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Nice one, Calabash! I've dug smaller pieces of the 2 Real, cool to see a quarter cut. Always great to find Spanish silver!

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Mr. Calabash  

 Do you know the reason why you find cut coins like that? I’m sure you do know that it was away they could give change.

I met this guy that had a bait shop out on the island of south Texas coast. He showed me a box of cut coins like what you have with others.

 The funny thing is he didn’t find them coin hunting with a detector. He’d walk behind the sand dunes and he would find them sitting on like a toad stool. The wind would blow the sand away from the coin cutting around it leaving it like a little toad stool .

 It was a tribe of Indians that lived on the the island and he would find them around their camp .

 Chuck 

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The same thing happens to modern coins at ski slopes.  I would go hunt there as soon as the last snow of the season was beginning to melt.  Sure enough coins were propped up on "toadstools" of snow and ice.  Like the snow fairies put them out just for me!  GaryC/Oregon Coast

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Chuck - I refer you to this post, it discussed these ubiquitous 2 Reale cut pieces which were referred to by the Colonists as "Pistareens" and was indeed how people made change back in the day.

 

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20 minutes ago, calabash digger said:

My thought is how did they cut them??

This should do it:

https://history.stackexchange.com/questions/58540/how-did-people-cut-pieces-of-eight

Honestly, a rock and a sharp knife would to the trick. 😀

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