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| The Spanish Milled Dollar valued at 8 reales is also known as the Pillar Dollar or Piece of Eight and has been given a place in romatic fiction unequaled by any other coin. This time honored piece and its fractional parts of 1/2 and 1 reals and 2 and 4 reales were the principal coins of the American colonists and were the forerunners to our own silver dollar and its fractional coins of nickel, dime, quarter and half. This pillar dollar is dated 1797 and though heavily worn in some spots, it still clearly shows the M Mint mark for Mexico City. You will also notice the many chop marks present on the coin. The practice of adding chop marks or stamped insignia to coins can be dated to the 18th century. It delevoped among Oriental traders as a means of guaranteeing the silver content of coins paid out. Each firm had its own marking and often, after heavy circulation, the original design of the coins would become completely obliterated. The presence of these marks on this coin (see scan) indicates that this coin did circulate in the Far East. What a rich history! Specs: Diameter:39mm Content: 100% pure silver. Unique linked reed edge (see scan). Authentic. |
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