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Shaw, W.A. (1967) [1896], The history of currency 1251 to 1894: being an account of the gold and silver moneys and monetary standards of Europe and America, together with an examination of the effects of currency and exchange phenomena on commercial and national progress and well-being, New York: G.P. Putnam's Sons, reprinted by Augustus M ...
For the English North American colonists, however, the Spanish peso or "piece of eight" has always held first place, and this coin was also called the "dollar" as early as 1581. After the Declaration of American Independence , the United States dollar was introduced in 1792 at par with this coin at 371.25 grains = 0.7735 troy ounces = 24.0566 g.
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 ...
Foreign coins, including the Spanish dollar, were also widely used [9] as legal tender, until 1857. With the enactment of the National Banking Act of 1863—during the American Civil War—and its later versions that taxed states' bonds and currency out of existence, the dollar became the sole currency of the United States and remains so today.
This coin was known to English colonists in North America as a piece of eight, then later on as a Spanish dollar, Spanish milled dollar, and finally as a Mexican dollar. In French, it was called a piastre and in Portuguese, a pataca or patacão. The Spanish names at various times and in various places were real de a ocho, patacón, duro, or fuerte.
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".
The currency of the American colonies, 1700–1764: a study in colonial finance and imperial relations. Dissertations in American economic history. New York: Arno Press, 1975. ISBN 0-405-07257-0. Ernst, Joseph Albert. Money and politics in America, 1755–1775: a study in the Currency act of 1764 and the political economy of revolution. Chapel ...
Series C (did not circulate under Spanish control) bills were issued with a release date of "May 1, 1900", some were over stamped with "Moneda Americana" (American money) in bold red letters. During this timeframe, they produced 100-peso banknotes featuring the lamb, Puerto Rico's official emblem. The bank was inaugurated on February 1, 1890 ...