Pieces of Eight
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Owner:
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_BriGuy_
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Released:
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Saturday, November 21, 2015
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Origin:
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Colorado, United States
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Recently Spotted:
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Unknown Location
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Three Stumps Hotel. GC8W3ZN
Pieces of eight are historical Spanish dollar coins minted in the Americas from the late 15th century through the 19th century. Made of silver, they were in nearly worldwide circulation by the late 19th century and were legal currency in the United States until 1857. The Spanish dollar coin was worth eight reales and could be physically cut into eight pieces, or "bits," to make change — hence the colloquial name "pieces of eight." The dollar coin could also be cut into quarters, and "two bits" became American slang for a quarter dollar, or 25 cents. The American dollar used today was based on the Spanish dollar.
Pieces of eight have long been associated with pirates, because they were a common target for the outlaws, as large amounts were regularly shipped from the American colonies to Spain. In addition, Spanish traders carried pieces of eight to Manila in the Philippines, once or twice a year to trade for Chinese goods. Many pirates became rich intercepting ships carrying pieces of eight. The buried pirate treasure of legend is often said to include the coin.
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