Expert: Dmitry Livshits - 7/1/2010

Question
I own an 1802 (Carolus 1111) Hispanic (Mexican perhaps) 8 Real, dated 1802.  It is in fair condition, and has two chop marks on the reverse side...one a swastika, and the other a Chinese symbol.  Also on the reverse, there appears to be a mint mark ...an "M" with a small "o" over it...perhaps Mexico City ?) I've read a few things on the "net" about these coins, and wonder if you might enlighten me as to it's possible value.  Thanks very much.  I appreciate anything you might be able to tell me about this coin.

Answer
Hi Priscilla,
You are absolutely correct about the origin... this is a Mexico City issue "pillar dollar". This is one of the most widely counterfeited series of all time, so I always encourage that owners weigh the coin to make sure it's within the correct range. Without wear these coins should be 27 grams. With a significant amount of wear it can be as low as 26.5, but anything below that is highly suspicious.
Both chop-marks were made by merchants in the Oriental trade. These coins were used as currency all over the world, including the US prior to the 1860's. Just a couple chops will not add or detract from the value of a circulated coin.
It's tough to give you a value without having seen a picture of the coin, but a typical well used coin of this date/mint is worth $30 to $50 at auction. A retail price in a coin shop would be double that.
Also worth noting: there is an over-date variety for this year (1902 over 1). If you had this variety you would see faint traces of a numeral 1 underneath the 2 in the date. The value would also be at least 25% higher.
Thanks for the question! =)