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| In 1794, the U. S. Mint used the Spanish silver dollar as a template for the U. S. silver dollar, so many numismatists believe that the Spanish eight real coin was the forerunner of the U. Numismatics (numisma nomisma "coin" from the νομίζειν nomízein, "to use according to law" is the study or collection of Currency The real was a unit of currency in Spain for several centuries main - title Coin keywords numismatics coin review S. dollar. Spanish dollars were cut into halves, quarters, and eighths and were known as "pieces of eight. " Click on any image for a closer view. | ||||||
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The Spanish dollar (also known as the piece of eight, the real de a ocho, or the eight real coin) is a silver coin, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen main - title Coin keywords numismatics coin review The real was a unit of currency in Spain for several centuries The Spanish Empire (Imperio Español was one of the largest Empires in history and one of the first Global empires In the 15th and 16th centuries It was legal tender in the United States until an Act of the United States Congress discontinued the practice in 1857. Legal tender or forced tender is Payment that by Law, cannot be refused in settlement of a Debt ( Debtor cannot successfully be sued The United States of America —commonly referred to as the The United States Congress is the bicameral Legislature of the federal government of the United States of America, consisting of two houses Click here for Indian Rebellion of 1857 Year 1857 ( MDCCCLVII) was a Common year starting on Thursday (link will display the Through widespread use in Europe, the Americas and the Far East, it became the first world currency by the late 18th century. The Americas are the lands of the Western hemisphere or New World, consisting of the Continents of North America and South America The Far East is a term often used by people in the Western world to refer to the countries of East Asia. In the Foreign exchange market and International finance, a world currency or global currency refers to a Currency in which the vast majority The 18th century lasted from 1701 to 1800 in the Gregorian calendar, in accordance with the Anno Domini / Common Era numbering system Many existing currencies, such as the Canadian dollar, United States dollar and the Chinese yuan, as well as currencies in Latin America and the Philippine peso were initially based on the Spanish dollar and other 8 reales coins. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been The peso ( Filipino: piso) ( sign: ₱; code: PHP) is the currency of the Philippines.
The term peso was used in Spanish to refer to this denomination and it became the basis for many of the currencies in the former Spanish colonies, including the Argentine, Chilean, Colombian, Costa Rican Cuban, Dominican, Ecuadorian, Guatemalan, Honduran, Mexican, Nicaraguan, Paraguayan, Philippine, Puerto Rican, Salvadoran, Uruguayan and Venezuelan pesos. The word peso (meaning weight in Spanish was the name of a coin that originated in Spain and became of immense importance internationally The peso (originally established as the nuevo peso argentino or peso convertible) is the currency of Argentina. The peso is the Currency of Chile. The current peso has circulated since 1975 with a previous version circulating between 1817 and 1960 only the letters that would be capitalized in that language in the middle of a sentence The peso was the currency of Costa Rica between 1850 and 1896 The peso ( ISO 4217 code CUP, sometimes called the "national peso" is one of two official currencies in use in Cuba, the other being the The peso oro is the currency of the Dominican Republic. Its symbol is " $ " with "RD$" used when distinction from other Pesos The peso was a Currency of Ecuador until 1884 History Peso was the name of the 8 reales coins circulating in Ecuador since the Spanish colonial period The peso was the currency of Guatemala between 1859 and 1925 History The peso replaced the Central American Republic real, with 1 peso = 8 reales The peso was the Currency of Honduras between 1862 and 1931. History The peso replaced the real at a rate of 1 peso The peso ( sign: $; code: MXN) is the currency of Mexico. The symbol used for the peso is " $ " basically The peso was the currency of Nicaragua between 1878 and 1912 It was Nicaragua's first national currency replacing the Central American Republic real and that of The peso was the currency of Paraguay between 1856 and 1944. It replaced the real at a rate of 8 reales = 1 peso The peso ( Filipino: piso) ( sign: ₱; code: PHP) is the currency of the Philippines. The Peso was a Currency used in Puerto Rico between 1812 and 1898 The peso was the Currency of El Salvador between 1877 and 1919 This article is about the present currency of Uruguay. For Uruguay's earlier monetary history see Currency of Uruguay. The peso was a currency of Venezuela until 1874. History Until 1821 the Spanish colonial real circulated in Venezuela
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History
Spain
Following the introduction of the Guldengroschen in Austria in 1486, the concept of a large silver coin with high purity (sometimes known as "specie" coinage) eventually spread throughout the rest of Europe. The Guldengroschen was a large Silver Coin originally minted in Tirol in 1486. Monetary reform in Spain brought about the introduction of an 8 reales coin in 1497.
The coin was minted with several different designs in the following centuries at various mints in Spain through to the 19th century, having gained wide acceptance beyond Spain's borders. In the 19th century, the coin's denomination was changed to 20 reales (based on 20 reales de vellon) and finally 2 escudos.
Spain's adoption of the peseta and joining the Latin Monetary Union meant the effective end for the last vestiges of the Spanish dollar in Spain itself. However, the 5 pesetas coin was slightly smaller and lighter but was also of high purity (90%) silver.
In the 1990s, commemorative 2000 pesetas coins were minted, similar in size and weight to the 8 reales and also with high finesse.
Mexico
Following independence in 1821, Mexican coinage of silver reales and gold escudos followed that of Spanish lines until decimalisation and the introduction of the peso. The Mexican 8 reales coin (eventually becoming a 1 peso coin) continued to be a popular international trading coin throughout the 19th century.
After 1918, the Peso was reduced in size and finesse with further reductions in the 1940s and 1950s. However, 2 (1921), 5 (1947) and 10 (1955) peso coins were minted in the same period, similar in size and finesse to the old peso.
United States
The Coinage Act of 1792 created the United States Mint, but the first U.S. dollars were not as popular as the Spanish dollars, which were heavier and were made of finer silver. The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, established the United States Mint and regulated The United States Mint primarily produces circulating coinage for the United States to conduct its Trade and Commerce. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen An eight real coin nominally weighed 550. 209 Spanish grains, which is 423. 900 troy/avoirdupois grains (0. In many cultures a grain is a unit of measurement of Mass that is based upon the mass of a single seed of a typical Cereal. 883125 troy ounce or 27. Troy weight is a system of units of Mass customarily used for Precious metals Black powder, and Gemstones Named after Troyes 468 grams), . 93055 fine: so contained 0. 821791 troy ounce (25. 560 grams) fine silver. Its weight and purity varied significantly between mints and over the centuries. In contrast, the Coinage Act of 1792 specified that the U. The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, established the United States Mint and regulated S. dollar would contain 371 4/16 grain (24. 1 g) pure or 416 grain (27. 0 g) standard silver.
The coins had a nominal value of eight reales ("royals"). The real was a unit of currency in Spain for several centuries The coins were often physically cut into eight "bits", or sometimes four quarters, to make smaller change. The word bit is a colloquial reference to a specific Coin in various Coinages throughout the world This is the origin of the colloquial name pieces of eight for the coin, and of "quarter" and "two bits" for twenty-five cents in the United States.
Prior to the American Revolution there was, due to British mercantilist policies, a chronic shortage of British currency in its colonies. In this article the inhabitants of the thirteen colonies that supported the American Revolution are primarily referred to as "Americans" with occasional references to "Patriots" Mercantilism is the idea that a colony should export more goods than it imports and that a colony should sell at higher prices and buy at lower prices Trade was often conducted using Spanish dollars. Spanish coinage was legal tender in the United States until an Act of Congress discontinued the practice in 1857. Click here for Indian Rebellion of 1857 Year 1857 ( MDCCCLVII) was a Common year starting on Thursday (link will display the The pricing of equities on U. S. stock exchanges in 1/8 dollar denominations persisted until the New York Stock Exchange converted to pricing in sixteenths of a dollar on June 24, 1997, to be followed shortly after by decimal pricing. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Events 972 - Battle of Cedynia, the first documented victory of Polish forces takes place Year 1997 ( MCMXCVII) was a Common year starting on Wednesday (link will display full 1997 Gregorian calendar
Long tied to the lore of piracy, "pieces of eight" were manufactured in the Americas and transported in bulk back to Spain (to pay for wars and various other things), making them a very tempting target for seagoing pirates. Piracy is Robbery committed at sea or sometimes on shore without a commission from a sovereign Nation (as distinct from Privateering Some pirates were among the richest people in the world. The Manila Galleon transported Mexican silver to Manila in Spanish Philippines, where it would be exchanged for Philippine and Chinese goods, since silver was the only foreign commodity China would take. The Manila galleons or Manila-Acapulco galleons ( Galeones de Manila-Acapulco) were Spanish trading Ships that sailed once or twice The City of Manila The Philippines ( Filipino: Pilipinas, officially known as the Republic of the Philippines (fil ''Republika ng Pilipinas'' RP In oriental trade, Spanish dollars were often stamped with Chinese characters known as "chop marks" which indicate that particular coin had been assayed by a well-known merchant and determined genuine. An assay is a procedure where a property or concentration of an Analyte is measured
Thanks to the vast silver deposits that were found in Mexico (for example, at Taxco and Zacatecas) and Potosí in modern-day Bolivia, and to silver from Spain's possessions throughout the Americas, mints in Mexico and Peru also began to strike the coin. The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America. Taxco de Alarcón ( Taxco) is a former colonial silver-mining center in the northern part of the Mexican state of Guerrero on the western arm of the Zacatecas is a city in Mexico, the capital of the state of Zacatecas. Potosí is a city the capital of the department of Potosí in Bolivia. The Republic of Bolivia (República de Bolivia) named after Simón Bolívar, is a Landlocked country in central South America. The Americas are the lands of the Western hemisphere or New World, consisting of the Continents of North America and South America Peru (Perú Piruw Piruw officially the Republic of Peru ( reˈpuβlika del peˈɾu is a country in western South America.
Millions of Spanish dollars were minted over the course of several centuries. The dollar (often represented by the Dollar sign: "$" is the name of the official Currency in several countries dependencies and other 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 South-East Asia in the 19th century. main - title Coin keywords numismatics coin review The 19th century of the Common Era began on January 1, 1801 and ended on December 31, 1900, according to the Gregorian calendar They had a value of one dollar when circulating in the United States.
The coin is roughly equivalent to the silver thaler issued in Bohemia and elsewhere since 1517. The Thaler (or Taler or Tolar) was a Silver Coin used throughout Europe for almost four hundred Years Its name lives on Bohemia (Čechy; Bohemia Czechy is a historical region in central Europe, occupying the western two-thirds of the traditional Czech Lands, currently the The German name "thaler" (pronounced "tah-ler" — and "dahler" in Low German) became dollar in French and English. The German language (de ''Deutsch'') is a West Germanic language and one of the world's major languages. Low German or Low Saxon (in Germany: Plattdüütsch or Nedderdüütsch; in Netherlands: Nedersaksisch or Nederduuts
In fiction
In modern pop-culture and fiction, "Pieces of Eight" are most often associated with the popular notion of pirates. In American and British popular culture the modern pirate stereotype owes its tradition mostly to depictions of Captain Hook and his crew in theatrical and film
Fictional portrayals
- In Robert Louis Stevenson's Treasure Island, Long John Silver's parrot had apparently been trained to cry out, "Pieces of eight!" This use tied the coin (and parrots) to fictional depictions of pirates. Robert Louis Balfour Stevenson (13 November 1850–3 December 1894 was a Scottish novelist poet and travel writer, and a representative of Neo-romanticism in Treasure Island is an adventure Novel by author Robert Louis Stevenson, narrating a tale of "pirates and buried gold" Long John Silver is a Fictional character in the Novel Treasure Island, by Robert Louis Stevenson. Parrots are birds of the roughly 350 Species in 85 genera comprising the order Psittaciformes, found in most warm and tropical regions In American and British popular culture the modern pirate stereotype owes its tradition mostly to depictions of Captain Hook and his crew in theatrical and film
- In Terry Pratchett's "Going Postal", Reacher Gilt's parrot cries out "twelve and a half percent!" as a parody of Long John Silver's parrot. Terence David John Pratchett, OBE (born 28 April 1948 is an English fantasy, Science fiction, and children's author. Going postal is an American English Slang term used as a verb meaning to suddenly become extremely and uncontrollably angry possibly to the point of violence
- In Yohoho! Puzzle Pirates pieces of eight are the primary in-game currency. Yohoho! Puzzle Pirates is a Massively multiplayer online game.
- In Pirates of the Caribbean: At World's End the Pirate Lords must meet together by presenting the "Nine Pieces of Eight", since these Pieces were used to seal the goddess Calypso in her human form by the first Brethren Court. Pirates of the Caribbean At World's End is a 2007 Adventure film, the third film in the ''Pirates of the Caribbean'' series. Tia Dalma, played by Naomie Harris, is a fictional character from the movie Pirates of the Caribbean Dead Man's Chest and a primary character in the movie
- "Pieces of Eight" is the name of a novelty pirate store outside of the Pirates of the Caribbean ride in Disneyland California. Development Originally envisioned in the late 1950s as a walk-through Wax museum featuring pirates from history the attraction evolved into a boat ride through complex California ( is a US state on the West Coast of the United States, along the Pacific Ocean.
- In RuneScape pieces of eight are a reward for a pirate-themed minigame called "Trouble Brewing" and can be used to purchase special pirate attire. RuneScape is a Java -based MMORPG ( Massively Multiplayer Online Role-Playing Game) operated by Jagex Ltd [1]
- In the Amiga and PC pirate-themed adventure game series, Monkey Island, the traded currency is the piece of eight. The Amiga is a family of Personal computers originally developed by Amiga Corporation. A personal computer ( PC) is any Computer whose original sales price size and capabilities make it useful for individuals and which is intended to be operated An adventure game is a type of Video game characterized by investigation exploration puzzle-solving, interaction with game characters and a focus on Narrative Monkey Island is the collective name given to a series of four graphical Adventure games produced and published by LucasArts, originally
- in Neal Stephenson's The Baroque Cycle numismatics, gold and Pieces of eight are an integral part of the plot. Neal Town Stephenson (born October 31, 1959) is an American writer known primarily for his Science fiction works in the Postcyberpunk genre The Baroque Cycle is a series of novels written by Neal Stephenson. In the second volume The Confusion there is also a subtle reference to the fact that a Piece of eight is composed of 8 "bits" (it is thus a sort of "byte" and a unit of information transfer).
See also
External links
- The Spanish dollar and the colonial shilling
- Information on Columnarios
- Cached legacy website dedicated to 8-Real Spanish Milled Dollars
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