Pieces of Eight

The video explores the history and significance of 'pieces of eight,' a term originating from pirates and Spanish silver dollars. These coins, divided into eight pieces, revolutionized trade and became integral to the U.S. economy. The discovery of silver in Bolivia led to mass production, influencing the U.S. dollar. Despite being outlawed in 1857, their legacy persists.

What was the original purpose of dividing the Spanish silver dollar into eight pieces?

• To make it easier to carry

• To prevent counterfeiting

• To pay for items worth less than a full peso

• To create a new form of currency

How did pieces of eight contribute to the economy during their time?

• They were used to fund wars

• They made shopping and trade easier

• They were a form of tax payment

• They were used exclusively by pirates

Where were the vast silver deposits that boosted the production of pieces of eight discovered?

• Peru

• Chile

• Bolivia

• Mexico

What was the significance of pieces of eight in the early United States?

• They were used as a form of tax

• They were the basis for the first U.S. dollar coin

• They were banned immediately after independence

• They were used only by the wealthy

Until when were pieces of eight used in the United States?

• The 19th century

• The 18th century

• The 21st century

• The 20th century