1746 Mo MF, Mexico, 8 Reales, ( Pillar Dollar ) PCGS Population 8 in this grade and none finer. 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. At first glance, one might think that this particular piece bears none or very little resemblance with the United States. Yet, it is among the most important 18th century coins minted in the Americas. This particular coin would be the basis of the later Silver Dollars, and has been popular with American collectors as such. However, that is not the only tie this coin has with American numismatics.

Up to the mid 1840s, the boundary between Mexico and US Territory was vague at best. In fact, much of the land between the Mississippi and the Pacific was undocumented, including large parts claimed by Mexico. This included most, if not all of the current Southwestern United States, which would slowly be settled over a long period of time. The first American settlers, however, would arrive in the early 1840s and the American-Mexican War had to end the uncertainty under which flag the new emigrants to California would live their new lives.

As we all know, the United States won the war and Mexico ended up much smaller than before the war. They would, however, remain to have a tense relationship, and perhaps that’s why not many collectors realize the true history of these silver coins, the same size as the later Silver dollars and struck in a time when some borders (like monetary) were virtually worthless.

This piece, struck in Mexico City and certified by PCGS in an older green holder, is one of eight graded this high, with none finer. For a 260+ years old coin, its quality is amazing. The fields are nearly free from distracting marks, and both sides are virtually untoned except for a small sport on the obverse and some delicate champagne toning on the reverse. Sharply struck, this is a wonderful and rare example of this increasingly popular world coin, which would be much more expensive when recognized for its true importance.