The Spanish piece of eight dominated global currency until the nineteenth century.
Evidence
For the peso de ocho reales, the Spanish piece of eight, was the first truly global money. … It was produced in huge numbers, and within twenty-five years of its first minting in the 1570s it had spread across Asia, Europe, Africa and the Americas, establishing a global dominance that it was to maintain until well into the nineteenth century. — Neil MacGregor, A History of the World in 100 Objects, 1224
Categorization
- corroborated: 2 independent passages support this claim — Neil MacGregor, A History of the World in 100 Objects, 1224
- XREF: connects to: Silver deposits at Potosi and Zacatecas launched transatlantic Spanish mining trade — John Sugden, Sir Francis Drake, 84; A country’s deepening debt can paradoxically strengthen its currency’s global dominance — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 198