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Coin and Paper Money Collecting/i want to know what is the value of this coin

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Expert: Brad Swain - 11/6/2009


Question

1744 silver coin
I have what I believe to be a Spanish coin. It is dated 1744 and has VTRAQUE VNUM on one side and the other side has HISPAN ET IND REX PHILIP V D G and on one side it has like a shield sectioned off in 4 sections and what looks like a crown on top of it.The other side has a couple of pillers with some type of banner wrapped around them and another crown with two round things under it.Can you tell me what is the value of this coin?

Answer
Hi Sham, It appears to be a silver dollar sized Spanish-Mexican 8 Reales. That design features King Philip V (1700-46). The M and F to the left of the shield are the Mexico City mint's assayers' initials. The Mexico City mintmark is an M with a small o over it. It should weigh 27.067 grams and would contain .7980 of an ounce of silver. Collector value depends on date, number minted and condition of a coin, including amount of wear, any dents, scratches or cleaning. This one may be worth about $50 with heavy wear to maybe $200 with moderate wear to possibly $400 with light wear. You might also try a library for a copy of the Standard Catalog of World Coins for pictures, values and lots more interesting info.
The “Spanish Milled Dollar” and its fractions were the principal currency through the early 1800s in U.S. everyday circulation and were legal tender as late as 1857.
You might find similar pieces on Ebay.com for comparison. These sites are also a great info source:
http://carlclegg.com/pillars/design.html .
http://www.coinsite.com/content/faq/8RealesMilledPillar.asp .
Counterfeits and fantasy pieces mass produced in East Asia, the Middle East and Eastern Europe abound of Chinese and U.S. coins, and many other countries'.
Weighing it may be the best telltale of its genuineness.
Fakes: http://reviews.ebay.com/Fake-8-4-and-2-Reales-coins-from-ASIA-BEWARE_W0QQugidZ10...
Chinese counterfeit factory: http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/Chinese-Fake... .
Brad

Brad Swain

Expertise

I have been a World Coin and Paper Money collector since about 1965. I will be glad to answer any questions you may have on World coins or currency, tokens, unusual or unknown pieces and attempt to give you estimates of value and historical information about them in a polite and prompt manner.

Experience

45 years collecting coins and paper money.

Education/Credentials
BA History, BA Geography - Virginia Tech

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