What is a pillar dollar?
To U.S. collectors, the Pillar dollar, the 8-real coin struck between 1732 and 1772, is possibly the most iconic foreign coin of the 18th century. Handsome, common examples from the Mexico City Mint in Very Fine condition can sell in online auctions at the $150 to $200 level.
What does VNUM mean?
The Latin motto Vtra Que Vnum (V=U) appears on the Spanish Milled Dollar (Pillar dollar or 8 reales) and refers to the two hemispheres of the earth that appear as a design element on the coin. It translates as “Both Are One”.
What is a piece of eight coin?
Cutting money was not illegal, like it is now. In fact, it was expected that, to make change, they literally cut the coins into 8 pieces or “bits.” Hence, the British called the Spanish dollar a “Piece of Eight,” and when they said something cost “two bits,” they meant it cost a quarter of a dollar.
What is the name of an old Spanish coin?
| old spanish coin | |
|---|---|
| Old Spanish coins | |
| REALES | |
| Old Spanish coins | |
| REALS | |
What are Spanish coins made of?
The portrait variety from 1772 and later are typically referred to as Spanish dollars or pillar dollars. Coins were minted in Spain in copper 1, 2, 4 and 8 maravedíes, in silver coins equivalent to 1, 2, 4, 10 and 20 reales de vellón since 1737, and in gold coins equivalent to 1⁄2, 1, 2, 4 and 8 escudos.
How much is a piece of eight worth now?
Eight Bits The value of a pieces of eight coin was based on the weight of the silver. At the time the coins were made, one ounce of silver was worth one dollar. The coin could actually be cut into eight pieces, or bits. Each bit was thus worth 1/8 of a dollar.
How much is a piece of eight worth in today’s money?
If the coin is too worn to tell the date the coin may sell for as little as $50. Pieces of Eight in very good condition average about $300 (I saw hundreds of the at the NY INC show in January for that price). Rare and excellent specimens can sell for over $2,000.