OK Ardi, educate me. I am unaware of any billon 4 reales that were minted in Spain or at the colonial mints. It would have been cause for execution. What kind of date are you talking about ?
My apologies, they're silver, just struck on a different system. I'm refering to the de vellon, struck 1808-1850. My poor grasp of Spanish interpreted that as billon. Can't find any 4 reales from the series, so here's a 20: http://www.mcsearch.info/record.html?id=1111479
I was wondering if you were talking about coins minted after the valuation change, that's why I asked about the date. Of course it never made sense to me why or even how they did that and got it to work. I mean they kept on minting the old coinage too right alongside the new for about 20 or 30 years, then the final changeover in 1850. In fact they even made the old coinage slightly heavier during that time, a 4 reales from 13.48 gm to 13.54 gm once they started making the new. Very confusing system, all due to Napoleon. It would have been like us minting two half dollars, with 1 worth 50 cents and the other worth about 20 cents. And have them circulate side by side.
It's not an entirely unknown concept. There were Byzantine solidi struck at the same time, from the same mints, with the same basic types, weighing 20, 21, or 22 siliquae. They were differentiated by different control marks and the lower weight issues were primarily for trade. I assumed a similar case here. Maybe the de vellon issues circulated in a different part of the country?
Yeah, it has happened throughout history time and time again. Any time the King, Queen, whatever, decided they needed more money in the treasury all they had to do was change the coinage. That's how they got most of it, well along with taxes. Even the US did it. Everybody did it.
Bit of a tangent, but have you ever read Fractional Money by Neil Carothers? It's like the college textbook of US coinage, delving not so much into the what and when, but the why.
You should! Here's an esylum review: http://www.coinbooks.org/esylum_v16n45a08.html It's out of print now, but still available used for under $30. http://www.bookfinder.com/search/?a...hor=neil%20carothers&title=fractional%20money