A doubloon was a currency used in Spain and many of its colonies. It referred to 32 reales (a Spanish unit of currency) or two escudo (a currency denomination). A doubloon weighed approximately 6.77 grams and was minted in the following countries: Spain, Nueva Granada, Peru, Mexico and Portugal.
The doubloon was first used in relation to the golden excelente. The reasons why are debatable. Some people contend that it was because the doubloon was worth two ducats. Other individuals claim that it was used as a description for the golden excelente, because it contained a double portrait of Isabella and Ferdinand.
Gold doubloons are no longer used as a form of currency. The last time it was, was during the mid-point of the 19th century. It was replaced by Isabella II of Spain during this time. In its place, was a currency based on the decimal reales. The 6.77 gram doubloon was replaced by a newer, heftier one, which was equivalent to 100 reales. It weighed approximately 8.3771 grams.
Spanish doubloons were last minted in 1849. However, some Spanish colonies continued to mint them. Nueva Granada, Peru and Mexico continued minting doubloons in their countries for some time, even after production stopped in Spain.
The influence of the doubloon was seen and felt throughout Europe. Some of the continent’s gold coins were modeled after the doubloon, amongst them, the Swiss duplone, the Prussian Friedrich d’or, the Italian doppia, the French Louis d’or and the Northern German pistole.
Though doubloons are no longer used as a form of currency, they are quite valuable to investors and collectors. Depending upon the specifications of the specific doubloon, prices for investors can range from a couple hundred dollars, to several thousand dollars.
Doubloons are also referred to in popular culture. In New Orleans (Louisiana), they have been given out during the Mardi Gras holiday by carnival krewes, since the late 1950s. Rex Krewe was the first person to throw them out during the famous carnival. The actual coins aren’t thrown out. Instead, aluminum replicas are. These replicas are also given out during Mardi Gras celebrations in Mobile, Alabama.
Other popular culture uses for doubloons are as a slang word for poker chips. In the famous book, Moby-Dick, there is a chapter titled, The Doubloon. In the board game, Puerto Rico, players use doubloons as money. In the Disney Junior television program, “Jake and the Never Land Pirates,” the show’s stars go in search of gold doubloons.
In Summmary
Doubloons are an ancient form of currency. Once primarily used in Mexico, Spain, Nueva Granada, Peru and Portugal, they aren’t any longer. However, they still hold a special place in both coin investing/collecting, as well as in popular culture.