Thanks guys. @TheFinn - the coin was gray and crusty until the acetone bath. The q-tip I used turned almost completely black. I would think improper storage or exposure to tobacco smoke resulted in the surface contamination that was removed by acetone. Quite the transformation.
@TheFinn - in terms of "plata agria" effect seen on many period 8 Reales, Swamperbob (Bob Gurney) posted the following info a while back on the coincommunity forums:
Opinions seem to diverge, but quite a few (myself included) believe the effect is due to improper alloying.
After working at a modern coining mint, I know that improper annealing of silver creates lots of problems. The mint I worked at was fanatical about the number of times the strips were heat annealed after each pass through the rolling mills and edge rimming. The results were no cracking, fully struck pieces and (with proper cleaning and polishing) NO MILK SPOTS. Thanks for the two information bubbles on the cracking. After learning to pour molten silver and having some of it become brittle, I can appreciate what the smallest amount of impurities can do to the physical characteristics of silver.