1747 Mo MF, Mexico, 8 Reales ( Pillar Dollar ), PCGS MS63, This specimen is better than museum quality. PCGS Census 2/3/1/none better Consider for a moment what a comparable US Silver Dollar from the 1790's would be worth in MS-63 and was a rare variety in which only a handful or so were known to exist, like this one. Certified by PCGS in an old green holder, this historical piece struck in Mexico City is one of the finest known to exist. Thousands of these pieces circulated extensively trough out the United States for over a century after this piece was struck, but miraculously this piece survived in exquisite condition. It was struck during a time when large parts of the U.S. were still parts of Mexico, and what those parts would be part of for another century. Heavily circulated in 18th and 19th Century America, these have become increasingly popular, but remain at fractions of price levels for United States minted coins.

First minted in the 1730s, these Pillar Dollars, or pieces of eight (because of their denomination, being 8 Reales) circulated extensively trough out the Americas, both North and South. Not only during the time they were minted, which was up to the 1770s, but for many decades thereafter as well. In fact, coins like this would be the prime currency for many Americans until the mid 19th century. By then, however, the old Spanish coins were worn out, sometimes nearly unrecognizable and usually underweight, as could be expected after much use. As such, these pillar dollars and smaller silver pieces were finally retracted from the American monetary system in 1857.

This piece, struck in 1747 is of wonderful quality. Nearly untoned, both sides are virtually free of any noticeable blemishes, even under magnification. The strike is relatively sharp for its issue, but one should not forget that these pieces were produced under primitive circumstances, and are almost never found with full or nearly-so strikes. Given the fact that these coins have become increasingly popular with collectors of American coinage, it is a matter of time before their true rarity and historic significance is truly appreciated. Before then, they remain affordable, even in such a high grade, and are a wonderful addition to any high-grade collection of US or Mexico coinage.