Mexico (Spanish Colonial): 1736-Mo-MF silver 8 reales ("Pillar Dollar"), Mexico City mint

Mexico (Spanish Colonial): 1736-Mo-MF silver 8 reales ("Pillar Dollar"), Mexico City mint

NGC XF40. Cert. #6268062-005. Numista-15066, Krause-Mishler-103.

.917 silver/.798 oz. Diameter: 40 mm. Weight: 27.07 g.

Ex-Ira and Larry Goldberg Auctioneers Auction 126, Lot 1214, 15 Feb 2022. Purchased raw.

The Spanish Milled Dollar of eight reales, also colloquially called the "Pillar Dollar" or "Piece of Eight", was a mainstay of world trade in the era of the European colonization of the Americas. As such, it is one of the first coins listed in the "Red Book" of United States Coins, though as a colonial issue it predates the founding of the United States. The American Founding Fathers based the new US dollar on these coins. Needless to say, they are extremely popular with collectors.

I liked this example for its contrasting grey toning. I previously had a slightly higher-grade example (1761 PCGS AU50), but sold that coin. I like this earlier-dated piece just as much if not more, despite the 10-point downgrade.



063000

 

That was pretty much my same thought on the matter. The AU50 I used to own was nice, but I actually like this XF40 a little more. Eye appeal counts more than technical grade in my opinion.