1766 Mexico Charles III ‘Pillar Dollar’ Silver 8 Reales – aVF
Pillar Dollar dated 1766 struck under Charles III at the Casa de Moneda de México.
Light surface pin, peck or chop marks to both sides, else graded as almost Very Fine
A fantastic highly sort after issue, which forms part of the Australian Proclamation series of 1800
Description
Origin:Mexico
Mint: Casa de Moneda de México
Denomination:8 Reales
Composition:Silver
Date:1766 – F.M
Obverse:CAROLUS · III · DEI · GRATIA · 1783 · Bust of king Charles III facing right
Reverse:VTRAQUE VNUM / PLUS VLTR / Mo * 1766 * Mo. Crowned hemispheres flanked by crowned pillars.
Edge:With pattern
Grade:almost Very Fine, light surface pin, peck or chop marks to both sides.
Diameter, Weight & Orientation:39mm; 27.07g; 12h
Provenance:Ex. Private Sydney Collection
References:KM 106
The Pillar Dollar: Charles III’s Global Coin
A Coin that Travelled the World
Minted under Charles III, the Pillar Dollar—also known as the Spanish dollar or “piece of eight”—quickly became the superstar of 18th-century global trade. With its high silver content and consistent weight, merchants from China to the Caribbean happily accepted it. In fact, it was so trusted that it became the world’s first global currency—long before Bitcoin tried to steal the show!
Crossing to Australia
Interestingly, this Spanish coin ended up playing a key role in Australian history. In 1800, faced with a shortage of currency in the colony of New South Wales, George III issued the Proclamation of 1800, which formally recognised foreign coins for use—among them, the mighty Pillar Dollar.
A Coin with Pedigree
Decorated with twin pillars and a crowned globe, the coin symbolised Spain’s imperial power. But ironically, it helped British colonies thrive. It may have been born Spanish, yet it spoke the universal language of trade—and did so with silver-tongued success.
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