Sell Gold Coins


Posted by Admin

Sell Gold Coins

Sell Gold Coins

The intent of the European nations’ voyages of exploration was to open up trade routes or even discover new trading partners. Such commerce, whether using the barter system or currency, means understanding the value of what is being traded. A stable currency simplifies the process for all and establishes an exchange rate for other currencies. In the Caribbean, it was Spanish currency that set the standard, first with silver and then with gold.

Spanish Silver Coins

An abundance of silver found in the New World resulted in an abundance of Spanish silver coins in the Caribbean colonies. Known as reales, Spanish silver coins were minted in several denominations. By far the most common of the silver coins in the Caribbean was the Piece of Eight, a coin worth eight reales. Set at a weight of 27.47 grams of .9305 silver, it was easily recognizable with the impression of an eight on one side. Although the term Pieces of Eight is popular in pirate lore, the more commonly used name was peso or, in English-speaking countries, the Spanish dollar.