or PILLAR COINAGE. Spanish Colonial. These 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.
The coins were
the famous "pieces of eight" (referring to the 8-real coin) of legend and
literature. Exquisitely designed, and strictly of 916.66 fine silver, these
columnarias were minted with screw presses in the same denominations as
the earlier cobs and immediately established the well earned reputation
of being the best known and respected coins in every part of the known
world, making them the prototype of modern international currency.