Thursday, September 28, 2023

Real de a Ocho: The Mexican currency that dominated world trade for more than 300 years

In the world the most valuable currencies were Mexico many years ago The Real de a Ocho corresponded to the value that the dollar has today worldwide.

Officially it was christened Real de a Ocho, although in the Hispanic viceroyalties it was also called Peso de Eight or Peso Fuerte by native Mexicans. It was known as the piastra and in the Anglo-Saxon world as the “Spanish dollar”.

Minted in Mexico, Potosí, Lima or Santa Fe de Bogotá, it was legal tender in the United States until 1857.

All Asian countries and mainly China and India accepted it as their own currency to the real of eight and demanded payment for their products in this currency when trading with European countries.

The Portuguese, British, Dutch, French and Danes each carried eight specimens in their royal wine cellars to trade with the East, and this practice continued well into the 19th century.

The Real of Eight lasted for more than three centuries and its design was adapted over the years.

Features of this ancient coin from Mexico

The eight reales are minted exclusively in American mints I call it the currency of the “world and seas.” for the reservoir had the Pillars of Hercules printed on it and between them the two hemispheres of the planet on sea waves, which represent the size of the empire and the Latin inscription about it: “UTRAQUE UNUM”, which means “both in one” and refers to two worlds but one kingdom.

In the 16th and 17th centuries the Real de a Ocho, Minted in the American mints, it became the free currency that facilitated trade between the two shores of the Atlantic and was therefore wanted and coveted by all European powers.

Nation World News Desk
Nation World News Desk
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