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Rare specimen c=uld bring $60,000+ at Heritage Long Beach, May 28-29
DALLAS, TX – Until three years ago, no one even knew that the 1770 Nuevo Reino Pillar Dollar existed. That changed quickly, however, =hen an amazing stash of 14 coins was found during the bulldozing of a parking l=t in Bogota that was being razed for a new building. Buried beneath the dirt =nd the decades was the old foundations of the Nuestra Senora del Pilar church. The church, which existed from 1770 until 1948 when it was set abla=e during riots, was also a convent and school for girls. The church was eventually torn down and the area turned into a parking lot. When construct=on began on a new building three years ago and crews started digging, a small group of coins turned up – including the 14 1770 Nuevo Reino Pillars.=o:p>

Now, of the two that aren’t already in privat= hands, or held by private institutions, the most pristine will be a feature= lot in Heritage’s May 31 Long Beach World Coin Auction. It is estimated at $60,000-$80,00=. It is officially listed as a Carlos III Pillar 8 Reales 1770NR-VJ, KM39 (Da=e Unlisted), Calico 1000, Cayon Unlisted, MS64 NGC.

“The amazing thing about this Pillar Dollar,&=8221; said Cristiano Bierrenbach, Director of International Sales at Heritage, “is that we can actually trace it to the very day and place of its minting. The entire history of this coin, and the reason for which it was created, is right on its face.”

Few world crowns demand as much numismatic interest=as the Columnarios, or Pillar Dollars, that were struck from 1732 to 17=3 in numerous Spanish mint houses throughout the Americas. By the second half=of the 18th century, the Pillar Dollar had truly become “world currency,&=uot; finding wide use both in Europe, the United States (where it was legal tend=r) and the Far East. Both old and new worlds are depicted on the coin’s obvers= and are crowned between the two pillars of Hercules with legends “VTRA=UE VNUM” (both are one). On the reverse, the arms of Castille and Leon ar= displayed under the Spanish crown with the denomination “8″ to th= right, assayer initials to the left.

Of all the Pillar Dollars minted, the pieces struck in Santa Fe de Bogota, Nueva Granada (today Colombia) at the Nuevo Reino mint are perhaps the most desired among collectors and numismatists worldwide. This is one such coin. They were only struck in 1759, 1762 and 1770 – all are extremely rare with very few specimens known.

Spanish tradition says that when the first foundation stone is laid it is blessed and, in specific cases, the stone is carved and coins are placed inside. Inside this particular Bogota stone were more than 100 coins, mostl= cob 2 Reales, a few gold cobs, and numerous circulated Pillars from Mexico. Since there are no previous records of 1770 Nuevo Reino Pillars, it is like=y that these pieces were struck specifically for the ceremonies at the=Nuestra Senora del Pilar Church.

All of the coins found have been sold to private collectors and museums in Colombia and Spain. The original purchaser of the coins kept the two highes= quality coins for himself, and the piece Heritage is presenting is one of t=ose two. With an incredibly strong and sharp strike, most – if not all – of the original luster is remaining.

For more information on this lot, to view the other=lots in the Long Beach auction and to read detailed descriptions and download fu=ly enlargeable, hi-res images, follow this link.

To discuss consigning ancient or world coins to Long B=ach or another upcoming auction, please call C=istiano Bierrenbach at 800-872-6467 Ext. 1661 or Warren Tucker at Ext. 1287. <=o:p>

Heritage Auction Gall=ries is the world’s third largest auction house, and by far the largest auctioneer of rare collectibles, with annual sales over $600 million, and 400,000+ registered online bidder-members. For more information about Heritage’s auctions, and to join and gain access to a complete record of pr=ces realized, along with full-color, enlargeable photos of each lot, please vis=t www.HA.com.

media contact:

Kelley Norwine=/p>

1-800-872-6467 Ext. 1583

KelleyN@HA.com

Heritage Auction Galleries, <

3500 Maple Avenue, 17th Floor

Dallas, TX 75219

Please direct photography reques=s to:

Cindy Brenner

1-800-872-6467 x 1289=/span>