The Spanish dollar, also known as the piece of eight (Spanish: Real de a ocho, Dólar, Peso duro, Peso fuerte or Peso), is a silvercoin of approximately 38mm (1.5in) diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g = 0.822 oz t fine silver. It was widely used as the first international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency.[1]
Former coin of the Spanish Empire
"Pieces of eight" redirects here. For the album, see Pieces of Eight.
Reverse FERNANDVS ET ELISABET DEI GR[ATIA] "Ferdinand and Elisabeth, by the Grace of God" Displays the arms of the Catholic Monarchs post 1492, with Granada in base. Letter S on the left is the sign of the mint of Seville and VIII on the right i.e. eight in roman numerals.
Obverse REX ET REGINA CASTELE LEGIONIS A[RAGONIS] "King and Queen of Castile, Leon, Aragon..." Displays the personal emblems of the monarchs: Ferdinand's arrows and Isabella's yoke.
Reverse VTRAQVE VNUM M[EXICO] 1739 "Both (are) one, Mexico [City Mint], 1739" Displays two hemispheres of a world map, crowned between the Pillars of Hercules adorned with the PLVS VLTR[A] motto.
Obverse PHILIP[PUS] V D[EI] G[RATIA] HISPAN[IARUM] ET IND[IARUM] REX "Philip V, by the Grace of God, King of the Spains and the Indies" Displays the arms of Castile and León with Granada in base and an inescutcheon of Anjou.
Reverse VTRAQVE VNUM M[EXICO] 1753 M "Both (are) one, Mexico [City Mint], 1753." Displays two hemispheres of a world map, crowned between the Pillars of Hercules adorned with the PLVS VLT[R]A motto.
Obverse FERD[INA]ND[US] VI D[EI] G[RATIA] HISPAN[IARUM] ET IND[IARUM] REX "Ferdinand VI, by the Grace of God, King of the Spains and the Indies" Displays the arms of Castile and León with Granada in base and an inescutcheon of Anjou.
Obverse CAROLUS III DEI GRATIA 1776 "Charles III by the Grace of God, 1776" Right profile of Charles III in toga with laurel wreath
Reverse HISPAN[IARUM] ET IND[IARUM] REX M[EXICO] 8 R[EALES] F M "King of the Spains and the Indies, Mexico [City Mint], 8 reales" Crowned Spanish arms between the Pillars of Hercules adorned with PLVS VLTRA motto
Obverse CAROLUS IIII DEI GRATIA 1806 "Charles IV by the Grace of God, 1806." Right profile of Charles IV in soldier's dress with laurel wreath. It was under the reign of this monarch that the United States Mint began the U.S. silver dollar in 1794.
Reverse HISPAN[IARUM] ET IND[IARUM] REX M[EXICO] 8 R[EALES] T H"King of the Spains and the Indies, Mexico [City Mint], 8 Reales." Crowned Spanish coat of arms between the Pillars of Hercules adorned with PLVS VLTRA motto
Obverse FERDIN[ANDUS] VII DEI GRATIA 1821"Ferdinand VII by the Grace of God, 1821." Right profile of Ferdinand VII with cloak and laurel wreath
Reverse HISPAN[IARUM] ET IND[IARUM] REX M[EXICO] 8 R[EALES] I I"King of the Spains and the Indies, Mexico [City Mint], 8 reales." Crowned Spanish coat of arms between the Pillars of Hercules adorned with PLVS VLTRA motto
The Spanish dollar was the coin upon which the original United States dollar was based (at 0.7735 oz t = 24.0566 g), and it remained legal tender in the United States until the Coinage Act of 1857. Because it was widely used in Europe, the Americas, and the Far East, it became the first world currency by the late 18th century.[2][3][4] Aside from the U.S. dollar, several other currencies, such as the Canadian dollar, the Japanese yen, the Chinese yuan, the Philippine peso, and several currencies in the rest of the Americas, were initially based on the Spanish dollar and other 8-real coins.[5] Diverse theories link the origin of the "$" symbol to the columns and stripes that appear on one side of the Spanish dollar.[6]
Millions of Spanish dollars were minted over the course of several centuries. They were among the most widely circulating coins of the colonial period in the Americas, and were still in use in North America and in Southeast Asia in the 19th century.
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