Spanish Colonial Eight Reales
The Spanish 8 Reales was considered as the world’s money standard from the time that Mexico Mint began striking coins in the late 1530’s until 1850’s. In fact, the Spanish Milled Dollar was a phrase, especially for those people who are native speakers. These Spanish 8 Reales was produced on a coin press from 1732-1826.
Today many divers search the oceans looking for treasures of Spanish Shipwreck coins to find their own eight reales
These coins are described as round and show the Pillars of Hercules surrounding the crown, conjoined globes, and ocean waves. Along the left side is the date is the mint mark. Meanwhile, the reverse shows a crowned protect with the assayers initials to the left and the coinage in reales to the right.
Most Asian and European used Spanish Milled Dollars for their own countries. In USA, these coins were serving as an official tender up during the Civil War period. Milled Dollars had a dominant effect on the U.S. denomination system.
The reason why the Spanish Reales are often established at historic sites in the US is that all through colonial days in the U.S., the silver Ocho Reales coin, called as the Spanish milled dollar, piece of eight, or eight bits, was the primary coin in circulation. This coin and its various fractional parts (the half, one, two, and four Reales) were the legal coinage until February 21, 1857.
Also, the great mainstream of these coins were Mexican pesos, due to the physical proximity to mexico and the great production of the Mexican mints.
The first Real was established by King Pedro the Cruel from 1350-1365 and became a unit of currency in Spain for many centuries. During 1642, two distinct reales were produced, the Real de Plata (made of silver) and the Real de Vellón (made of billon). Moreover, Real de Plata was become a standard coin issued until the early on 19th century.
Denominations of ½, 1, 2, 4 and 8 Reales were minted. In 1536, the first coins produced in America were Johanna and Carolus.
The first 8-real piece produced in America was Felipe II (1556-1598), and has a remarkable beginning over 450 years of permanent coining at the Mexico City Mint. All through the western hemisphere, Spanish coins was controlled over.
Several Spanish Colonial mints struck coins, which are similar with regular Spanish issues until 1820’s. The Real was often separated into pie-shaped wedges or pieces to make transformation. In fact, an eight real coin, for an instance, could be engraved into eight pieces worth of one real each.
Each of these pieces was considered to as a “bit,” which has a wedge-shaped piece of silver that is equivalent with 1 Real in metal mass and monetary exchange rate. Currency depends on the cost of the silver, and the colonists usually used the Spanish milled dollar over other types of silver coinage.
The Spanish Real was favoured because it had a pounded border which would prevent the shaving of silver from the border of the coin.
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