It's a 1799 Mexico City 8 Reales, looks like it saw some use in the far east with the chopmarks. I personally think the gouge is just damage. Should weigh very close to 27 grams and the edge should have a square>oval>square>oval pattern. For the early 2000's I believe it was a little steep but that shouldn't matter, what matters is that you like it. Tons of history in those pieces of eight! They were truly a world circulating coin.