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Milled Coinage, Pillar Type

Values shown for these silver coins are for the most common dates and mintmarked pieces of each issue. Similar pieces were struck at Spanish-American mints in Bolivia, Chile, Colombia, Guatemala, Mexico, Panama, Peru, and Santo Domingo. The New World began its first coinage in 1536 in Mexico City. By 1732 the first round coins were made and the columnario, or Pillar coinage, became the coin of trade internationally. In 1772 the Bust dollars with the effigy of the king of Spain were placed in circulation. These coins and the Republican style of later Latin American countries circulated legally in the United States until 1857. Parallel issues of Spanish-American gold coins were made during this period. They saw extensive use for international trade and somewhat lesser use in domestic transactions in America. The Spanish silver pistareen was also a popular and convenient coin in circulation.

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