Puerto Rico's Monetary History

From the time of Puerto Rico was discovered in 1493, to 1899, when the US exchanged the Puerto Rican "peso" to the dollar, the coins of many countries circulated freely in the island. During the colonization of Puerto Rico, the money that was used in Puerto Rico, was that of Spain. Beginning in the 17th century, the provincial currency (silver) minted in the Casa de Moneda de Madrid, in the denominations of 1 peso, 40 cents, 20 cents, 10 cents and 5 cents. These five denominations had a common design, with the figure of Alfonso XIII (1886 - 1931) boy by a side and the other the shield of Spain, with the real crown between the two columns of Hercules and the Puerto Rico inscription.

Coins
 

5 Centavos de Peso
Units: 600.000 coins were minted in its first year of production, 1895 Puerto Rico PG V 
Material: Silver 835/1000
Weight: 1,25gr
Diameter: 16,5mm

 

 

10 Centavos de Peso 
Units: 700,000 coins were minted in its first year of production, 1895 Puerto Rico PG V 
Material: Silver 835/1000
Weight: 2,5gr
Diameter: 18,5mm

 

 

20 Centavos de Peso
Units: 3.350.006 coins were minted in its first year of production, 1895 Puerto Rico PG V 
Material Silver 835/1000
Weight: 5gr
Diameter: 23,5mm
 

 

40 Centavos de Peso
Units: 752.002 coins were minted in its first year of production, 1895 Puerto Rico PG V 
Material: Silver 835/1000
Weight: 10gr 
Diameter: 31mm


 

1 Peso
Units: 8.500.021 coins were minted in its first year of production, 1895 Puerto Rico PG V Material: Silver 900/1000
Weight: 25 gr
Diameter: 37,5mm

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Spanish and American currencies of 1898

 

Interesting Fact:

The one of Spain it was worth 5 pesetas and the American 1 dollar. From 1895-96 the Puerto Rican provincial peso was in circulation, but at the beginning of the 20th century an interchange took place, paying 60 cents of a dollar, which created a serious problem to investors, banks and the economy in general. The Puerto Rican currency had more value, in silver, that the one from the USA, but this one was endorsed in gold and the Puerto Rican only by its own weight in silver. In the end the Puerto Rican peso was fused to make the dollar of 1902.

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