For almost 300 years, Spain extracted large amounts of gold and silver from its New World possessions.
An estimated 447 million pesos were sent to Spain from 1503 to 1660. The Spanish treasury received 20% or 177 million pesos.
The balance was paid to the merchants and investors. One peso was equal to one silver eight reale piece. The 'piece of eight", a Spanish silver dollar, remained legal tender for commerce in the United States until 1857.
In 1535, Spain established a mint in Mexico City to manufacture coins in the New World. All silver coin are denominated as silver reales.
Gold coins are called escudos. One gold 8 escudo coin weighs 27 grams – the same weight as the silver 'piece of eight'. Each eight gold escudo coin is worth two silver peso coins.
The replica gold coins in this Historical Collection are same type of gold pieces captured by Jennings. These include gold replicas of eight gold cobs (cut from bars of gold.) The collection includes coins from 1713, and 1714 recovered in the wreck of the Spanish Gold Fleet of 1715.
These coins are replicas of original Spanish gold pieces. Each coin is marked COPY on the reverse as required by the Hobby Protection Act of 1973.
Each coin is gold plated and made of lead free pewter.
Made in the USA. Comes attached to a Deluxe 8" x 10" Informational Card.
Click on image for larger version.