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The United States Dollar was named after the German Thaler, and was equal to a Spanish Piece of Eight (8 Reales coin). Until the 1850s, the United States used pieces of eight as currency; cutting them like a pie into 8 pieces known as "bits." A bit was worth 12-1/2 cents. a quarter was worth 2 bits (hence the saying).
The French Ecu, British Crown, Russian Rouble, and the German Thaler were all made of silver, and similar in weight and size to the Spanish Piece of Eight. Each of these coins were worth 2 weeks room and board in the 1700s.
Below are some details of the monetary systems used by different countries during the period of the conquest of the New World.

 
SPANISH CURRENCY:
34 copper Marevedis = 1 silver Real. 16 silver Reales = 1 gold Escudo.
16 pieces of eight (silver 8 Reales coins) = 1 gold Doubloon (8 Escudos).


BRITISH CURRENCY:
4 copper Farthings = 1 Penny. 4 Pence (plural of Penny) = 1 silver Groat (Also known as a Fourpenny). 3 silver Groats = 1 silver Shilling (also called a Testoon). 2 silver Shillings = 1 silver Florin. 5 silver Shillings = 1 silver Crown. 4 silver Crowns = 1 Pound (sterling silver) or 1 gold Sovereign. 21 silver shillings = 1 gold Guinea.


DUTCH CURRENCY:
100 Cents = 1 silver Guilder.


GERMAN CURRENCY:
2 copper Pfennings (Pennies)  = 1 copper Heller. 144 copper Hellers = 1 silver Thaler.


RUSSIAN CURRENCY:
100 Kopecks = 1 silver Rouble.

 
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