Piastre

History and Origins

The piastre is an old Spanish coin designation of high value, equivalent to the peso or eight-real coin. The name "piastre" originated from the Italian word "piastra," meaning metal plate, which was derived from the Latin "emplastrum." This term referred to a type of medicinal plaster.

Spread and Adoption

Through trade relations, the piastre and its name spread to the Arab and North African Mediterranean regions. In these areas, the designation changed to other silver large coins. The piastre also reached Italian states, where it was known as "Piastra" (from Italian piastra = metal plate). This occurred at the end of the 16th century.

European Variations

In Europe, the piastre was accepted as the name for the Spanish and Spanish-American silver coin "peso," equivalent to eight reales. Hence, other common names include peso de ocho and its English name piece of eight – eight. The coin could be divided into eight or four parts, leading to American names such as "quarter" (quarter) and "two bits" (two pieces).

Names and Variations

Another common English name for the coin is piastre with columns, also known as the column dollar (), which comes from the Pillars of Hercules depicted on the coin. In the East, the coin was also called a colonato or a colonnato.

Trade Coin

The piastre played a significant role in trade until the 19th century, competing with other coins such as the levendalder and thaler of Maria Theresa in the Levant. In Prussia, under King Frederick II (1740-1786), the Royal Prussian Asiatic Company minted piastres for trade with Southeast Asia. Denmark produced piastres depicting the Danish coat of arms in 1624.

Adoption by Other Countries

The term "piastre" was adopted by various countries:

* The Republic of Venice initially used it as a currency.
* France, among others, received the Levant and eventually adopted the piastre.
* The Ottoman Empire (under the name of kuruş) also adopted the piastre.

French Adoption

In France, the silver coins of Spain, America, and Indochina were identified with the term "piastre."