Gibraltarian real
Encyclopedia
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
until 1825 and continued to circulate alongside other Spanish
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
and British currencies until 1898.
History
After the Anglo-Dutch occupied Gibraltar in 1704, the Spanish realSpanish real
The real was a unit of currency in Spain for several centuries after the mid-14th century, but changed in value relative to other units introduced...
continued to circulate in the town. However, no distinction was made between the silver (de plata) and billon
Billon (alloy)
Billon is an alloy of a precious metal with a majority base metal content . It is used chiefly for making coins, medals, and token coins.The word comes from the French bille....
(de vellón) reales issued by the Spanish (1 real de plata = 2 reales de vellón before 1737, 2½ after), providing a substantial profit for the army officers making payments to troops.
In 1741, the following rates of exchange were established: 2 blancas = 1 maravedi, 4 maravedíes = 1 quarto or quart, 16 quartos = 1 real de vellón, 8 reales de vellón = 1 peso sencillo ("current" dollar), 10 reales de vellón = 1 peso fuerte ("hard" dollar, also known as the Spanish dollar
Spanish dollar
The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...
). These roughly doubled the value of the real de vellón relative to its value in Spain. Much of the currency in circulation was in the form of copper coins, since the low value of silver coins relative to billon lead to most silver being exported from Gibraltar to Spain. Copper merchants' tokens denominated in quarts were issued between 1802 and 1820.
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...
s and 4 pence
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...
and British silver coins were imported. However, because this rating of the dollar was too high, British silver coins could not circulate, although British coppers did, with an informal valuation of 1 quart = 1 farthing (actually 1 quart = 1 farthings). This discrepancy was also exploited to the profit of army officers making payments to troops.
In 1842, coins were issued in ½, 1 and 2 quarts denominations. A total of 387,072 quarts worth of coins were issued (equal to 2016 dollars or £436 16s), allowing soldiers wages to be paid in quarts rather than pence. Other coins continued to circulate, however, until 1872. In that year, the Spanish currency became the sole legal tender in Gibraltar. In 1898, the Spanish–American War made the Spanish peseta
Spanish peseta
The peseta was the currency of Spain between 1869 and 2002. Along with the French franc, it was also a de facto currency used in Andorra .- Etymology :...
drop alarmingly and the pound
Gibraltar pound
The Gibraltar pound is the currency of Gibraltar. It is exchangeable with the UK pound sterling at par value.-History:...
was introduced as the sole currency of the colony, initially in the form of British coins and banknotes.
Tokens, 1802-1820
Traders' currency tokens were issued in GibraltarGibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
between 1802 and 1820 by Robert Keeling, Richard Cattons, and James Spittles. There were two denominations - 1 quart (or quarto) and 2 quarts (or 2 quartos).
Robert Keeling's issues
| KM | Year | Denomination | Obverse | Reverse |
|---|---|---|---|---|
| Tn 1 | 1802 | 1 quarto | View of The Rock Rock of Gibraltar The Rock of Gibraltar is a monolithic limestone promontory located in Gibraltar, off the southwestern tip of Europe on the Iberian Peninsula. It is high... from The Bay Bay of Gibraltar The Bay of Gibraltar is a bay at the southern end of the Iberian Peninsula. It is around long by wide, covering an area of some , with a depth of up to in the centre of the bay... and 'Payable at R Keeling's Gibralter' [sic] |
Castle and Key Coat of arms of Gibraltar The coat of arms of Gibraltar was first granted by a Royal Warrant passed in Toledo on July 10, 1502, by Isabella I of Castile during Gibraltar's Spanish period... |
| Tn 2.1 | 1802 | 2 quartos | View of The Rock from The Bay and 'Payable at R Keeling's Gibralter' [sic] | Castle and Key |
| Tn 3.2 | 1810 [small date] | 1 quarto | Lion and key and 'Payable at Robert Keeling & Sons Gibraltar' | Castle |
| Tn 4.2 | 1810 [small date] | 2 quartos | Lion and key and 'Payable at Robert Keeling & Sons Gibraltar' | Castle |
| Tn 3.1 | 1810 [large date] | 1 quarto | Lion and key and 'Payable at Robert Keeling & Sons Gibraltar' | Castle |
| Tn 4.1 | 1810 [large date] | 2 quartos | Lion and key and 'Payable at Robert Keeling & Sons Gibraltar' | Castle |
Richard Cattons' issues
| KM | Year | Denomination | Obverse | Reverse |
|---|---|---|---|---|
| Tn 5 | 1813 | 1 quarto | Lion and key and 'Payable at Richard Cattons Goldsmith' | Crown and Wreath |
| Tn 6 | 1813 | 2 quartos | Lion and key and 'Payable at Richard Cattons Goldsmith' | Crown and Wreath and Agente para la fabrica de diamantes patentes de Duddell Holborn Londres (Agents for the production of patent diamonds of Duddell Holborn (London)) |
James Spittles' issues
| KM | Year | Denomination | Obverse | Reverse |
|---|---|---|---|---|
| Tn 7 | 1818 | 2 quartos | Lion and key and 'Payable at James Spittles' | Moorish Castle Moorish Castle The Moorish Castle is the name given to a Medieval fortification in Gibraltar, made up of various buildings, gates, fortified walls and its most dominant features, the Tower of Homage and the Gate House. The former is clearly visible to all visitors to Gibraltar, not only because of its striking... |
| 1820 | 1 quarto | Lion and key and 'Payable at James Spittles' | Moorish Castle | |
| Tn 9 | 1820 | 2 quartos | Lion and key and 'Payable at James Spittles' | Moorish Castle |
Coins, 1842
| Year | Denomination | Obverse | Reverse |
|---|---|---|---|
| 1842 | ½, 1 and 2 quarts | Queen Victoria and 'Victoria D:G: Britanniar: Regina F:D: 1842' | Castle and Key. 'Gibraltar' above, denomination below |
Note that proofs of these coins were also issued in 1860 and 1861.