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Question
Dmitry:
)
Do you know anything about this coin? I must have acquired this coin somewhere down the line, and put it away with the intention of finding out its origins, but must have forgot. I was rummaging around and "re-found" this about a week ago. Origin, value, and perhaps its composition would be very much appreciated. Thank you for your time and consideration.
-Jeff
Hi Jeff,
You have a Spanish colonial 8 reales coin, also known as a "pillar dollar" or "piece of eight". This particular one comes from the Mexico City mint. The composition for coins of this type is .903 silver and a genuine coin should weigh right around 27 grams.
Coins like this were used all over the colonial world, including the United States. Your particular coin has a few merchant chop-marks on the surface which trace it as being used in the Oriental trade.
At auction, your coin would sell in the $80 to $120 range.
Thanks for the question! =)
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Answers by Expert:
Dmitry Livshits
Expertise
My specialty is world coins from the 18th to 20th centuries, primarily non-US foreign coins and related areas such as errors and exonumia (tokens, medals, etc.). I can answer questions relating to identification, grading, selling, preservation and evaluation of such items. In addition to catalog value, I can give you the practical market value and trends for specific types of coins. I will also take questions regarding counterfeits (both modern and antique) and on how to identify them. I am NOT knowledgeable in paper money/banknotes, ancient or "shipwreck" coins. Thank you.
Experience
Collector of world coins since early childhood. Access to a variety of auction records and reference material. You can also find me on Facebook.
Education/Credentials
A.S. in Psychology (2006), B.A. in Forensic Psychology (2008), M.A. in Forensic Psychology (2011).
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