Spanish Funny Money???

[JvilleHunter]

Don't know if this has been posted before or talked about on this forum but I ran across the story and thought you guys might find it intersting reading. Sorry if it's repetative posting....



Ancient Spanish Funny Money


Originally Created:1/26/2007 8:16:23 PM
Last Update:1/29/2007 4:13:35 PM
Web Editor: Jake Wade


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."

"I've been dealing with conservation for 35 years. I have never seen a Spanish coin that's been made as funny money."

Powell says he knows of no other Spanish funny money from that time that has been found anywhere.

Powell said that the French made fake money, but this find is St. Augustine is a lesson that the Spanish may have as well.

[Bigcypresshunter]

Very Interesting article JvilleHunter. Im going to have to take a closer look at all the silver plated "fake" cobs and reales that I have come across over the years.

[ivan salis]

with all the money trouble that spain had all the time I would not be shocked to find they devalued the money sent to the colonies---heck the usa has done just that with our own money --- american quarters dimes and halves were 90% silver pre 1964 then only the halves were 40% silver -- from 65 to 70 --then almost solid copper after that--- the pennies are not even pure copper anymore since 1982--their mostly worthless zinc thats why they get ate up in the ground so quickly these days---so finding out the spanish did it to their colonies isn't surprizing to me. since we are no longer on the gold or silver standard our money has lost most of its buying power so we just print more and more worthless paper.--- Ivan

[BeachHugger]

Here's another story on contemparary counterfeits.
I can vouch for this story.

http://outerbanksnc.net/treason.html