The record-union., 1898-11-07
SPANISH COIN
Used in This Country Until Forty
Years Ago.

Used in This Country Until Forty
Years Ago.
What becomes of all the pins?" is
query which has long been asked With
out a satisfactory answer. A more
timely and more pertinent query Is
What has become of all the Spanish
American coins which until forty years
ago served as the principal American
currency?" Where is the levy to-day:
Where turks the picayune? What has
become Of the f-penny bit, or the 'hI
and a Bit" as it was termed by popular
custom?
The present generation, of course, is
not familiar with these old coins. But
our grandfathers and grandmothers-
perhaps our fathers and mothers-wil
recall them. On the Pacific Coast the
quarter is still two bits" and the halt
dollar -four bits" but in the East the
terms have lost their significance.
The disappearance Of these coins is
all the more remarkable in view of the
fact that Spain formerly controlled the
silver mines Of the world. Her coins
were to be found in all parts of the
habitable globe where currency exist
one more instance of the passing glory
Of Spain.
Full sets Of the Spanish-American
coins are now comparatively rare
Numismatists and collectors are on the
Qui vive for them. Lyman H. Low
who is thoroughly posted on such mat
tiers and who is a collector of long ex-
peaence, has permitted the Herald
to reproduce photographs of COM
plete set furnished by him. Just al
this time, when the United States has
pushed old Spain down another rung in
the ladder Of progress, they are partic-
ularly interesting
The coins represented in the set are
the eight real piece, or dollar; the four
real, or half dollar; the two real, OF
quarter dollar; the real and the halt
real. The latter two coins Of the
smaller denominations are the ones
which will be more readily remembered
by the old folks by reason Of their odd
sounding nicknames.
In various parts of the United States
they were known by various names. In
New England the half real was known
as the ''fourpence." In Louisiana and
the other Gulf States it was the pic
ayune." In Pennsylvania it was the
'fyepenny Bit" which in turn evolved
into the lib and a bit,'' and was some
times known simply as the ftp"
The one real piece was known in
New England as the ''ninepence," while
in various other parts Of the country
it was the ''elevenpence," which was
abbreviated as the '1evy." The rela-
-a1x -
money, the colonial currency and that
Of England seems to have been some
what confused. This is shown by the
fact that, while in New England the
half real and real We're known as four
pence and ninepence, respectively in
other parts Of the country there were
fivepence and elevenpence
1t is interesting to know that from the
fifteen century to period we'll on in
the nineteenth century Spains PROV
inces in the Western Hemisphere sup
piled the greater part of the silver for
the use of the entire world. According
to United States mine reports, the sill
yer coinage Of the Mexican minis alone
between 1887 and 1921 exceeded 81
0S2,O00OO0.
The Immense increase in currency de-
rived from these rich mines conceded
with the rapid development of trade
with the East by the Portuguese, the
Dutch and the English, and the Span
ish-American dollar (peso or piece of
eighty gained a firm footing in the mar
kets Of the East which no would be
rivals could shake-the attempts of the
English and Dutch early in the seven
~ I,n ;-I,
Americans and Japanese in the present
century, to introduce a rival coin hav-
ing all proved equally futile.
But, interesting as this is, as illus
trating the fact that no legislation Of
any Government has ever succeeded in
Keeping in circulation a coin which did
not command the confidence Of the
commercial community, our interest in
these coins is rather due to their hav-
ing formed for more than 200 years the
principle circulating medium of the
English colonies in the new world-a
position from which they have only
gradually been displaced during the
last fifty years
From conversation with Mr.. Low,
VINO has given q great deal of study
TO the subject Of Spanish-American
CONS, l learned that the first mint in
america was established in the City of
Mexico May IL, 1886, and continued in
active operation under Spanish rule un-
III 1oZ1. 1t is the principal mint of the
republic OF Mexico to-day The history
OF the coinage of Mexico, of Central
and or South America during the near
ly three hundred years of Spanish rule
olpides itself into three periods. From
1881 to 1871 the coins were rude. gem
erally OF Irregular form, and the types
varied; that Of Mexico and of Central
america being known as the DE Cruz"
or .Maerequino" type, and that of Lima
and Potosi as the "Perulero'' type. The
issue OF silver in Mexico during this
period amounted to more than 1852
100000
FROM 1872 to III the type COM
mon to all the provinces was the Co.