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Spanish Piece of Eight Silver Coin

Type Object Region Spain Time c. 1497–1730

The Spanish real de a ocho (pieces of eight) was Habsburg Spain's standard silver coin from the 16th century, struck from New World silver at fixed f…

Timeline

  1. c. 1497–1572Seville and Mexico City · MexicoThe Spanish crown unified silver coin fineness and weight standards; output from silver mines like Potosí was struck into piece-of-eight coins at the Mexico and Lima mints and imported to Europe through the port of Seville.
  2. c. 1580–1640Manila galleon route · ManilaPiece-of-eight coins shipped to Europe via Atlantic routes, then carried to Asia aboard the Manila galleons to buy silk and spices, becoming a universal medium of account and payment linking three oceans.
  3. 1641–1650Caribbean and West African coasts · West AfricaIn the 1640s, the piece of eight was the core currency of the triangular slave trade, Caribbean sugar, and privateering spoils; Dutch, English, and French merchants widely accepted and imitated it, forming a global silver circulation network.
  4. c. 1680–1730Spain and Spanish America · Spanish EmpireFalling Spanish American silver output and currency reforms caused fineness fluctuations in the piece of eight; national base currencies and banknotes gradually replaced its international dominance, though physical silver coins persisted long in colonies and frontier trade.

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