1755–1783 Complete Pillar Set: 8R, 4R, 2R, 1R, 1/2R

This is one of only 5 known complete Pillar denomination sets (8 Reales, 4 Reales, 2 Reales, 1 Real, and 1/2 Real) recovered from the wreck of the Spanish brig of war El Cazador, all encapsulated and certified by NGC. The Certificate of Authenticity was originally signed by Robin Danziger (ANA #R-164636) and later countersigned by shipwreck specialist Craig A. Boyd, noting "Only 5 sets of Pillar coins were pulled on the wreck. This set is #3 of 5."

The 4 Reales from the El Cazador are extremely rare - relatively few were found on the wreck - and this set includes one from the Lima mint (1770 LIMA JM 4R), which is rarer still.

The El Cazador was a Spanish brig of war sailing from Vera Cruz, Mexico, to New Orleans. Her cargo of some 450,000 pesos of newly minted silver coins was meant to stabilize the fragile economy of Spanish Louisiana, which had been undermined by the use of French paper currency. The fact that those coins never arrived likely hastened the decision to cede Louisiana to Napoleon in 1800 - who shortly thereafter sold it to the fledgling United States for $15 million in the Louisiana Purchase. In a very real sense, the loss of this single ship helped redraw the map of North America.

Nobody knows exactly how the El Cazador was lost. No trace of her was found until 1993, when a fishing crew led by Captain Jerry Murphy snagged their net on something about 50 miles south of New Orleans in the Gulf of Mexico. When the net came up, it spilled hundreds of silver coins onto the deck of Jerry's boat - aptly named Mistake. The fishermen secured the rights to the find and began salvage operations under the name Grumpy Inc.

The Pillar dollar - "Columnario" - depicts the crowned arms of Spain on the obverse with the legend CAROLUS III DEI GRATIA, and on the reverse the two crowned hemispheres between the Pillars of Hercules with the motto PLVS VLTRA ("More Beyond") - the very design that became the model for the U.S. dollar and the global trade coin of the 18th century. The smaller denominations are extremely difficult to find intact: most of the wreck consisted of 8 Reales, and the fractional pieces were often broken up into "bits" for small change before they were even loaded.

History courtesy of Sedwick Auctions. Photography by Peter Garrison.