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Silver coins of the 1572 type were minted with PHILIPVS IV and a 1/2-real cob was added to the usual 1, 2, 4, and 8-real denominations. There were major gold deposits in Colombia; a mint opened at Santa Fe de Bogotá in 1620, and it produced the first gold coins (cobs) in Spanish America in 1622.
After 1732 similar, but better shaped cobs were produced on screw presses. Cob denominations were 1 ⁄ 2, 1, 2, 4, and 8 reales. When circulating in New England the larger coins might be cut to give intermediate values; since a real was nicknamed a "bit", the expression "two bits" came to mean a quarter dollar. [2]
Gold coins were issued in denominations of 1 ⁄ 2, 1, 2, 4 and 8 escudos, with the 2 escudos coin known as the doubloon.Between 1809 and 1849, coins denominated as 80, 160 and 320 reales (de vellon) were issued, equivalent, in gold content and value, to the 2, 4 and 8 escudo coins.
Alexander Hamilton arrived at these numbers based on a treasury assay of the average fine silver content of a selection of worn Spanish dollars. [9] The term cob was used in Ireland and the British colonies to mean a piece of eight or a Spanish-American dollar, because Spanish gold and silver coins were irregularly shaped and crudely struck ...
The doubloon (from Spanish doblón, or "double", i.e. double escudo) was a two-escudo gold coin worth approximately four Spanish dollars or 32 reales, [1] and weighing 6.766 grams (0.218 troy ounce) of 22-karat gold (or 0.917 fine; hence 6.2 g fine gold). [2] [3] Doubloons were minted in Spain and the viceroyalties of New Spain, Peru, and New ...
Frederick the Great issued the Friedrich d'or pistole of 5 thalers in 1741 while the gold-silver price ratio of 14.5 was low, making it cheaper to reissue the thaler currency in gold. At 6.05 g fine gold per pistole, each thaler was worth 1.21g fine gold & 1.21 x14.5 = 17.545 g fine silver, cheaper than the prevailing standard of 19.488 g fine ...