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 is a milled dollar?
The most circulated coin in the colonies was the Spanish milled dollar. Minted in the Rich Spanish colonies of Mexico and Peru since 1500, this one ounce of silver had a milled (patterned) edge to prevent dishonest folk from “shaving” the edges.
How much is a pillar dollar worth?
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
.
How much was a piece of eight worth?
Piece of Eight
It is widely used due to the uniformity in standard and milling characteristics. Beginning in 1537, the piece of eight was supplemented by the gold escudo, which was worth
about two dollars
. The famous “gold doubloon” was worth 2 escudos or four dollars.
What are Spanish coins called?
The Spanish dollar, also known as
the piece of eight (Spanish: Real de a ocho, Dólar, Peso duro, Peso fuerte or Peso)
, is a silver coin of approximately 38 mm (1.5 in) diameter worth eight Spanish reales.
Why are edges of coins milled?
They can also include lettering. Reeded edges are often referred to as “ridged” or “grooved” (US usage), or “milled” (UK usage). … Reeding of edges
was introduced to prevent coin clipping and counterfeiting.
What is Cash milling?
Recycling Your Machining Scrap for Cash. The metal that’s removed – filings, fines, shavings and turnings – is debris or waste known collectively as “chips” or “swarf.” It usually winds up in a bin that’s part of a machinist’s workstation, and it’s generally recyclable. …
When did they stop hammering coins?
Milled coins
In England, the first non-hammered coins were produced in the reign of Queen Elizabeth I in the 1560s, but while machine-produced coins were experimentally produced at intervals over the next century, the production of hammered coins did not finally end until
1662
.
Why is it called 9 pieces of 8?
In Pirates of the Caribbean, the nine so-called Pieces of Eight belong to and
signify the Pirate Lords of the Brethren Court
– but they are more than just trinkets. The films are set during the Golden Age of Piracy and follow a motley, disparate crew led by the eccentric Captain Jack Sparrow.
Why do pirates say Pieces of Eight?
The Spanish dollar coin was worth eight reales and could be physically cut into eight pieces
, or “bits,” to make change — hence the colloquial name “pieces of eight.” The dollar coin could also be cut into quarters, and “two bits” became American slang for a quarter dollar, or 25 cents.
What is a bit worth?
A bit is 1/8 of a dollar or
12.5 cents
.
Are doubloons real?
The doubloon (from Spanish doblón, or “double”, i.e. double escudo) was a two-escudo gold coin worth approximately $4 (four Spanish dollars) or
32 reales
, and weighing 6.766 grams (0.218 troy ounce) of 22-karat gold (or 0.917 fine; hence 6.2 g fine gold).
Is Pirate gold Real?
The Whydah sank
in 1717 carrying hundreds of thousands of gold coins and other artifacts. It is the only pirate treasure ever found. … The Whydah sank in 1717 carrying hundreds of thousands of gold coins and other artifacts. It is the only pirate treasure ever found.
Are Spanish coins worth anything?
Currently, the best preserved coins can be sold for
up to €1,400
. For those with a draw full of old Pesetas but not lucky enough to have one of the valued ones, you have until December 31, 2020 to exchange them for Euros at the Bank of Spain.
Why do people shave coins?
Clipping. Clipping is the act of shaving off a small portion of a
precious metal coin for profit
. Over time, the precious metal clippings could be saved up and melted into bullion or used to make new coins. … Even among pirates, clipping coins was considered a serious breach of trust.
What coins have smooth edges?
Pictured above are the four most common U.S. coins — from top to bottom, a dime, penny, nickel, and finally, a quarter — seen from their edges. You’ll note that the edge of both the dime and quarter have ridges, little grooves running perpendicular to the coin face.
The penny and nickel
, though, have a smooth edge.
