Exactly. I’ve been a coin dealer since about 1971. I’ve got a special interest in coins of the world, not just US. I’ve bought literally millions of world coins during that time. I’ve bought the little Spanish American silver coins from the 1730s-1890s which were the half real, one real, two real. (The four real was the equivalent of half a US dollar and the 8 real was the equivalent of the US silver dollar).
I’ve probably bought thousands of these small coins from groups which were preserved by parents, grandparents, great–you get the picture.
I’ve only ever bought 5-10 of the “cut” pieces of Spanish coins, and in every case they were from the Carribean Islands. They actually did this and then counterstamped them for useage in that Island.
I’ve never purchased a “cut” piece of coinage from a Spanish 8 real.