The Spanish dollar, also known as the piece of eight, was a silver coin used widely in the Americas and Europe from the 16th to the 19th centuries. It was originally minted in Spain and became popular due to its high silver content and ease of use in trade. The coin was often cut into eight pieces, which is how it got its nickname. The Spanish dollar played a significant role in global commerce, influencing the development of various currencies, including the U.S. dollar. Its design featured the Spanish coat of arms and was recognized for its value across many countries, making it a key player in international trade during its time.