8 Reales
8 Reales (Spanish Colonial 'Pieces of Eight')
Spanish Empire, Viceroyalty of Mexico (Mexico City Mint) · 1739; Philip V reign
A silver Spanish Colonial coin known as a Columnar or 'Pillar Dollar', featuring a crowned coat of arms on one side and the cross with lions and castles on the other.
- Country
- Spanish Empire, Viceroyalty of Mexico (Mexico City Mint)
- Year
- 1739; Philip V reign
- Denomination
- 8 Reales
- Metal
- Silver (.917 fineness)
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Overview
A silver Spanish Colonial coin known as a Columnar or 'Pillar Dollar', featuring a crowned coat of arms on one side and the cross with lions and castles on the other.
Historical significance
Commonly known as the 'Piece of Eight', these coins were the primary international currency of the 18th century and served as legal tender in the United States until 1857.
Obverse (front)
A crowned Spanish coat of arms flanked by the denomination '8' and the mint/assay mark. Legend: PHILIPPUS V D.G. HISPANIARUM REX.
Reverse (back)
A cross with castles and lions in the quadrants within a quatrefoil border. Legend: ET IND ARUM REX 1739.
Estimated value
$50 - $150 for common examples; however, this specific item shows significant casting bubbles and mushy details suggesting it may be a modern replica or counterfeit worth roughly $5-$10 as a reference piece.
What drives this coin's value
Authenticity, silver content, date, and mint mark. For genuine coins, the clarity of the crown and the legends drives the price.
Grade assessment
Appears to be a 'Very Fine' grade at first glance, but the surface texture (pitting and bubbles) strongly indicates a modern cast replica.
Mintage & rarity
Original 1739 strikes are common; however, authenticity is a major concern for this specific specimen.
Authenticity & counterfeit red flags
Authentic pieces were 'milled' (struck), not cast. Look for casting bubbles (visible on this item), a seam on the edge, or weight discrepancies. This specimen shows a 'soft' appearance and circular pitting typical of cast fakes.
Notable varieties & errors
Various assayer initials (such as MF or MF and F) are sought by collectors specializing in the Mexico City mint series.
Similar coins
Confusion occurs between Mexican, Peruvian, and Bolivian issues, as well as between 'Cob' style and 'Milled' style coins.
Care & preservation
Do not clean with abrasives or chemicals. Store in a PVC-free flip or capsule to prevent further oxidation.
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