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A brief history of Spanish silver: from the piece of eight to the euro

A brief history of Spanish silver: from the piece of eight to the euro

Five centuries of silver coins minted in Spain: from the global "piece of eight" to modern commemoratives.

2026-05-24historiaplataEspaña

The piece of eight: the first global coin

Minted in Seville from 1497, the "real de a ocho" was the world's most widely used coin until the 19th century. It circulated from China to North America — the US dollar literally descends from it.

19th–20th centuries: the silver duro

The 5 pesetas replaced the piece of eight after the 1868 reform. Under Alfonso XII and Alfonso XIII, millions of "duros" were minted and remain the most collected pieces in the Spanish silver market today.

Modern issues

After silver coinage left circulation, Spain kept minting collector pieces: Expo Sevilla 1992, Barcelona 1992 medals and the modern Real Casa de la Moneda series.

Where to start

  1. Alfonso XIII duros in EF+ are the accessible entry point (60–150 €).
  2. Mexican centenarios for those who like large pieces.
  3. Expo 1992 medals bridge historical and modern.