Silver 1743 Milled Pillar Coin?
I was going through some old junk in my attic and underneath one of the floorboards I came across this old coin. I read up about it online some but I couldn’t really find much about it. All I could find was:
Milled pillar coins “pillar dollars” were minted at the Mexico City mint from 1732 until 1771, when they were replaced by the milled bust variety. The Mexico City mint was the first to produce the milled pillar type coinage and the only mint to produce them during the reign of Philip V. The milled pillar dollar was enormously popular and circulated throughout the world, even serving as legal currency in the United States until 1857. Interestingly, they were never produced in Spain, but instead only struck at Spain’s New World colonial mints. Mexico City milled pillar coins are easily identified by their mintmark, an M with a small o above.
And it said its domination was 8 Reales or something like that.
Is it rare? Is it worth a lot?
1743 is not a rare date and if George Washington did throw a silver dollar across the Potomac river it was an 8 real coin that the colonials called dollars. There is a lot of history to the coin and you only scratched the surface. It was the major silver coin in Asia from it’s beginning to its end. Most pillar dollars today sell for $100-$300 depending on grade. The lower the grade the less money, the higher the grade the more value. A lot of U.S. coin dealers know little about them so if you sell check out more than one dealer see several and make sure they know what they are doing. You will get short changed if you don’t.
Andrew Mills: Silver Dagger
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