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The Spanish dollar, also known as the piece of eight (Spanish: real de a ocho, dólar, peso duro, peso fuerte or peso), is a silver coin of approximately 38 mm (1.5 in) diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g (0.8219 ozt) fine silver.
The first ordinance officially devaluing the Spanish non-colonial real came out in 1642, with the real provincial debased from 67 to 83 + 3 ⁄ 4 to a mark of silver (hence, 10 reales to the dollar). Actual coins worth 1 ⁄ 2 , 1, 2, 4 and 8 reales provincial (the latter worth 4 ⁄ 5 of a dollar and called peso maria ) were minted in 1686 and ...
Most issued silver coins in denominations of 1 ⁄ 4, 1 ⁄ 2, 1, 2, 4 and 8 reales and gold coins for 1 ⁄ 2, 1, 2, 4 and 8 escudos. Exceptions were the Santo Domingo mint, which did strike maravedíes in the sixteenth century and the Caracas mint which issued fraction of real copper coins in the early nineteenth century to facilitate commerce.
This doubloon of 8 escudos eventually became the most common Spanish gold coin, equivalent to 16 silver pesos. The 1566 reform also provided for a silver 8-real coin, the real de a ocho or peso duro (which had already been minted in Spain in limited number). This coin, 39–40 mm, 27·468 g, containing 25·561 g pure silver, was now struck in ...
In the US, the bit is equal to 12 + 1 ⁄ 2 ¢, a designation which dates from the colonial period, when the most common unit of currency used was the Spanish dollar, also known as "piece of eight", which was worth 8 Spanish silver reales. $ 1 ⁄ 8 or 1 silver real was 1 "bit". [1] [2] With the adoption of the decimal U.S. currency in 1794 ...
Real de plata is a Spanish term, translated as: "silver real", a historic silver coin and standard currency.. Spanish colonial real Spanish: real de plata; currency standard and silver coin; eight to the Spanish dollar
Rich deposits of silver in southern Mexico and Guatemala, allowed the Spaniards to mint great quantities of silver coins. The Spanish dollar was a Spanish coin, the real de a ocho and later peso, worth eight reals (hence the nickname "pieces of eight"), which was widely circulated during the 18th century.
The name peso was given to the 8-real silver coin introduced in 1497, minted at 8 3 ⁄ 8 pesos to a Castilian mark (230.0465 grams) of silver 134/144 fine (25.56 g fine silver). It was minted in large quantities after the discovery of silver in Mexico, Peru and Bolivia in the 16th century, and immediately became a coin of worldwide importance ...
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