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Message:: [QUOTE="Hispanicus, post: 2677288, member: 72626"]Movajedave, I ran across a 1962 Whitman publication; THE MONEY OF PUERTO RICO, by Maurice M. Gould & Lincoln W. Higgie that offers an explanation about the switch from Spanish currency to U.S. currency. The following is a direct quote: “After Puerto Rico was occupied by the United Sates, a proclamation was issued by President McKinley dated December 28, 1898, to establish money values on the island. It provided that after January 1, 1899, only United States money, Spanish 25 peseta gold pieces and French20 franc gold coins were to be accepted for customs, taxes, public and postal dues. The coins of 1895-1896 were to be accepted at the rate of 60 cents on the peso. The Puerto Rican silver coins continued to circulate at their reduced values, being gradually withdrawn from circulation and being melted down during the next few years until the majority were disposed of”. What’s interesting is that the island already had a well established secondary monetary system of tokens issued by the plantation owners (Haciendados) for use by laborers. These remained in use for years and are now collectible and pricey.  Hope this sheds some light on your inquiry.[/QUOTE]