Spanish 8 reales, 1805, countermarked for use in Saint Barthélemy
In 1784, King Gustav III acquired the island of Saint Barthélemy in the West Indies from France, and the island became a Swedish colony. He founded the town of Gustavia as a free port and the colony enjoyed an economic boost, but it did not have its own coin production.
Other countries’ currencies were used to make payment instead. The Spanish piaster (peso) was the most important silver coin on Saint Barthélemy and throughout the West Indies.
The peso was known as the dollar in North America and, modelled on the peso, the dollar became the main currency of the United States in 1792. The engraver of the coin was Robert Scot.
