Spanish Milled Dollar

The coin of our nation's Founders, the Spanish milled dollar was valued at eight reals or "bits." Its edges were milled or patterned to prevent traders from shaving the edge unnoticed.

England forbade the early American colonies to mint coins, leaving the settlers to make do with barter, foreign coins (like this one) and local currency. Minted in the rich Spanish colonies of Mexico and Peru since 1500, the Spanish milled dollar was so highly respected it became an international trade coin. Some originals have Chinese markings, approving their use.
Colony of New York 1775 Half Spanish Milled Dollar

Colony of New York 1775 Half Spanish Milled Dollar

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1760 Silver Spanish Milled (Pillar) Dollar - Replica

1760 Silver Spanish Milled (Pillar) Dollar - Replica

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1777 Ten Spanish Milled Dollars Virginia Fine 15

1777 Ten Spanish Milled Dollars Virginia Fine 15

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1767 SILVER SPANISH MILLED 8 REALES PILLAR DOLLAR

1767 SILVER SPANISH MILLED 8 REALES PILLAR DOLLAR

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1778-30 MILLED SPANISH DOLLARS-PHILA.

1778-30 MILLED SPANISH DOLLARS-PHILA.

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MUSEUM REPLICA SPANISH MILLED DOLLAR PIECE OF EIGHT

MUSEUM REPLICA SPANISH MILLED DOLLAR PIECE OF EIGHT

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The American government sanctioned these coins until the late 1850's. Other denominations are still found in archeological digs in Columbia and California, where thousands of miners dropped coins during the gold rush years.

The Annals of San Francisco mentions that every foreign coin* that came close to the coins accepted in the "states" as set for prescribed measure in silver or gold, were being used in 1855.

Otherwise known as the pillar dollar and piece of eight, it has been given a place in romantic fiction unequalled by any other coin.

This historically significant coin, along with its fractional parts like the two reals and four reals, was the chief coin of the American Colonists. It was the forerunner of our own silver dollar and its fractional divisions, the quarter-dollar and half-dollar.

*A German Mark, a French Franc, a Spanish 8 Real, an English Crown, even though the silver content might have varied.

Thank you to Columbia Gazette and Yeoman's Little Red Book for the information! Thank you to Wikipedia for the photo.

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