The 1783 MO FF Mexico 2 Reales El Cazador Shipwreck NGC Silver coin you have is a collectible piece with historical significance. Here's a breakdown of the factors affecting its value:

Origin and Story:

• Minted in 1783 in Mexico City (MO mintmark) with the initials of the assayers F (Francisco de Rivera) and F (Francisco Arance Cobos) (FF).
• Part of the silver cargo on the Spanish Brig of War El Cazador, which sank off the coast of Louisiana in 1784. The wreck was discovered in 1993.
• Recovered shipwreck coins often have a distinctive "pickled" surface due to their time underwater.

Value Determinants:

• NGC Grading: The NGC grading determines the coin's condition. Higher grades (MS for Mint State) with more remaining details and sharper features will command a premium price.
• "Pickled" Surface: The characteristic "pickled" surface can be a positive attribute for collectors specifically interested in shipwreck coins. However, the extent of deterioration can also affect value. A coin with a heavily encrusted surface might be worth less than one with a milder "pickled" appearance.
• Overall Condition: Even with the "pickled" surface, details like a readable date, legends, and visible design elements positively influence value.

General Value Range:

It's difficult to provide a specific value without examining the coin itself and its NGC grade. However, based on online sales of similar El Cazador shipwreck coins:

• NGC Genuine (lowest grade): You can expect a range of $250 to $400 or more.
• Higher NGC grades (MS-61 and above): The value can increase significantly, potentially reaching $1,000 or even higher depending on the specific grade and overall condition.

Recommendations:

• If you have the NGC certification documentation, it will contain details about the grading and any comments about the coin's condition.
• Look for high-resolution images of similar NGC graded El Cazador shipwreck coins that have recently sold online to get a better sense of current market prices.
• Consider contacting a reputable coin dealer specializing in shipwreck coins or NGC-graded coins for a more precise valuation. They can examine the coin in person and provide an accurate estimate based on current market trends.