Spain

Following the introduction of the Guldengroschen in Austria in 1486, the concept of a large silver coin with high purity (sometimes known as "specie" coinage) eventually spread throughout the rest of Europe. Monetary reform in Spain brought about the introduction of an 8 reales coin in 1497.The coin was minted with several different designs in the following centuries at various mints in Spain through to the 19th century, having gained wide acceptance beyond Spain's borders. In the 19th century, the coin's denomination was changed to 20 reales (based on 20 reales de vellon) and finally 2 escudos.Spain's adoption of the peseta and joining the Latin Monetary Union meant the effective end for the last vestiges of the Spanish dollar in Spain itself. However, the 5 pesetas coin was slightly smaller and lighter but was also of high purity (90%) silver.In the 1990s, commemorative 2000 pesetas coins were minted, similar in size and weight to the 8 reales and also with high finesse.