Spanish Coins on American Notes
Coins and Notes
If George Washington did throw a silver dollar across the Potomac, it surely was a Spanish dollar.
The Spanish dollar, perhaps better known as the eight reales or piece of eight, circulated widely in the United States long before there were US dollars. It was the model for the US dollar. Spanish coins served as legal tender in the United States, and were only demonetized in 1857.
Vignettes of coins of the Spanish American colonies, and less commonly those of homeland Spain, were used on many US obsolete notes. As such they may have served as indications of value to a public justifiably reluctant to accept paper money. Spanish coins were familiar to United States residents, and they were esteemed widely for uniform and high quality and stable value.
Spanish coin vignettes were used on our colonial currency as well as obsolete notes.
This exhibit examines a selection of post-colonial US obsolete notes that have depictions of Spanish coins.
The influence of the Spanish monetary system on the US system is well-known, perhaps better for coinage than for paper money. This exhibit shows how the symbol of the Spanish coin was used on US obsolete paper money to help validate its worth.
Why study such items? My interest in the topic--Spanish coin depictions on US obsolete notes--began as an offshoot from my interest in Spanish colonial and other Latin American coins. The chapter in America's Foreign Coins introduced me to the general topic, and I soon grew to love the beauty of 19th century US notes.
One of the greatest joys of a thematic collection of obsolete paper money is that in spite of all the work by many dedicated collectors and scholars to catalog the material, there is much yet uncataloged. The number of obsolete issues is vast, and you simply never know what you might find in a dealer's stock. Part of the appeal is simply the pleasure of the hunt.
It is my intention to improve this document as I learn. The Web is the perfect place for it: additions are easy, and no one expects a Web document to be static.
I welcome your suggestions and comments. I would be pleased if you would share your information with me.