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The Spanish dollar was the coin upon which the original United States dollar was based (at 0.7735 troy ounces or 24.06 grams), and it remained legal tender in the United States until the Coinage Act of 1857.
The silver 8-real coin was known as the Spanish dollar (as the coin was minted to the specifications of the thaler of the Holy Roman Empire and Habsburg monarchy), peso, duro or the famous piece of eight. Spanish dollars minted between 1732 and 1773 are also often referred to as columnarios. The portrait variety from 1772 and later are ...
The 8 reales coin is the predecessor to the American dollar. Before the United States Mint was in production, columnarios circulated, along with other coinage, in the US colonies, as legal tender until the middle of the 19th century. Prior to the columnario, Spanish coins were hammer struck. These rather crude looking coins were called cobs ...
The coins in circulation during the colonial era were, most often, of Spanish and Portuguese origin. [3] For most of the 17th and 18th centuries, the Spanish dollar was one of the few widely accepted denominations by the people, which resulted in it serving as the colonists' interim currency.
Spanish dollars were made legal tender in the U.S. by an act on February 9, 1793. [2] They remained so until demonetization on February 21, 1857. [3] The coin's name first appeared in Florida and Louisiana, where its value was nominally one sixteenth of a dollar, i.e. 6 + 1 ⁄ 4 cents, [4] and whose name was sometimes used in place of the U.S ...
The first distinctive coins minted for Spanish America were copper 4-maravedí pieces authorized for Santo Domingo by Ferdinand on December 20, 1505 (later confirmed by his daughter, Johanna, on May 10, 1531). These coins were minted in Spain (at Burgos and Seville) and shipped to Santo Domingo , and subsequently also to Mexico and Panama. The ...
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Spanish American gold coins were minted in one-half, one, two, four, and eight escudo denominations, with each escudo worth around two Spanish dollars or $2. The two-escudo (or $4 coin) was the "doubloon" or "pistole", and the large eight-escudo (or $16) was a "quadruple pistole".
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