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The British East India Company had established a regular trade with China by 1720, paying for goods with Spanish silver. To prevent sweating and clipping, laws of 1728 and 1730 adopted modern minting techniques. Gold and silver coins were to be perfectly round and to have milled edges. There was a reduction in weight and fineness, the peso ...
Silver, trade, and war: Spain and America in the making of early modern Europe (JHU Press, 2000). excerpt; TePaske, John J. A new world of gold and silver. Brill, 2010. TePaske, John J. The Royal Treasuries of the Spanish Empire in America, 2 vol (1982) vol1 online also vol 2 online; Xiantang, Li.
Most issued silver coins in denominations of 1 ⁄ 4, 1 ⁄ 2, 1, 2, 4 and 8 reales and gold coins for 1 ⁄ 2, 1, 2, 4 and 8 escudos. Exceptions were the Santo Domingo mint, which did strike maravedíes in the sixteenth century and the Caracas mint which issued fraction of real copper coins in the early nineteenth century to facilitate commerce.
Following independence in 1821, Mexican coinage of silver reales and gold escudos followed that of Spanish lines until decimalization and the introduction of the peso, worth 8 reales or 100 centavos. It continued to be minted to Spanish standards throughout the 19th century , with the peso at 27.07 grams (0.955 oz) of 0.9028 fine silver, and ...
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 ...
In 1897, a single issue of gold Pts 100 was made. Production of gold coins ceased in 1904, followed by that of silver coins in 1910. The last bronze coins were issued in 1912. Starting in 1906 a new series of 1 ctm and 2 cts coins were issued in bronze. Due to a number of economic issues these were the only two coins from this series.
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.
The severe shortage of precious metals during the late 15th and early 16th centuries eased in the second half of the 16th century. The Spanish mined American gold and silver at minimal cost and flooded the European market with an abundance of specie.