Expert: Dmitry Livshits - 3/3/2010

Question
Hello I have this really neat coin my grandfather gave me. I love it but I wanted to know more about it, I can't seem to find it anywhere on the internet. The coin reads DEI.GRATIA.1808 Ferdin .VII. I have found many coins of 1809 and 1821.. but to of 1808. the front is  HISPAN.ET IND.REX.M (with a circle above it). 8R.T.H.  I'm not looking to sell the coin but I was wondering how much they are worth, curiosity sake. The pictures are great on the front and back on the coin A crest on one side and a Picture of maybe ferdinand IV's father? not sure has a long ponytail with a bow-tie in it.
Thanks for your help!!

Answer
Hi Sara,
You have what many people call a "pillar dollar" or "piece of eight". It's a silver 8 reales Spanish colonial coin from the Mexico City mint. These were used everywhere that the Spanish traded throughout the known colonial world. A really nice example is worth $125 to $150. Exceptional pieces can be significantly more than that.
if you would like to post a follow-up question with a picture of the coin, I can give you a more exact value.
Thanks for the question! =)