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Potosí Silver Dollar

Type Object Region Bolivia Time 1572–1600

Silver coins struck at the royal mint of Potosí, Bolivia from the 1570s to Spanish standards, above all the piece of eight (real de a ocho), a core h…

Timeline

  1. 1572Potosí · Potosí ProvinceIn 1572 Spain established a royal mint at Potosí, striking output from the Cerro Rico silver mine into reales of uniform fineness and weight, replacing the crude early silver bars and providing the empire's finances with a standardized source of currency.
  2. c. 1580–1590Royal Mint of Potosí · BoliviaFrom the 1580s the Potosí mint minted pieces of eight (peso de ocho) in large quantities, stamped with the Spanish royal arms and the Potosí mark, becoming the benchmark silver unit for exchange between the Americas and Europe.
  3. 1591–1600Atlantic trade network · EuropeBetween 1591 and 1600 Potosí's silver output and coinage reached their 16th-century peak; the coins were shipped to Spain with the treasure fleets and re-exported to Asia, circulating widely in Manila in the Philippines and along China's southeastern coast, driving the formation of a global silver trade network.

Sources