HISTORIC OLD COINS

PIRATE TREASURE PIECE-OF-EIGHT

The Spanish treasure ship Santa Maria de la Consolocion left Callao, Chile in 1681, bound for Panama, where her precious cargo that was to be transported across the isthmus and then shipped onto Spain.  Because of a delay in getting its silver coins from the mint in Potosi, Bolivia, she was forced to sail alone, after the rest of the South Sea Armada had departed.   The lone galleon was soon attacked by a fleet of six British pirate ships.   The captain attempted to defend his precious cargo by landing his ship on a small island named Isla de Muerto (Island of the Dead) in the Bay of Guayaquil, Ecuador.  The vessel accidentally hit a reef and began to sink.  To prevent the treasure from falling into the hands of the pirates, the captain set the ship afire.  The pirates, furious that the ship had been burned, captured and beheaded the estimated 350 passengers and crew of the ship.  Neither the pirates, nor the returning Spaniards were able to recover the treasure from the shark infested waters.  We are pleased to offer you a genuine Spanish silver Eight Real cob, also known as a Piece of Eight, salvaged from the treasure ship Consolacion.   As with all cobs, the coin is very crudely struck, and sitting under the ocean for over 300 years did not improve their quality.   The major elements of the design are visible.  The coin is dated between about 1660 and 1680, though the date is rather obscure and are from the Potosi mint.   The coin comes with an attractive Certificate of Authenticity that includes a photograph of the coin.  It is an interesting and historic treasure coin.

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THE FAMED PILLAR DOLLAR

The “Pillar Dollar” is the silver 8 Reales, or Piece-of-Eight issued by Spain’s New World mints between 1732 and 1780.  The coins were enormously popular throughout the America’s and Asia and formed the basis of the United States dollar.  One side of the coin featured maps of the New World and Old World, beneath the Spanish Crown and between two pillars, representing the Pillars of Hercules.  The other side had the crowned arms of Spain. We recently acquired a small group of 1740 dated Pillar Dollars of Spanish King Phillip V from the Mexico City mint.   These coins were found on a beach and show signs corrosion from being exposed to salt water for hundreds of years.  It is a historic and popular coin.

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PIECES-OF-EIGHT FROM THE WRECK OF THE EL CAZADOR

Few coins can match the history and romance of the Piece-of-Eight.  Commonly known as the Spanish 8 Reales, or Spanish Milled Dollar, this large silver coin was widely used throughout the Americas.  Its wide acceptance made it a favorite of both pirates and merchants.  It was used throughout the colonies before the American Revolution, and was the basis of the United States Dollar.  The coin continued to be legal tender in the United States until 1857. These original Pieces-of-Eight went down aboard the El Cazador in 1784 off the coast of Louisiana. 
     Some say that Spain's loss of the El Cazador changed the course of history.  Spain had gained control of New Orleans and Louisiana from France by treaty in 1762, over objections of the residents who had nothing to say in the matter.  Following the American Revolution there was increasing rebellion in the territory caused by restrictions Spain placed on trade with the United States, a deluge of unbacked paper currency, and the ideals of the American Revolution.   King Carlos III of Spain dispatched the brig of war El Cazador, loaded with newly minted Pieces-of-Eight from the Mexico City mint to New Orleans, in an effort to redeem the paper currency and boost the local economy.  Alas the ship was lost at sea. Perhaps it was attacked by pirates or lost in a storm.  The loss was devastating to both Louisiana’s economy and Spain's ability to profit from the territory.  Further efforts by the Spanish Crown to sustain Louisiana failed, and in 1800, Spain ceded Louisiana back to France in exchange for some minor European considerations.  Three years later France sold Louisiana to the United States for $15 million dollars.  The Louisiana Purchase opened the floodgates of westward expansion for the young United States.
    We have had these exciting coins that helped bring about a turning point in the history of the United States for some time, however until recently, we have not been able to reveal the name of the ship that they came from due to marketing restrictions.  We can now reveal the story behind these historic Pieces-of-Eight.
     The coins bear the bust of Spanish King Carlos (Charles) III one side and the Spanish coat-of-arms between the Pillars of Hercules on the other. The coins were struck at the historic Mexico City Mint, and were on their way from Mexico to the then Spanish port of New Orleans when the ship was lost at sea. The coins were only recently recovered, and definitely show signs that they have been underseas for the last 200 or so years.  We offer the coin in two grades. The Heavily Corroded coins are identifiable and show major design elements, however much of the silver and most of the design details have been eaten away by the corrosive salt water. We recommend these for someone who would like to have an example of an historic Piece-of-Eight, a lucky pocket piece or just want a real piece of treasure.  The moderately corroded coins are hand selected to show a readable date and a reasonable amount of the design details, including a clear bust of Carlos

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SCARCE KOREAN COIN FROM THE MILITARY TRAINING COMMAND

From 1633 to 1891 Korea issued an extensive series of bronze cash coins, called Sang P’yong T’ong Bo, or :Always even currency”.  Coins were minted by various government agencies.  Most of these coins were melted after Japan gained control of Korea starting in 1895, thus they are rarely seen today.  The Korean coins tend to be much cruder and not as well cast as those of China or Japan.  This 1 Mun coin was issued by the Korean Military Training Command between 1832 and 1857.  The reverse gives the mint name, as well as the furnace and series number for the coin

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THE KINGDOM OF KOREA

A pair of dragons are pictured on this copper-nickel ¼ Yang struck by the Kingdom of Korea in 1898.   At this time Korea was being torn apart by internal strife and foreign intervention.  Both Japan and Russia were trying to dominate the country.  In 1910 Japan formally annexed Korea. 

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