The Spanish dollar, also known as the piece of eight, is a silver coin of approximately 38 mm (1.5 in) diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g (0.8219 ozt) fine silver. It was widely used as the first international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency.

The peso is the monetary unit of several Spanish-speaking countries in Latin America, as well as the Philippines. Originating in the Spanish Empire, the word peso translates to "weight". In most countries of the Americas, the symbol commonly known as dollar sign, "$", was originally used as an abbreviation of "pesos" and later adopted by the dollar. The dollar itself actually originated from the peso or Spanish dollar in the late 18th century. The sign "₱" is used in the Philippines.