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The Spanish silver dollar had been the world's outstanding coin since the early 16th century, and was spread partially by dint of the vast silver output of the Spanish colonies in Latin America. More important, however, was that the Spanish dollar, from the 16th to the 19th century, was relatively the most stable and least debased coin in the ...
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 choice of a quarter-dollar as a denomination, as opposed to the 1 ⁄ 5 or the 20-cent piece that is more common elsewhere, originated with the practice of dividing Spanish milled dollars into eight wedge-shaped segments, which gave rise to the name "piece of eight" for that coin. [3] "
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 ...
In Flanders the lower value copper coins are known as koper (copper) or rosse (~ginger, referring to the colour). Ege in Finland and Pavo (which is the usual Spanish translation of buck on movies or TV shows when it refers to dollars) in Spain are also terms applied to the euro. In France, the term "balles" must have been missed as it came back ...
Hence the name piastre referred to two distinct kinds of coins in two distinct parts of the world, both of which had descended from the Spanish pieces of eight. Because of the debased values of the piastres in the Middle East, these piastres became subsidiary units for the Turkish, Lebanese, Cypriot, and Egyptian pounds. [1]
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The coins bore markings from the Spanish mint in Mexico, along with the date 1783. [6] [7] Treasure from the ship was originally housed in a safe at the old Grand Bay State Bank building in Grand Bay, Alabama. In December 2004 the Executors of the Reahard estate hired Jonathan Lerner of Scarsdale Coin to appraise the coins.