Colonial Silver - I think

[NJ Garrett]

Hi all!

It's me again. We had wonderful weather today in NJ, so I decided to go on another treasure hunt on my parent's property. As I've mentioned before, this is a piece of property that my family purchased in 1902...and the house dates back to the 1700's. The road is named after the house, which used to be a tavern. My parent's are selling the house, because they cannot afford the taxes, and this sparked my interest in metal detecting...in a quest to be able to pass some of the history down to my future generations, even if we no longer own the property.

Today was a real surprise. I came upon a signal (in an area that I've searched many times over). I dug it up, and about 3 inches down, I discover the most unusual silver coin! Upon cleaning it off, I discover that this little guy was minted in 1770! I did some research, and I think that it's a spanish "milled" half real. Can anyone confirm?

I have no plans on selling this, but I'm curious if anyone has an idea of the value of this coin. I'm so excited to have recovered this treasure, nearly 250 years after it was minted! *feeling proud*

 

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[CRUSADER]

try adding the picture?

 

[NJ Garrett]

Should have the picture now!

 

[CASPER-2]

 

[NJ Garrett]

Also, I was curious if it was common for coins like this to have a hole through the middle, or is this wear and tear? Any insight would be greatly appreciated!

 

[CRUSADER]

Also, I was curious if it was common for coins like this to have a hole through the middle, or is this wear and tear? Any insight would be greatly appreciated!

lots have holes but they are normally closer to the edge

 

[americanzero]

Usually, coins were holed at the rim for a reason. You used to run the coins on a piece of string of leather, essentially making a wallet. You see it most on half dimes due to their diminutive size. The string made them harder to lose!

 

[terpfan]

Nice job on the 1770 half real, Mexico City mint. Sadly there will not be much monetary value to the coin--- it will be worth much more to you and to your family. Hopefully you can uncover more treasure before the house is sold.

 

[jewelerguy]

Also, I was curious if it was common for coins like this to have a hole through the middle, or is this wear and tear? Any insight would be greatly appreciated!

great find. if you're asking if it was made with the hole, the answer is no

 

[relicmeister]

Nice find, NLGarrett. You're right-the weather was nice today (Northern NJ, NE Pa) I can't wait to see what else you find on your parents property.

 

[NJ Garrett]

I have until March 2014. Not much time left!

 

[gunsil]

Usually, coins were holed at the rim for a reason. You used to run the coins on a piece of string of leather, essentially making a wallet. You see it most on half dimes due to their diminutive size. The string made them harder to lose!

I doubt seriously that anyone drilled coins and put them on a string to keep them. This removes metal and makes them worth less in metal value. Coins were drilled with holes near the rim for jewelry use and you can find necklaces of multiple old drilled coins at antique shows, etc. You do mostly see this done on smaller coins. Nice find by the way!! Many old large copper coins were center holed and used as washers on old slate roofs, but I don't know why someone would center hole a small silver.

 

[HomeGuardDan]

Hold coins in the center generally were from being nailed above a door for good luck. I have also seen and dug some that were holed and had an applied shank attached in the center for use as a button.

 

[ModernMiner]

Way to go on the old silver. I think the holed coins are a lot more interesting. My oldest US coin, a 1833 Capped Bust Half Dime, was also holed.
Congrats,
MM

 

[pescadore]

Congratulations on your 250 year old silver !!! Look like you have the ID right to me. I know you were thrilled to find such an old coin, I know I would have been.

 

[americanzero]

Yes, now it seems pointless to remove a bit of silver like that. But 150+ years ago? you were removing little in terms of value in currency. Would you turn down a modern coin in change just because it had a hole in it? And what would be worse, drilling the little coin, or losing 5 or more cents, which could well have been a days wages! All about perspective!

 

[voodoo]

nice find!

 

[Mackaydon]

NJ G :
One way to confirm its denomination is to measure it. If it measures 16mm= 1/2R; and 20mm=1R.
You're lucky in another respect; in the following year, the fineness of sliver was reduced from .9167 to .9027; then again in 1786 to .8958. Every bit counts !
Don.....

 

[Steve in PA]

Congrats on the Spanish silver and a nice piece of history from your family property. Hopefully you can find much more before the place sells. From the sounds of it there should be more colonial goodies lurking in the ground.

 

[CRUSADER]

I doubt seriously that anyone drilled coins and put them on a string to keep them. This removes metal and makes them worth less in metal value. Coins were drilled with holes near the rim for jewelry use and you can find necklaces of multiple old drilled coins at antique shows, etc. You do mostly see this done on smaller coins. Nice find by the way!! Many old large copper coins were center holed and used as washers on old slate roofs, but I don't know why someone would center hole a small silver.

These were rarely if ever drilled. They punched a hole which means little or nor silver is lost. The hole was not only to hold them on string/necklaces but to sew them into the clothes for safe keeping on a long journey. It made being robbed less risky.