Spanish Coin: Pillar Dollars

On My trip to Kota Kinabalu recently, I bought this silver coin from one of the coin trader there. I try to google any information on this coin that i can read and I found this article about this item. This is a spanish coin from mexico which were popularly known as'Pillar Dollars'' (from the design) or ''Pieces of Eight'' (from the practice of cutting them in pieces to make change), most often in quarters (two reales), from which we get the expression ''two bits.''

On the obverse, the two hemispheres of the earth represent the Old and New Worlds, with waves below to represent the sea that divided the Old and New Worlds. The Pillars of Hercules represent the Strait of Gibraltar, Spain's gateway to the new world, and the crowns show Spain's power over both the Old and New worlds. The banners on the Pillars show the motto PLUS VLTRA, ''more beyond,'' a reference to the discovery of the New World. At the top is the legend VTRAQUE VNUM, '''both are one,'' an expression of Spain's oneness with its colonies, with the date and mintmarks at the bottom.

On the reverse is the crowned Spanish Royal family's coat of arms, with the castle representing Castile, the lion representing Leon, and the fleur de lis representing the Bourbon dynasty. On the left are the assayer's initials, with the denomination on the right. The legend PHILIP V D G HISPAN ET IND REX, stands for ''Philip V, by the grace of God, king of Spain and the Indies.''

I found this info via Google from this website:
mysite.verizon.net/vzeqg1oh/priv-hjd.htm