1770 Over 1769 Bolivia "PIECE of 8" REALES Spanish Milled "PILLAR DOLLAR" Potosi


This is a very nice, quite rare, and interesting 1770 over 1769 "Piece of Eight", "Spanish Milled Dollar", "Pillar Dollar", or "Eight Reales" (all 4 are used) from the famous Potosi Mint in Spanish Bolivia. When this coin was struck in 1770, they used a die that had previously been dated 1769. The remains of the underlying 6 and 9 can clearly be seen below. This overdate is valued significantly higher than the normal dated coin. But it gets more interesting, see below...
 
This is the very first coin in the famous "Red Book" or "A Guide Book to United States Coins" by R. S. Yeoman. The "Silver Mountain" at Potosi provided the wealth the Spanish Empire was built upon. The coins circulated all over the world, especially in the young "American Colonies". The Continental Currency of the fledgling United States was payable in "Spanish Milled Dollars".
 
Weight: 26.45 Gram, 39 Millimeter, .917 Silver.
Similar to "Standard Catalog of World Coins" (1701-1800) by Krause-Mishler. #50. 
"A Guide Book to United States Coins" by R. S. Yeoman.
 
Obverse: CAROLUS III • D • G • HISPAN • ET IND • REX • J • R • 8 • Charles the Third, By the Grace of God, King of Spain and The Indies • The J is for the mint assayer Jose de Bargas Flores who served from 1767 until 1773 and the R is for assayer Raimundo de Iturriaga 1767 - 1795 • Crowned Arms showing the Lions of Leon and the Castles of Castile, surmounted by the Lilies of Bourbon France (added after the War of the Spanish Succession). The Pomegranate at the bottom is for Granada.
 
Here is where it gets interesting, notice that there is no (•) or dot, after the word CAROLUS and before the III. The Krause Catalog specifically mentions that there IS a dot on the overdate. It lists both 1769 and regular 1770 coins with and without the dot. This may be an unknown die combination.
 
 
Reverse: VTRA QUE VNUM • Both Are One, referring to both the old and new worlds. • PTS monograms are the Potosi Mint Mark. 1770 over 1769.
 
 
A better look at the 7 over 6 and 0 over 9 overdate.
 
The Coin: A beautiful and highly desirable piece. It saw use, shows light to light medium wear, and like so many old silver coins it has been cleaned at some time in the past. As grading is subjective please see the pictures and judge for yourself.
 





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