The Silver Dollars of '60
Spanish Empire 8 Reales, 1760

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Spanish Empire, Viceroyalty of New Spain, Mexico City mint. Charles III was the fifth son of Philip V, assuming the throne on the death of his half-brother Ferdinand VI. His political and economic reforms slowed the decay of the Spanish Empire for a period, encouraging colonial commerce which stimulated the production of silver mining and minting. This 8 reales is from the first year of Charles III coinage. Coins of this type are often called 'Columnarios', 'Dos Mundos' or 'Pillar Dollars' from the reverse design depicting the Pillars of Hercules, wrapped with the national motto of Spain 'PLUS ULTRA' (further beyond), framing two globes, representing Spain's dominion over the old and new worlds. At 39 mm, 27.07 g and 91.7% silver, they set a standard that many other countries adopted or were forced to imitate if they wished to trade with China.

Raw coin from Cayón Subastas, Madrid, February 2012