The Spanish Real was used as currency in the US until the mid 19th century
and are often found at historic sites in the US. The Real was referred to as
"pieces of eight," because the coin was often divided into eight pieces to
make change; this is where the term "two bits" is derived (or a quarter).
The word dollar also replaced Real, "dollar" coming from the German
"thaler," I think? Currency was based on the price of silver, and the
colonists generally used the Spanish milled dollar over other forms of
silver currency. The Spanish Real was favored because it had a milled edge
which would deter the shaving of silver from the edge of the coin. However
many foreign silver coins were accepted as currency; the German Mark, French
Franc, and English Crown, were all generally considered equal. In 1857, the
US Treasury began redeeming these Spanish Reals at a slight discount from
their face value (because they were cut and worn). Small cents (pennies)
also replaced large copper cents and half cents that year. This exchange
program continued a couple of years and the US dollar became dominate,
however, Spanish reals probably continued to be used in rural areas into the
late 19th century.
As far as the hole is concerned, this is sometimes attributed to
African-American occupation (WPA interviews 1930s and there are other
references), but more than likely it is a lost piece of homemade jewelry or
a lucky charm. The coins may not have been acceptable tender during the late
19th century but they were still pieces of silver.
Grant L. Day, RPA
Principal Investigator
Cultural Resource Analysts, Inc.
143 Walton Ave.
Lexington, KY 40508
voice: (859) 252-4737
fax:(859) 254-3747
Email: [log in to unmask]
WWW: www.crai-ky.com
-----Original Message-----
From: HISTORICAL ARCHAEOLOGY [mailto:[log in to unmask]]On Behalf Of
Michael LaRonge
Sent: Thursday, May 09, 2002 9:37 AM
To: [log in to unmask]
Subject: Spanish coin at a German site
Fellow Histarchers,
I have been working at the site of a post office that operated from about
1861 to 1879, and serviced a small German Catholic community. Earlier this
week we found a coin at the site that caused a bit of a stir. The coin is a
Spanish half real of Carolus III from 1781. It has been pierced and was
probably worn as a pendant or charm.
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