situated near the grave that dated back to the middle of the 19^th century.

The features of the coin on the one side included a bust of Charles III and on the other one a pair of pillars that were separated by a crowned shield, which included illustrations of lions, castles, a pomegranate and the centralized three fleurs-de-lis.

Such type of "8 reales" is also known as "Milled Bust". It represents the New World's 5^th and last type of the Spanish colonial design of silver coins.

According to Fred Zahn, historic preservation staff who works for the Metro Historical Commission, till the late 1850s the "8 reales" coin was legal tender in the United States. "There were huge volumes of them" he added.

Zahn mentioned that one coin of 8 reales equals $1. The term stating "piece of 8" is linked to the way the coin was cut. Thus, in most cases such coin was cut into eight wedges.

Fred Zahn believes that the coin was lost and it was not placed ceremonially at the grave site.