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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 $16) was a "quadruple pistole".
Gold escudos (worth 16 reales) were also issued. The coins circulated throughout Spain's colonies and beyond, with the eight-real piece, known in English as the Spanish dollar, becoming an international standard and spawning, among other currencies, the United States dollar. A reform in 1737 set the silver real at two and half billon reales ...
There were major gold deposits in Colombia; a mint opened at Santa Fe de Bogotá in 1620, and it produced the first gold coins (cobs) in Spanish America in 1622. Unlike silver, the gold coins show the king's portrait obverse. A second illegal debasement of the cob coinage in the Viceroyalty of Peru in 1631–1648 was a major scandal.
Coins were minted in both Spain and Latin America from the 16th to 19th centuries in silver 1 ⁄ 2, 1, 2, 4 and 8 reales nacionales and in gold 1 ⁄ 2, 1, 2, 4 and 8 escudos. The silver 8-real coin was known as the Spanish dollar (as the coin was minted to the specifications of the thaler of the Holy Roman Empire and Habsburg monarchy ), peso ...
Even gold coins in higher circulation can sell for a couple... Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
Many other currencies around the world, such as the Japanese yen and the Chinese yuan, were initially based on the Spanish dollar and other 8-real coins. [5] Most theories trace the origin of the "$" symbol, which originally had two vertical bars, to the pillars of Hercules wrapped in ribbons that appear on the reverse side of the Spanish ...
Fewer than 1,800 of these coins were ever produced, and one expert puts the number of remaining coins at between 120 and 130, so it’s quite rare. The coin sold at auction for $12 million in 2022. 2.
The first escudo was a gold coin introduced in 1535/1537, with coins denominated in escudos issued until 1833. It was initially worth 16 reales . When different reales were introduced, the escudo became worth 16 reales de plata in 1642, then 16 reales de plata fuerte or 40 reales de vellón from 1737.