518) History/Evolution of the Dollar depicted on a Kilo silver coin, minted by Fabrica Nacional de Moneda y Timbre (FNMT) in association with the Real Casa de la Moneda issued on 29.05.2017:

518) History/Evolution of the Dollar depicted on a Kilo silver coin, minted by Fabrica Nacional de Moneda y Timbre (FNMT) in association with the Real Casa de la Moneda issued on 29.05.2017:

About the One Kilo Silver coin depicting the history of the dollar:

The “Fabrica Nacional de Moneda y Timbre (FNMT)”, in association with the “Real Casa de la Moneda” has issued a one-Kilo Silver Proof quality coin that comprehensively and intricately details the chronological history of the evolution of the silver dollar – one of the most well-known coins in modern history.

The One Kilo 300 Euro Silver Coin:

The Obverse of the one Kilo 300 Euros Silver Coin shows a profile of King Felipe VI, in the centre, surrounded by the first Spanish “Columnario”, the most famous design of the “8 Reales” coin, the “Joachimsthaler”, (the first Thaler struck in Europe) and the “flowing hair Liberty” dollar, the first coin struck in the USA.

 The Reverse of the one Kilo 300 Euros Silver Coin shows the “Pillars of Hercules” motif in the centre, with four different Thalers depicted (clockwise) – a Dutch “Daalder”, a Norwegian “Daler” and an Austrian and a German “Thaler” each.

The Specifications of this coin are:

Denomination of coin: 300 Euros; Metallic Composition: .999 Silver; Weight: 1,007 grams or 1.007 Kilogram; Diameter: 100 mm; Coin Quality: Proof; Mintage Limit: 1,000 pieces; Year and Date of issue: 29.05.2017.

Remarks: The coin has been presented in a deluxe wooden case which also includes a Certificate of Authenticity and a booklet describing in detail in both Spanish and English, the coins featured on the Obverse and Reverse of this coin. 

Each coin is also numbered from 0001 to 1000 on the lower edge, corresponding to the Certificate of Authenticity.

The legendary coins that shaped the American Dollar Coins:

The Real Casa de la Moneda has dedicated its first minting of a one Kilogram Silver coin to the history of the American dollar, whose origins date back to the Central European Thaler and the times of the Spanish Vice-royalties in the Americas, with the Spanish “Real de a Ocho” (also called “Peso” or “Duro”) which was the most sought after coin in the entire world between the Sixteenth and mid-nineteenth Centuries.

The Spanish “Real de a Ocho” was the Hispanic continuation of a pattern of coins which first circulated in Central Europe towards the end of the Fifteenth century, bringing with it the “Bohemian Thaler”. This name found its way into other languages such as English,  and the name “Thaler” was corrupted in other languages to “Talar” (Saxony), “Taller” (Italy), “Tolar” (Slovenia), “Talari” (Ethiopia), “Tala” (Samoa), “Dala” (Hawaii), “Daalder” (Netherlands), “Daler” (Denmark and Sweden) and “Dollar” (USA). These are all labelled as “Dollar”, as a general reference to all pieces of this type.

The “Real de a Ocho” (also known as the “Spanish Milled Dollar”) travelled all over the world and for centuries was used in trading between Spain and the lands collectively known as “las Indies”.

A proper Spanish Monetary system came into existence only in the Eighteenth Century, when Philip V introduced improvements to the minting and quality of the pieces, ordering that they be struck in milling presses.

This new Peso was known as the “Columnario de Mundos y Mares” (“Columnar of the Worlds and Seas”) on account of the common Reverses, which carried the images of two hemispheres beneath a crown, set against sea waves and flanked by the Pillars of Hercules, likewise beneath a crown and garlanded with ribbons bearing the motto “PLUS ULTRA”.

The coin’s impressive design includes images of many coins which led to the United States of America (USA) adopting the dollar coin as its currency. This coin offers a great insight into the development of many crown-sized silver coins which circulated in the new world, all with similar specifications and even similar designs of their own.

The coins design, inter alia,  illustrates the “Pillars of Hercules”, originally seen on the 8-Reales silver coin and was the origin of the familiar US “$’ sign, fashioned out of the capital letter “S” with two vertical lines over the letter.

Also depicted on this beautiful coin are Thalers from Austria, Norway, Brunswick and Bohemia, Daalders from the Netherlands, Pesos from Spain and lastly the first American dollar coin minted in 1794 the “flowing hair Liberty design”.

The Legendary coins depicted on this coin are as under:

The Joachimsthaler – Bohemia – 1525 (depicted on the 300 Euro Kilo coin’s Obverse on the centre right periphery):

The history of the silver dollar has its origins not in the New World, but in an obscure valley in Bohemia (now part of Chechia).

Jachymov was known in German as “Joachimschal” and it was near this town in 1519, that a large strike of silver ore was made. The Counts of Schlick coined the metal into large coins known as “Gulden-groschen”, which came to be nicknamed “Joachimsthalers”.

As such the “Joachimsthaler” was minted for the first time during the reign of King Louis I of Bohemia and II of Hungary in 1519.

Shortened to “Thaler”, the name was adopted for a wide range of large German silver coins, ranging from 60 to 72 “Kreuzer” in value, some of them beautifully inscribed, a few pieces of which survived until 1872.

Interestingly, the term “Dollar” was first used in Scotland for the 30 Shilling piece of James VI (1567-1571), while coins denominated in dollars and fractions of a half, quarter, eighth and sixteenth were struck in Edinburgh during the reign of Charles II (1672-82), long before the dollar became the standard unit of currency in the American colonies.

Meanwhile, the Russians adopted the first part of the original name “Joachim” for their large silver coins “Jefimki” (singular “Jefimok”). 

On the Obverse, of the Joachimsthaler, is depicted the image of St. Joachim, father of the Virgin Mary, and before him, the Kingdom’s quartered Coat of Arms. Around the image of St. Joachim is the legend “S” (Sanctus) at left and “I” (Joachim), below which is the year of issue “1525”.

On the outer periphery is the inscription (clockwise from the top) “AR” (meaning “Arma” or “Argentum”) “DOM” (“Dominorum”) “SLI” (“Slicorum”) “STE” (“Stephani”) “7 FRA” (“Fratrum”) “CO” (“Comitum”) “D” (“de”) “BA” (“Bassano”) which is roughly translated as “Gentlemen at Arms, Stephan Schlick and his Seven Brothers, Count of Bassano”.

On the lower periphery is also seen the Kingdom’s heraldic shield with four quarters in which two quarters showing a Lion rampant (standing on its left back leg).

 An image of a Joachimsthaler, flanking its depiction on the 300 Euro one Kilo Silver coin

On the  Reverse, of the Joachimsthaler , is depicted the Kingdom’s heraldic lion rampant, crowned and standing on its left back leg, its front legs poised for attack, with its tail erect, lyre – shaped at the end, curling towards its back.

On the outer periphery is the inscription (clockwise from the top) “LUDOVICUS PRIM” (“Primus”) “D.” (“Dei”) “CIA REX BOE” (meaning “Louis the First, King, by the Grace of God, Bohemia”).

The Daalder – Low Countries, 1576 (depicted on the 300 Euro Kilo coin’s Reverse on the upper periphery):

In 1575, the Dordrecht Mint in the Province of Holland was the first to strike the famed “Leewendaalder” (or the “Lion Daalder”) as a means of increasing trade between the numerous Dutch trading ports and out-posts from Asia to the Americas, Africa to Australia and several places in between.

These popular coins were in turn based on the even more popular coin – the “Joachimsthaler” of Bohemia which was first minted in 1519.

It made sense for the new Dutch Provincial Coin (whose name “Daalder” was a derivative of the word “Thaler”) to resemble the well-known “Joachimsthaler” coins so that Dutch traders could benefit from the popularity and trust enjoyed by the “Joachimsthaler” coins – both locally and internationally.

The early Daalders were cut out of silver planchets so that they were not perfectly round and were relatively thin, so their strike was not very detailed and the images on both sides were less visible than desired. In time, these coins improved in both quality and in reputation.

With a weight of 26.79 grams of .750 Fine Silver, the “Lion Daalder” was also popular in the Dutch East Indies, as well as, in the Dutch New Netherlands Colony (present day New York).

After the British became the dominant power in the New World around 1816, the “Lion Daalder” remained in circulation with an exchange value of 4 Shillings and 6 Pence.

During the mid-17^th Century, the “Leewendaalder” became recognised world-wide and it made many local coins go out of circulation in their own markets.

Aside from the Balkan countries, the “Lion Daalder” was the standard coinage in the commerce in regions and States such as Anatolia, Syria, Egypt and North-west Africa for over a century.

Interestingly, it was only in 1713, when the “Leewendaalder” was no longer minted, that it was finally surpassed by the Maria Theresa Thaler from 1751 onwards. Nevertheless, despite its lack of production, the “Leewendaalder” remained legal tender for some time in the Levant.

Besides the popularity of the Spanish “Pieces of Eight” (or “8-Reales” Silver Coin) which was also widely circulated in the United States of America from the 1700s, there is no doubt that the “Lion Daalder” greatly influenced the American silver coinage – especially the name of the new country’s currency – the “dollar”, which was first minted in 1794.

On the Obverse of the Leewendaalder is depicted the figure of an armoured knight standing and before him is a shield bearing a heraldic, rampant lion, the emblem of Flanders. The year “15-76” appears on the lower periphery in part on either side of the shield.

On the outer periphery is the legend “MO.NO.ARG.ORD.HOL.” which is transcribed as “Moneta Nova Argentea Ordinum Hollandiae”, (a Latin phrase meaning “New Silver Coin of the States of Holland”). 

 An image of a Leewendaalder, flanking its depiction on the 300 Euro one Kilo Silver coin

On the Reverse of the Leewendaalder is depicted the same heraldic lion rampant, occupying the entire field and the motto on the outer periphery reads “CONFIDENS.DNO.NON.MOVETVR”, transcribed as “Confidens Domino non movetur” (a Latin phrase meaning “Confidence in the Lord is not moved”).

(For more interesting information on the Leewendaalder please visit my post at the following link:   A modern strike of the Leewendaalder coin on the 400th anniversary of its first strike at the Utrecht Mint

The Daler – Denmark and Norway, 1637(depicted on the 300 Euro Kilo coin’s Reverse on the centre right periphery):

This coin was got minted by King Christian IV of Denmark and Norway.

On the Obverse of the Daler, the crowned profile of the Monarch is depicted in the centre facing right. Surrounding the bust of the King is the inscription “REGNA FIR MAT PIETAS” (Meaning “Piety strengthens the Realm”).

On the outer periphery is the legend “CHRISTIANUS III DG DANI NORG REX” transcribed as “Christian IV, Dei Gratia, Dani and Norges Rex” (meaning “Christian IV, By the Grace of God, King of Denmark and Norway”). 

An image of a Daler, flanking its depiction on the 300 Euro one Kilo Silver coin

On the Reverse of the Daler, is seen a heraldic lion rampant, also crowned. On the outer periphery starting from lower bottom, clockwise, is inscribed: “BENEDICTIO DOMI NI DIVITES FACIT” (meaning “The Blessing of the Lord makes Riches”).

The Reichthaler – Brunswick – Luneburg (Germany), 1666 (depicted on the 300 Euro Kilo coin’s Reverse on the centre left periphery):

This coin was minted by the order of Duke Augustus the Younger.

The Obverse of the Reichthaler carries the figure of the “wild man of the woods”, a mythical medieval character considered to be the mediator between men and the fantastical beings of the forest. This is a common motif carried in the works of Art and heraldic shields of the Alpine area and Germany.

On the outer periphery is the legend “ALLES MIT BEDATCH” (meaning “All things considered wisely”) and the year of issue is “1666”. 

 An image of a Reichthaler, flanking its depiction on the 300 Euro one Kilo Silver coin

The Reverse of the Reichthaler bears the Coat of Arms of the Duchy beneath five helmets decorated with Lambrequins (a scarf or woven fabric used to cover a knight’s helmet) or ribbons.

On the outer periphery starting from lower left, clockwise is the inscription “AUGUSTUS HERTZOG ZU BRAUN U LUNE” (meaning “Augustus, Duke of Brunswick and Luneburg”).

Columnar Real de a Ocho – 1732 (depicted on the 300 Euro Kilo coin’s Obverse on the centre left periphery):

This coin was struck in Mexico during the reign of Philip V, who during his first reign, improved coin production by introducing technological advances.

Apart from the Macuquina coins, he also started the minting of well-manufactured transitional coins, but without a protective cord and which were not round, known as “trimmed coins”.

During his second reign, Philip V got rounded coins made with a cord that protected them from cuts and filings. This change was possible due to the introduction of the arming press. These coins were minted from 1732 – 1772.

He had silver coins minted which were called “Columnarios” (meaning “Coins of the Worlds and Seas”). These coins were so named, because there were two hemispheres set on sea waves joined by a large crown between two crowned pillars around the inscription”UTRAQUE UNUM” (meaning “Both are One” – in reference to the two Worlds – the Old and the New).

The Obverse of the Columnar Real de a Ocho carries a crowned shield with the Hispanic Lesser Royal Coat of Arms – two castles and two lions and a pomegranate “ente en point” with the escutcheon of the House of Bourbon (three fleur-de-lis”) in the centre.

On one side of the shield is the letter “F” (the assayer’s mark) and on the other side of the shield is “8” representing the value.

On the outer periphery starting from left bottom (clockwise) is the inscription “PHILIP.V.D.G.HISPAN.ET.IND.REX” (transcribed as “Philip V, Dei Gratia, Hispaniarum et Indiarum Rex”), meaning “Philip V, By the Grace of God, King of Spain and the Indies”.

 Obverse & Reverse of an 8 Reale Silver Coin (Columnarios) issued in 1732, during the reign of Philip V at the Mint of Mexico flanking its depiction on the 300 Euro one Kilo Silver coin

Notice the “O upon M” Mint mark of the Mexican mint on the left and right lower periphery on the Reverse face.

The Reverse of the Columnar Real de a Ocho depicts two superimposed spheres symbolising America and Europe, crowned and set against sea-waves, flanked by the Pillars of Hercules, crowned and draped in ribbons bearing the motto “PLUS ULTRA” (meaning “further beyond”), the Latin symbol adopted after the Discovery of the New World, in contrast to “non terrae plus ultra” (meaning “there is no land beyond”).

According to Greek mythology, Hercules inscribed this motto on the pillars he created when he split the mountain in the straits of Gibraltar into two. This also refers to “Finisterre” (meaning “land’s end”), representing what was thought to be the edge of the known world.

The central motif is surrounded by the legend on the outer periphery starting from the centre left “VTRAQUE UNUM” (meaning “Both are One” – in reference to the two Worlds – the Old and the New). The mint mark of the Mexican Mint (small letter “O” upon the capital letter “M”) appears twice – once each on the lower left and on the lower right. The year of minting is mentioned on the lower bottom “1732”.

The coins of this period are the best in terms of design. Besides their fine ore (fine metal content), the Mexican coins stood out for their magnificent craftsmanship and beauty and made them the main international payment medium at that time.

Interestingly, the Mexican Mint Mark of the small letter “O” upon the capital letter “M” has been in use since 1535 when the supply of coins minted in the Spanish Mints could not keep up with the growing demand of silver and gold pieces in the expanding Spanish colonies of the Viceroyalties of New Spain in the New World, as such it was decided through a Royal Proclamation to open a Mint in Mexico, where several silver mines had been discovered and were in operation. The Mexican Mint received the following mandate from King Charles I and Queen Juliana: “Y PONGASE EN LA PARTE DONDE HOBIERE LA DEVISA DE LAS COLUNAS UNA M LATINA, PARA QUE SE CONOZCA QUE SE HIZA EN MEXICO” (meaning “Let a Latin “M” be placed where the columns are divided to reveal that it was made in Mexico”). This was represented by the symbol “OM”, the letters placed vertically with “O” on top & “M” below.

The Mexican Mint is presently managed by Oescheger Masdach & Co., therefore the tradition of using the mint mark “OM has continued present day. In 1997, the Mexican Mint had minted one-rupee coins for India using the “OM” mint mark which has remained the same since 1535.

The Thaler of Austria-Hungary-Bohemia – 1780 (depicted on the 300 Euro Kilo coin’s Reverse on the lower periphery):

This Thaler was struck during the reign of Maria Theresa, Archduchess of Austria and Queen of Hungary and Bohemia.

Interestingly, it was only in 1713, when the “Leewendaalder” was no longer minted, that it was finally surpassed in popularity and usage by the Maria Theresa Thaler from 1751 onwards.

The Maria Theresa Thaler also circulated in Oman and the Arab Peninsula, where it was known as the “French Rial or Riyal”, because of the Portuguese presence in these countries.

Although the Maria Theresa Thaler was first minted in 1741 as a silver bullion coin, after Maria Theresa’s death in 1780, the coin was in such great demand that the Austrian Mint continued to mint it with the same date (1780) engraved on the coins long after her death.

During the reign of Sayyid Said bin Ahmad Sultan (15.12.1783 – Abdicated 1784), the Maria Theresa Thaler was a big coin and it did not have smaller coins of its kind to ease local transactions, as such Indian coins both silver and copper were in circulation in Muscat and Zanzibar to ease the problem.

The Maria Theresa Thaler was used as a trade coin till 31.10.1858, when it lost its status as currency in Austria.

On the Obverse of the Thaler of Austria-Hungary-Bohemia (also called the “Maria Theresa Thaler”) is depicted the profile of the Sovereign facing right who ruled from 1740 to 1780.

On the periphery, starting from the right (clockwise) is the inscription “M.THERESIA.D.G.R.IMP.HU.BO.REG” (transcribed as “M. THERESIA. DEI. GRATIA. ROMANORUM IMPERATRIX. HUNGARY. BOHEMIA. REGINA”) meaning “Maria Theresa, By the Grace of God Empress of the Romans, Queen of Hungary and Bohemia”).

 Image of the Obverse and Reverse of a Maria Theresa Thaler issued in 1780 flanking its depiction on the 300 Euro one Kilo Silver coin

On the Reverse of the Thaler of Austria-Hungary-Bohemia is depicted the Austrian Coat of Arms, watched over by the two-headed Imperial Eagle.

 On the periphery, starting from the right (clockwise) is the inscription “ARCHID.AUST.DUX.BURG.CO.TYR.1780.X” (meaning “Archduchess of Austria, Duchess of Burgundy, Countess of Tyrol, 1780”). The “X” is a “Saltire” (St. Andrew’s cross, which is a heraldic symbol in the form of a diagonal cross) which was added in 1750 to the Thaler.

The edge inscription reads “”JUSTITIA ET CLEMENTIA” (meaning “Justice and Clemency”), which was the motto of her reign.

The United States Dollar – 1794:

The first US Dollar was struck during the Presidency of George Washington and was the first National currency of the United States of America to be minted on its own territory.

This dollar was similar in size and weight to the Spanish Real de a Ocho and was nicknamed the “Spanish Dollar” or the “Milled Dollar”.

On the Obverse of the US Dollar coin is depicted a profile of the bust of Liberty facing right. On the upper periphery is the inscription “LIBERTY”, while the year of issue “1794” is on the lower periphery.

On the left and right peripheries are depicted 8 and 7 stars respectively, numbering 15, representing the fifteen States of the Union at that time.

 An image of a US Dollar, flanking its depiction on the 300 Euro one Kilo Silver coin

On the Reverse of the US Dollar coin is depicted a bald or white eagle, its wings outspread, perched on a rock and surrounded by a garland of olive branches. This image was adopted as the country’s emblem by the US Congress in 1782. Along the outer periphery is the issuing country’s name “UNITED STATES OF AMERICA”.

The edge inscription reads “HUNDRED CENTS ONE DOLLAR OR UNIT”.

Links:

 1) Miguel de Cervantes Saavedra: the creator of Don Quixote: Commemorating the 400th Anniversary of his death by issue of two coins in the denomination of 200 Euros (Gold) and 10 Euros (Silver) by the Royal Spanish Mint - Real Casa de la Moneda in 2016

 2) Comprehensive history of the Dollar illustrated on a Kilo coin minted by Fabrica Nacional de Moneda y Timbre (FNMT) in association with the Real Casa de la Moneda on 29.05.2017