The first global currency, Piecesof Eight originated in European Spain and made by Native American slaves inaround the 1600’s. According to the British museum, in 1600 one coin would havebeen worth the equivalent of a modern £50 note (British museum,2014). That’s equivalentto a fifty-dollar bill in US dollars. The design of this coin is verysignificant because on the face it carries an imprint of the rulers of Spain,who had the most power. The use of this coin traveled acrossmany other countries and was used out side of the empire (British museum,2014).The coin’s material was made up of gold and metal. What determined the value ofthat coin was not the material but the weight of that coin.
This coin lastedfrom 1600’s to until around 1900th c. This currency was important because,all empires require money in order to operate. Sometimes this coin was broken intopieces to be used as change.
For business owners, a single coin would be givento employees as pay for two weeks. Like our modern day coin currency, theridges on the sides were as well on the first coins.As for Americas British colonies,the Pieces of Eight became very useful because after some time British currencyhad become limited. After many years the Pieces of Eight has a long lasting useof coins.
Now that we are in the 20th century, coins are stillrelevant to our daily use. Although coins do not have as much value as the 1600thc. it is still valued and used today, as well as dollar bills.