Looking To Buy A Pillar Dollar

Probably the best thing to do, would be to wait until you see one that you are considering buying, and then post a thread for the attention of Swamperbob. He would be able to tell you if it is a counterfeit or if it is genuine. Or else you could email him and ask for his opinion about a specific coin. You would need to have clear photographs for him to work from though. Swamperbob is an expert when it comes to counterfeit coins! Good luck!

Here's what I'm looking at right now.

http://cgi.ebay.com/Rooswijk-Shipwr...34_W0QQitemZ330039700754QQihZ014QQcategoryZ541QQrdZ1QQcmdZViewItem

mnemtsas, could you please forward that list to me, as well? I am too hesitant to wander those waters until I read "Columnarios", but would like to eventually own a pillar. Knowing trustworthy e-bay sellers dealing in Spanish Colonials would be fantastic.

You can reach me at my e-mail - Roman.Martyn@gmail.com

Thanks!

~Roman

USArmyParatrooper - I just saw your post. The coin appears to be real - however, that said it is rather pricey given the level of corrosion. Are you interested in the coin as an historic artifact or just a numismatic item? The coins from this wreck and most others tend to show porosity. These coins were only 90% silver and the other 10% (copper) was highly reactive with salt water - so you can end up with real "problem" coins. Coins that salvagers say are "MS" corroded - can resemble swiss cheese.

Many of these same coins found their way to the US and other countries where they were used in day to day commerce. Those tend to be in far better shape and while worn will be far more acceptable overall.

There are a few ebay dealers who know the difference between the real and fake 8Rs. They usually sell me the fakes. If mnemtsas sent you the "short' list - I would see what they have first.

USArmyParatrooper - based on your comments - I would steer clear of shipwreck coins. There are very few of these wrecks that tie directly to the USA. Most of the recovered treasures were destined for Europe (Spain) not the US. None of these wreck coins was ever used in the colonies here. So the premium you pay for a wreck coin is meaningless given your goal of getting a coin from "our pre-US mint beginnings".

My take on what you mean is that you want a coin that would have been found circulating in the early US before 1793? The type of foreign silver coinage that served the US until 1857 was predominantly Mexican.

Have you considered a Charles III portrait dollar? They are worth far less in high grades than Pillar Dollars but they did circulate in the colonies in far larger numbers than the Pillar dollar ever did (the Red Book picture not withstanding). The Mexican colonial 8Rs (portraits) and later the Mexican Cap and Ray 8Rs were the primary circulating coinage of the young US Republic - NOT the Pillar dollar. The vast majority of US coins were made from silver recovered from MEXICAN coins. While it may be true that the Pillar dollar was seen in colonial times, by the time the Revolution concluded in 1789 - those coins were mostly out of circulation. Mexico was exporting Portrait dollars (as bullion) and the US was using them as a source of raw silver. Mexico did not keep a backlog of older Portrait coins - they had been shipped to Spain years earlier. The Portrait 8Rs date back to 1772, so imports of silver by the early US HAD to be Portrait coins. Remember it is an historical fact that England regulated the flow of silver coin INTO the colonies. England did NOT want the US colonies to have a silver coinage. There was a real shortage of silver coin in North America before the revolution.

So I think you may be looking at the wrong type.