18th Century Spanish Funny Money

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Historic Discovery: Spanish Funny Money

By Jessica Clark
First Coast News

ST. AUGUSTINE, FL -- At an archaeological dig in St. Augustine on Marine Street, a Victorian house has been lifted, an 1800s hearth has been found, and an insight into colonial Spanish finances has been unearthed.

Amidst all the artifacts found on the home site within the past month, there was a gunky item that archaeological assistant John Powell initially thought was an old dog tag.

Then he started cleaning it. He discovered it was a "two real", a type of Spanish coin. After further cleaning, he discovered something else.

"And I said, 'uh-oh'."

Powell found that the coin, minted in Spain during the early 1700s, was not solid silver.

And this discovery was huge, Powell said.

"Basically it's a two real silver coin that's been made to look silver. It was copper in the center. It's only about the same value as a penny," Powell said. But he added that it was made to look like the equivalent of a quarter in that day.

You can now see the copper in the coin, and the silver still hanging on to the edge.

This one-of-a-kind discovery means while the colonists were sending solid gold and silver coins to Spain, "the Spanish were sending - I hate to say this - junk back here," Powell said.

He says it genuine funny money.

But why would Spain want to pull a fast-one on the colonists?

Powell said Spain was having a rough financial time.

"They desperately needed good coinage and good metal from the New World. But they didn't have that much of it in Spain. No doubt, they simply decided - okay, [the colonists] are not going to know the difference - and [the Spanish] minted some funny money."

Powell adds the coin found at the site is not counterfeit.

"I've seen counterfeit coinage. This is not counterfeit. This is mint-issued, deliberate funny money, manufactured by Spain for their colonists." . . . . . .



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