The portrait variety from 1772 and later are typically referred to as Spanish dollars or pillar dollars.Ĭoins were minted in Spain in copper 1, 2, 4 and 8 maravedíes, in silver coins equivalent to 1, 2, 4, 10 and 20 reales de vellón since 1737, and in gold coins equivalent to 1⁄ 2, 1, 2, 4 and 8 escudos. Spanish dollars minted between 17 are also often referred to as columnarios. 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, or the famous piece of eight. Relative sizes of Castilian silver coins, from 1⁄ 4 to 8 reales, according to a 1657 document.Ĭoins were minted in both Spain and Latin America from the 16th to 19th centuries in silver 1⁄ 2, 1, 2, 4 and 8 reales nacional and in gold 1⁄ 2, 1, 2, 4 and 8 escudos. Starting 1810 silver coin denominations were revised to their more common-sense values in reales de vellón: 20, 10, 4, 2 and 1 real with 1 real = 1⁄ 20 dollar. Subsequent changes until the end of the 18th century were minor and involved reducing the fineness of the silver dollar to 130⁄ 144 = 0.9028 fine and the gold escudo (now worth 2 dollars or 40 reales de vellón) from 0.917 to 0.875 fine. This was divided into eight reales de cambio each of 64 maravedíes. The Peso de cambio of 512 maravedíes as introduced in 1686 continued to be used as an accounting unit but worth a reduced value of 512⁄ 680 dollar (approximately 3⁄ 4 of a dollar).The Real de vellón was finally fixed in 1737 at 1⁄ 20 dollar and equal to 34 maravedíes (hence 1 dollar = 20 reales = 680 maravedíes), and.Real provincial coins were limited to 2-, 1- and 1⁄ 2-real denominations worth 1⁄ 5, 1⁄ 10 and 1⁄ 20 dollar, respectively.Real nacional coins were reintroduced in 8-real and 4-real denominations worth 1 dollar and 1⁄ 2 dollar, respectively.The dollar of 8 reales nacionales reduced in 1728 to 8 + 1⁄ 2 dollars to a mark, 11⁄ 12 or 0.9167 fine (24.809 g fine silver).The confusion to the monetary situation would not be resolved until 1737 in various stages, namely: The ineffectiveness of these edicts meant that existing reales de vellón were worth even less than 15 + 2⁄ 34 of a dollar (0.0664 dollars). The same 1686 recoinage came with edicts in 1686–1687 fixing the real de vellón at one dollar = 15 + 2⁄ 34 reales or 512 maravedíes (or 1 dollar = 8 reales nacionales worth 64 maravedíes). 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 were poorly received by the public. 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). The monetary confusion would not be resolved until the real de vellón was fixed at 20 reales to the dollar in 1737. The relative autonomy of Spain's constituent kingdoms resulted in reales of varying silver content and worth considerably less than the real nacional worth 1⁄ 8 of a dollar. The various financial crises under King Philip II gave rise starting in 1600 to the real de vellón (made of billon, or less than half silver). This Spanish colonial real was subsequently referred to as moneda nacional ("national money") and underwent two more changes: This real, worth 1⁄ 8 dollar, was retained in Latin America until the 19th century but was altered considerably in peninsular Spain beginning in the 17th century. These reales were supplemented by the gold escudo, minted 68 to a mark of 11⁄ 12 fine gold (3.101 g fine gold), and valued at 15–16 silver reales or approximately two dollars. After the discovery of silver in Mexico, Peru and Bolivia in the 16th century, the 8-real coin (referred to since then as a dollar, a peso or a piece of eight) became an internationally recognized trade coin in Europe, Asia and North America. The silver real was minted in 1⁄ 2-, 1-, 2-, 4- and 8-real denominations. It circulated beside various other silver coins until a 1497 ordinance eliminated all other coins and retained the real (now minted 67 to a mark of silver, 0.9306 fine, fine silver of 3.195 grams) subdivided into 34 maravedíes. The first real was introduced by King Pedro I of Castile in the mid 14th century, with 66 minted from a Castilian mark of silver (230.0465 grams) in a fineness of 134⁄ 144 (0.9306), and valued of 3 maravedíes. Spanish 1799 silver 8 reales, Charles IV (reverse)
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |