Spanish Colonial mints existed in the New World long before there were mints in the U.S. This coin like the 4-bit comes from the Spanish Bust Peso. Colonists would cut the coin up in halves or two-bits (which to this day people still refer to the quarter as two-bits) to give change. For almost 300 years Spain had colonial rule on 12 different mints, including Mexico, Santo Domingo, Lima, Peru, Panama, Spain, Potosi, La Plata, several more.
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