Few coins can match the history and romance of the Piece-of-Eight, commonly known as the Spanish 8 Reales, or Spanish Milled Dollar. As you know (from The Official Red Book - A Guide Book of United States Coins) this large silver coin was widely used throughout the Americas. Its wide acceptance made it a favorite of both pirates and merchants. It was used throughout the colonies before the American Revolution, and was the basis of the United States Dollar. The coin continued to be legal tender in the United States until 1857. As you know, what history refers to as the Louisiana Territory, was called New France until 1762. In 1762 Spain gained control of the Orleans and Louisiana Territory from France by treaty, over objections of the residents who had nothing to say in the matter. Following the American Revolution there was increasing rebellion in the territory caused by restrictions Spain placed on trade with the United States. Soon a deluge of unbacked paper currency flooded the terrritory, and the Libertarion ideals of the American Revolution fired the hearts and minds of the people . In 1784 King Carlos III of Spain dispatched the brigantine El Cazador, loaded with newly minted silver coins (450,000 pesos worth) from the Mexico City mint to New Orleans, in an effort to redeem the paper currency and boost the local economy. Alas, the ship was lost at sea. Perhaps it was attacked by pirates or lost in a storm (most historians believe a gale). The loss was devastating to both Louisiana’s economy and Spain's ability to profit from the territory. Further efforts by the Spanish Crown to sustain Louisiana failed, and in 1800, Spain ceded Louisiana back to France in exchange for some minor European considerations. Three years (1803) later France sold Louisiana to the United States for $15 million dollars. The Louisiana Purchase opened the floodgates of westward expansion for the young United States. On August 2, 1993 the butterfish trawler Captain, Jerry Murphy, was fishing on board a vessel named MISTAKE some 50 miles S of Louisiana when the trawling net got hung up 300 feet down. The crew retrieved the net to examine it for damage when several silver coins pelted the deck. The coin denominations included 8 Reales (Spanish Milled Dollars), 2 Reales (Silver Quarters), 1 Reales (Silver Dimes) and the "star" of the treasure, the ½ Silver Reales. All of the coins bore the mark of the Mexican mint and date 1783. Here's photos of a salvaged 1873-Mo 1/2 Real courtesy of lostgalleon.com: http://www.lostgalleon.com/shop/product474.html Here's images of a recovered 1 Real courtesy of lostgalleon.com: http://www.lostgalleon.com/shop/product475.html Here's a photo of a salvaged 2 Reales courtesy of New World Treasures: http://www.newworldtreasures.com/images/11150.jpg 3 photos is of actual 8 Reales pieces recovered from the shipwreck: First photo courtesy of web.me.com: http://web.me.com/hh4pdd/High_Hopes/FUN-raiser/Pages/Silver_8_Reale.html#0 Second coin courtesy of World Educational Coin: http://www.vcoins.com/world/educationalcoin/store/viewItem.asp?idProduct=651 3rd photo courtesy of New World Treasures: http://www.newworldtreasures.com/images/11034.jpg Hope you enjoyed this numismatic history trivia... Clinker
Here's one of mine from El Cazador, 8 reales. Every collector ought to have an example of "America's first dollar". Lance.
That's a great coin Lance. I always had the 8 Reales on my want list, but not being a collector of foreign coins it kept getting bypassed by something more interesting to me...sort of like watching a baseball game over, let's say, cleaning out the garage. Do you guys have any idea how much the common pieces in a decent grade are getting these days? As always Clinker, thanks for the history lesson. Bruce
Very nice coin. Have any that were cut? I have seen several of these with wedges cut out (to make change). Facinating piece of history.
I know that this has nothing to do with the OP, but I wanted to say that Clinker is probably one of the greatest assets to this forum and that I NEVER cease to be amazed at the articles that he writes. What a treasure we have in Clinker! Thanks for the education and the hard work, buddy!!
Thanks, Clinker, for the excellent history lesson. You are absolutely correct when you say hat few coins can match the history and romance offered by the Spanish Colonial piece-of-eight [pirate money]. From the earliest Cob coins of the very late 1500s, to the pillar coins, to the portrait coins of the reigning kings ... they offer a great deal of New World interest. Good on you!
Thanks to all of you for your generous comments. It's like saying "sic em!" to a Pit Bull Dog. Hope my future posts live up to your applause... Clinker
