I think the advice is generally good. Pillar coins are very heavily forged and the forgers are using SILVER. I own many modern counterfeit silver Pillar coins. So be careful with this series in particular.
As for the relative occurrence of 4Rs versus 8Rs - perhaps I can shed a bit of light there as well. I track on a spreasdheet EVERY
ebay auction in the Mexican section by denomination and type from the 16th century up to 1897 and the end of the Reales. My spreadsheets run from July to July and cover almost 4 years of postings on
ebay. I watch International
ebay sites as well but only record postings on US to avoid duplication.
In the past year (July 2010 through June 2011) there have been 176,062 items posted under
ebay Mexico. In the total were 1751 Pillar 8R coins and 118 4R coins. So in that one type 8R's appear 14.83 times as often as 4R's.
For anyone interested the Pillar 4R was the LEAST often posted denomination of any type Cob, Pillar, Portrait or Cap and Ray covering all the denominations from 1/2R to 8R.
The comes the BAD news roughly HALF were in my opinion COUNTERFEIT or seriously altered.
