The legacy of the historic Spanish Dollar , also known as the 8 Reales , is brought back to life through a groundbreaking collaboration between the Royal Canadian Mint and the Royal Spanish Mint. This release brings together two silver coins that pay tribute to one of the most influential pieces of currency in history, considered by many to be the first truly global circulating currency.
Image courtesy of the Royal Canadian Mint
The legacy of the Spanish Dollar
For several centuries, from the late 15th century to the mid-19th century, the Spanish Dollar or 8 Reales circulated throughout Europe, America and Asia, becoming a widely accepted currency for international trade.
Thanks to its uniform weight and purity, merchants, explorers, and settlers relied on this coin for large-scale transactions. Its presence also left its mark on what is now Canada, where it contributed to the development of the monetary system during the colonial era.
Its design featuring the iconic Pillars of Hercules ended up becoming one of the most recognizable symbols in world numismatics.
A historic collaboration between two mints
This launch marks the first official collaboration between the Royal Canadian Mint and the Royal Spanish Mint (FNMT-RCM).
The set consists of two one-ounce silver coins:
- A Canadian silver .9999 coin.
- A Spanish silver coin of .999 fineness.
Both were designed to represent different stages in the evolution of the historic Spanish Dollar, uniting the numismatic heritage of both nations in a single presentation.
Obverse of the coins
Both coins feature contemporary portraits of the respective monarchs.
Canadian currency
The obverse shows the effigy of His Majesty King Charles III , made by the Canadian artist Steven Rosati.
Image courtesy of the Royal Canadian Mint
Spanish coin
The obverse features the effigy of King Felipe VI , engraved by Luis José Díaz Salas , engraver of the Royal Mint of Spain.
Image courtesy of the Royal Canadian Mint
Reverse of the coins
Each coin represents a different moment in the history of the famous 8 Reales.
Canadian currency
The reverse reproduces a Spanish 8 Reales coin minted in Mexico in 1779. It features:
- The crowned shield of the Spanish royal arms.
- The Pillars of Hercules.
- The motto PLUS ULTRA.
- The inscription HISPAN ET IND REX.
- The Mexico City mint mark (Mo).
- the name 8 R.
- The assayer's initials FF.
Image courtesy of the Royal Canadian Mint
Spanish coin
The reverse reproduces a Real de a Ocho coin minted in Mexico in 1737 , belonging to the well-known columnario type.
Its design shows:
- The two globes between the Pillars of Hercules.
- The motto PLUS ULTRA.
- The inscription VTRAQUE VNUM, symbol of the union between the Old and New Worlds under the Spanish Crown.
Image courtesy of the Royal Canadian Mint
Technical Specifications
Canadian currency
- Face value: $20
- Composition: .9999 pure silver
- Weight: 31.39 g
- Diameter: mm 38
- Finish: Proof
- Song: striated
Spanish coin
- Face value: 10 euros
- Composition: .999 pure silver
- Weight: 31.415 g
- Diameter: mm 37
- Finish: Proof
- Edge: milled
Presentation and availability
The two coins are presented individually encapsulated inside a black clamshell case accompanied by a black presentation box with the logos of both mints.
The set also includes a serialized certificate of authenticity issued jointly by both institutions.
The issue is limited to 6,500 sets for collectors worldwide, and both coins can only be purchased as part of this set.
A curious fact about the dollar symbol
One of the most interesting aspects related to the Spanish Dollar is the possible origin of the “$” symbol.
Although its origin remains a subject of debate among historians, one of the most widely accepted theories is that it evolved from the image of the Pillars of Hercules surrounded by a ribbon, a motif represented on Spanish coins for centuries.
Likewise, the 8 Reales were often cut into fractions to facilitate everyday trade. Each of these pieces was known as a “bit ,” the origin of historical expressions such as “pieces of eight” and “two bits ,” the latter used to refer to a quarter of a dollar.
The history of the Spanish Dollar remains one of the most significant in world numismatics. This commemorative set not only recalls its role as one of the first internationally circulating currencies, but also symbolizes the collaboration between Canada and Spain to preserve a legacy that transformed global trade and left a lasting mark on monetary history.
Find out all the details and availability on the official website:
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