1R 1753M Spanish Dos Mundos/Pillar Coin
The term "Real" came about in a declaration of Don Pedro de Cruel (1350-65) stating that the official coin is to be known as "Numus Regalis" (Royal coin) and was valued at 3 maravedis. This was later shortened to "Real"
On June 13, 1497, King Ferdinand & Queen Ysabel pegged the uniform value of the real. It was decreed that from a silver cut with weight equivalent to the Mark (German) with was half of a Cologne, there shall be sixty seven (67) reales. The Mark value became known as the "Marco de Castilla" and is roughly 230.0465 grams. Thus the weight-value of a real was 3.4335 grams. It was further decreed that fineness shall be in form of 11 dineros and 4 granos, translated as approximately 930.55 mills of Silver. The Spanish eight reales coin was set at a weight of 423.9 grains (27.468 grams) of .9305 fine silver. From that date, the coin only depreciated by 1.5% and not until the introduction of the modern milled coinage in 1732!
The coinage of Spain and its American colonies, especially Mexico came to dominate the Philippine commercial scene. Early in the Spanish colonial rule, the Philippine traders used hammered coins -- the "macuquinas" or cobs. Because of their rude mintage, they were odd shaped. They were known as the "hilis kamay".
The Barillas were the first coins struck by Spain for the Philippines. These were uniface brass coins which bore the coat-of-arms of City of Manila. They appeared in 1782, and had a value of about one centavo.Subsequently, new varieties of copper coins appeared from 1782. These were denominated as Octavo (Eight-Part) and Quarto (Quarter) 8 Octavo = 4 Quarto = 1 RealDuring the reign of Philip V, a Royal decree in 1728 brought the beginning of the milled or machine-struck coins for the Spanish colonies. This came about because of the popular and unscrupolous practice of some merchants to chip the existing coin to retain more silver for themselves. The coins were marked with border making chipping easy to detect.
Shown above, from one of my collections is a silver 1753 1 Reales Spanish Dos Mundos/Pillar coin of Mexico mint. This changed hands in the Spanish colonies particualrly Mexico as well as in the Philippines greatly as a result of the Manila-Acapulco Galleon Trade which ensured their circulation in the East. This beautiful silver coins proclaimed by their bold design Spanish dominion over the Old World of Europe and the New World of the Americas and the East. They steadily came to replace the much abused cob coins through the medium of a prescribed circular shape sealed against debasement by a distinctive milled floral edge. On recto is the design depicting the Spanish Royal Coat of Arms.
Comments from fellow collectors are very welcomed, and an honor for me to share and grab some thoughts from you.