This page offers a guide on how to collect all 8 coins in The Red Coins of the Lake in Bianco Hills.
Collecting all 8 Red Coins
First off, head towards Windmill Village and use the ropes to jump onto the white exterior walls. From there, jump up onto the palm trees and make your way over them towards the top of the platforms, where you can grab your 1st coin located above the ropes between the two pillars.
Next, swim over to one of the leaf boats and then use that to move beneath the 2nd red coins. Perform a high jump and use the hover function if you need to move into the coin. Head up onto the bridge at the top of the hill and hover over to land onto the first pillar platform in the water. Then, take the rope over to the second platform and grab the 3rd coin hovering above by jumping off the rope. Next take the ropes and the platforms over to the grassy ledge and make your way across right to the platforms with the long rope that goes over the lake. Use that rope to make your way up to a higher pillar platform. Along the way you can pick up the 4th coin.
This is where it might get a little infuriating. A Wind Spirit and several electric orbs on the wires will try to hit you off the ropes at every turn. You’ll need to jump to avoid both and make sure your timing is right! If you fall off, you’ll need to make your way all the way back round again.
Follow the next rope path, and you’ll be able to get the 5th red coin, you’ll need to jump up for it though. Continue along the rope paths as they continue to get higher and higher. The 6th red coin is above the next rope path, and you can jump to get to it. The 7th coin is up on the next rope, which you’ll also need to jump for.
Head up onto the pillar platform at the end of the rope. To get to the rope across from this platform, you’ll need to jump across and right as you’re about to begin falling, activate the hover function to make your way over to the rope. If you hover too early, you might run out of hover power before reaching the rope. You’ll find the final 8th red coin above this rope. When you’ve grabbed the coin, the Shine Sprite will spawn in an alcove in the windmill. Make your way up to the windmill and then high jump and hover to get to the alcove to retrieve the Shine.