Peseta Público Deposited
The monetary unit of Spain, replacing the Escudo in 1868 when the Latin Union system was adopted. It is divided into one hundred Centimos, and there are multiples in gold of ten. twenty, and twenty-five, and in silver of five Pese- tas.
The etymology is from pezzo, a piece, or portion, whence pezeta, a small piece. This is borne out by the fact that it was originally a part of the Peso; the latter coin consisting of eight Reales, whereas the Peseta was equal to two silver or four copper Reales.
In the Peruvian coinage the Peseta is a silver coin equal to the one fifth of a Sol, but its value is little more than half that of the Spanish unit. It is equal to two Dineros, or twenty Centavos.
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)