reales

Reales is the plural form of real, a historic currency unit used in Spain and many parts of the Spanish Empire from the late medieval period through the 19th century. The real originated as a silver coin minted by the Crown of Castile and developed into a widely circulated standard within the Iberian Peninsula and across its overseas territories. It existed in several denominations, commonly 1, 2, 4, and 8 reales. The eight-reales coin, known as the real de a ocho or “piece of eight,” became particularly important in international trade and left a lasting impression on monetary systems in various regions.

Throughout the colonial era, reales circulated extensively in the Americas, the Philippines, and other territories under Spanish influence. In many areas the real served as the basic unit of account and exchange, often alongside local coinages and later emerging national currencies. The real de plata coins were widely used, contributing to a relatively stable monetary framework for merchants and settlers in distant lands.

Decline and legacy followed the wider 19th-century currency reforms in Spain and its colonies. In Spain, the real progressively gave way to the peseta after 1868, when a decimal national currency was introduced. In former colonies, the real faded from official use as new currencies replaced the old system, though it persists in historical records, numismatic collections, and scholarly references. The term reales remains a key identifier in cataloging old Spanish coins and documenting monetary history.