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Cob (coin)
The Spanish dollar, also known as the piece of eight (, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content fine silver. It was widely used as the first international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency. Because the Spanish dollar was widely used in Europe, the Americas, and the Far East, it became the first world currency by the 16th century. The Spanish dollar was the coin upon which the original United States dollar was based (at ), and it remained legal tender in the United States until the Coinage Act of 1857. 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. Most theories trace the origin of the "$" symbol, which origina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catholic Monarchs
The Catholic Monarchs were Isabella I of Castile, Queen Isabella I of Crown of Castile, Castile () and Ferdinand II of Aragon, King Ferdinand II of Crown of Aragón, Aragon (), whose marriage and joint rule marked the ''de facto'' unification of Spain. They were both from the House of Trastámara and were second cousins, being both descended from John I of Castile; to remove the obstacle that this consanguinity would otherwise have posed to their marriage under canon law, they were given a Dispensation (Catholic canon law), papal dispensation by Sixtus IV. They married on October 19, 1469, in the city of Valladolid; Isabella was 18 years old and Ferdinand a year younger. Most scholars generally accept that the unification of Spain can essentially be traced back to the marriage of Ferdinand and Isabella. Their reign was called by W.H. Prescott "the most glorious epoch in the annals of Spain". Spain was formed as a dynastic union of two crowns rather than a unitary state, as Castil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles IV Of Spain
Charles IV (; 11 November 1748 – 20 January 1819) was King of Spain and ruler of the Spanish Empire from 1788 to 1808. The Spain inherited by Charles IV gave few indications of instability, but during his reign, Spain entered a series of disadvantageous alliances and his regime constantly sought cash to deal with the exigencies of war. He detested his son and heir Ferdinand VII, Ferdinand, who led the unsuccessful El Escorial Conspiracy and later forced Charles's abdication after the Tumult of Aranjuez in March 1808, along with ousting Charles's widely hated first minister Manuel Godoy. Summoned to Bayonne by Napoleon Bonaparte, who forced Ferdinand VII to abdicate, Charles IV also abdicated, paving the way for Napoleon to place his older brother Joseph Bonaparte on the throne of Spain. The reign of Charles IV turned out to be a major negative turning point in Spanish history. Early life Charles was the second son of Charles III of Spain, Charles III and his wife, Maria Amalia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1857
The Coinage Act of 1857 (Act of Feb. 21, 1857, Chap. 56, 34th Cong., Sess. III, 11 Stat. 163) was an act of the United States Congress which ended the status of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the United States Department of the Treasury, Treasury and re-coined. The act is divided into seven sections. Background Before the Act, foreign coins, such as the Spanish dollar, were widely usedMurray N. Rothbard"The Mystery of Banking"(pdf), p.10, 1983-11-28. and allowed as legal tender by the Act of April 10, 1806.Library of Congress"An Act regulating the currency of foreign coins in the United States" passed on April 10, 1806, referenced 2009-08-24. The Coinage Act of 1857 also discontinued the Half cent (United States coin), half cent. Furthermore, the penny was reduced in size. The Large cent (United States coin), large cent was discontinued and regular coinage of the Fl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which, when offered ("tendered") in payment of a debt, extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. It is generally only mandatory to recognize the payment of legal tender in the discharge of a monetary debt from a debtor to a creditor. Sellers offering to enter into contractual relationship, such as a contract for the sale of goods, do not need to accept legal tender and may instead contractually require payment using electronic methods, foreign currencies or any other legally recognized object of value. Coins and banknotes are usually defined as legal tender in many countries, but personal cheque, checks, credit c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish dollar, Spanish silver dollar, divided it into 100 cent (currency), cents, and authorized the Mint (facility), minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallism, bimetallic standard of (0.7734375 troy ounces) fine silver or, from Coinage Act of 1834, 1834, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. In 1971 all links to gold were repealed. The U.S. dollar became an important intern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Countermark
A countermarked, punchmarked or counterstamped coin is a coin that has had some additional mark or symbol punched into it at some point after it was originally produced while in circulation. This practice is now obsolete. Countermarking can be done for a variety of reasons. If the currency is reformed, existing coins may be rendered void. In this situation, coins already in circulation could be marked with the new value (according to the new currency system). The life span of existing coins could thus be extended, which might under some circumstances be a cheaper alternative to recalling the coins, melting them and striking replacements. Similarly, foreign coins could be marked as legal or accepted currency, thus allowing them to circulate in the area where they were countermarked. Countermarking can also be done for political reasons, i.e. a new state or régime demonstrating its authority by countermarking coins issued by the previous state. Some experts recommend not to use th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milling (minting)
Reeding or milling is a technique wherein a number of narrow ridges called "reeds" are carved or milled into a surface with a Castaing machine. Numismatics In numismatics, reeded edges are often referred to as "ridged" or "grooved" (American usage), or "milled" (British usage). Some coins, such as United States quarters and dimes, 1 euro, Australian 5, 10, 20 cents, 1 and 2 dollars, as well many other current coins, have reeded edges. One reason for having reeded edges was to prevent counterfeiting. Some gold and silver coins were reeded to discourage clipping, i.e. scraping off the precious metals from the edge of the coin, to maintain its stated value in precious metal. This practice was made more difficult through the implementation of reeding by Isaac Newton in 1698, during his time as warden of the Royal Mint. Another benefit of certain coins having reeded edges is that it helps the visually impaired identify different coin denominations by sense of touch alone. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Currency
In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders. History First European Banknotes (17th century) The first European banknotes were issued in 1661 by Stockholms Banco. Founded by Johan Palmstruch, it was a predecessor of Sweden's central bank Sveriges Riksbank. As commercial activity and trade shifted northward in 17th century Europe, deposits at and notes issued by the Bank of Amsterdam denominated in Dutch guilders became the means of payment for much trade in the western world. Spanish dollar (17th – 19th centuries) In the 17th and 18th centuries, the use of silver Spanish dollars or eight-real coins, also known as "pieces of eight", extended from the Spanish territories in the Americas westwards to Asia and eastwards to Europe. This then formed the first worldwide currency. Spain's political supremacy on the world stage, the importance of Spanish commer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Empire
The Spanish Empire, sometimes referred to as the Hispanic Monarchy (political entity), Hispanic Monarchy or the Catholic Monarchy, was a colonial empire that existed between 1492 and 1976. In conjunction with the Portuguese Empire, it ushered in the European Age of Discovery. It achieved a global scale, controlling vast portions of the Americas, Africa, various islands in Asia and Oceania, as well as territory in other parts of Europe. It was one of the most powerful empires of the early modern period, becoming known as "the empire on which the sun never sets". At its greatest extent in the late 1700s and early 1800s, the Spanish Empire covered , making it one of the List of largest empires, largest empires in history. Beginning with the 1492 arrival of Christopher Columbus and continuing for over three centuries, the Spanish Empire would expand across the Caribbean Islands, half of South America, most of Central America and much of North America. In the beginning, Portugal was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Real
The ''real'' (English: /ɹeɪˈɑl/ Spanish: /reˈal/) (meaning: "royal", plural: ''reales'') was a unit of currency in Spanish Empire, Spain for several centuries after the mid-14th century. It underwent several changes in value relative to other units throughout its lifetime until it was replaced by the ''Spanish peseta, peseta'' in 1868. The most common denomination for the currency was the silver eight-''real'' Spanish dollar (''Real de a 8'') or peso which was used throughout Europe, America and Asia during the height of the Spanish Empire. History In Spain and Spanish America The first real was introduced by Peter of Castile, King Pedro I of Crown of Castile, Castile in the mid 14th century, with 66 minted from a ''Castilian mark'' of silver (230.0465 grams) in a fineness of (0.9306), and valued of 3 ''maravedíes''. It circulated beside various other silver coins until a 1497 ordinance eliminated all other coins and retained the real (now minted 67 to a mark of silve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin
A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the ''obverse'' and the ''reverse'', referring to the front and back sides, respectively. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse is known as ''tails''. The first metal coins – invented in the ancient Greek world and disseminated during the Hellenistic period – were precious metal–based, and were invented in order to simplify and regularize the task of measuring and weighing bullion (bulk metal) carried around for the purpose of transactions. They carried their value within the coins themselves, but the stampings also induced manip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver
Silver is a chemical element; it has Symbol (chemistry), symbol Ag () and atomic number 47. A soft, whitish-gray, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. Silver is found in the Earth's crust in the pure, free elemental form ("native metal, native silver"), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc Refining (metallurgy), refining. Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes bimetallism, alongside gold: while it is more abundant than gold, it is much less abundant as a native metal. Its purity is typically measured on a per-mille basis; a 94%-pure alloy is described as "0.940 fine". As one of the seven metals of antiquity, silver has had an enduring role in most human cultures. Other than in currency and as an in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
