Philip V "Milled" 8 Reales 1732 Mo-F XF Details (Excessive Corrosion) PCGS, Mexico City mint, KM103, Cal-1437. A true survivor from this revolutionary emission: the first milled coins of Mexico. Presenting well, this piece was certainly UNC or close to it when lost at sea, considering the very sharp devices despite the grade qualifier. An example to crown a Pillar Dollar collection. The milled Spanish Dollar, featuring the iconic Pillars of Hercules design, was a globally dominant coin in commerce and daily trade. The 1732-dated issue marked the series' debut and is considered its pinnacle. Authorized by a 1728 royal decree, the first "Pillar" 8 Reales were struck on March 29, 1732, in Mexico City, following the earlier milled 8 Escudos. Its success led to widespread minting across Spanish colonies, with the coin circulating extensively in the Americas and early United States until the "Bust" type 8 Reales replaced it in 1772. HID09801242017 © 2024 Heritage Auctions | All Rights Reserved www.HA.com/TexasAuctioneerLicenseNotice

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