Spanish Milled Dollars?? - MR GENE B FOSTER
Subject: Spanish Milled Dollars??
From: MR GENE B FOSTER
Date: March 21, 1999

In perusing old Spartanburg County land records of the late 1700's, I 
find transactions which cite "Spanish milled dollars" as a medium of 
exchange. I understand they are a legacy from the earlier Spanish 
influence, but their value is puzzling.  Land is generally going for 
about $1 to $2 dollars an acre during this period.  A Spanish milled 
dollar was exchanged for parcels of land of from 70 to 200 acres. 
This would indicate a value of over $100.  If it is a gold coin, it 
surely couldn't contain enough gold for this value.  Did it have 
numismatic value, was it prized as "hard money" or were these 
symbolic purchases?

What was its value?

Gene   [email protected]


Distribution:
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