Owner Comments:
A very rare coin with the reverse having been in contact with salt water while the obverse was sheltered.
The first of the new minting machines to be installed overseas by the Imperial Spanish Government was appropriately sited in Mexico City, the seat of the Viceroy of New Spain since 1535, nine years before Blasco Nunez de Vela established his headquarters in Lima. The chief engraver from 1731 to 1760 was Francisco Monllor. He had responsibility to mint, in 1732, the first pillar coins in the five specified denominations (eight, four, two, one and half real pieces), closely following the pattern provided by Francisco Hernandez Escudero of the Segovia mint. This coin, which is still to be seen in the Mexican mint, bore a crowned M as mint mark, the regular sign of coins struck in Madrid from 1728 onwards. Naturally, this was replaced by the Mo symbol which had been used in Mexico City since the mints foundation in the reign of Philip II. No changes were made in the silver coinage until 1733, when for several months all five denominations used the letters MX in line without the "o" over the M. However, it was soon abandoned, and since then the Mo has continued in usage until the present day.
DESCRIPTION
OBVERSE: Shield of Arms of Castile and León, flanked by assayer letter (F Filipe Rivas de Angulo (1732-1733)) and denomination numeral (8).
Obv.Latin Legend:* PHILIP . V. D . G . HISPAN . ET IND . REX *
Expanded: PHILIP V DEI GRATIA HISPANIARUM ET INDIARUM REX
Translation: "PHILIP V by the Grace of God, King of the Spains and the Indies".
REVERSE: Crowned hemispheres, set on Gibraltar, between crowned and banner-entwined Pillars of Hercules labeled "PLUS" and "ULTRA" (More Beyond).
Rev. Latin Legend: VTRAQUE VNUM * Mo * 1733 * Mo *
Translation: "Both are One" (the old and the new world).