Fuerte Publique Deposited
The Spanish equivalent for our word Dollar; primarily it means a weight, and by implication the weight of an ounce. This designation is apparent when it is considered that originally it was only a silver bar, the value of which was determined by weighing.
As a silver coin of Spain it was issued about the middle of the sixteenth century. Its value, eight Reales, is frequently found on the side of the armorial shield on the reverse; thus, VIII or 8, and from this circumstance arose the expression "Piece of Eight."
The Peso at times had a value of ten Reales. By a decree of June 6, 1856, the Paraguay government decided that the Spanish Piastre should be reckoned equal to ten Reales. See Graty, Republica de Paraguay (p. 403). This refers to the Peso, which is frequently termed a Piastre. In Colombia the Peso of ten Reales was introduced about 1850, an essay having appeared in 1849, Fonrobert (8135); and in Venezuela about 1863, Fonrobert (7953).
Of the obsidional Pesos there were issues for Chile, Copiapo, Lima, Sombrerete, and Zacatecas.
The Peso Duro is a somewhat larger coin, and of a value of twenty Reales. It was issued under Philip III (1598-1621) by Joseph Napoleon from 1809 to 1812, and by Isabella II in 1835 and 1836. See Duro.
In the South American series and the Philippines the Peso is divided into one hundred Centavos. In Uruguay it is one hundred Centesimos; and the Peso of Panama is equal to one half Balboa (q.v.), or fifty Centesimos.
The Peso Fuerte of Venezuela is equal to five Bolivares and is divided into one hundred Centavos, and the Peso Maquina of the same country equals four Bolivares or eighty Centavos.
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)