TeachMeFinance.com - explain Hammered dollar
Hammered dollar -- Mexico when released from the rule of
Spain retained a large amount of Spanish silver coins. The
royal effigy on the silver dollar was officially battered or hammered
out of recognition, which served the double purpose
of testifying to the emancipation of Mexico and of keeping the
coins at home. The silver dollar thus defaced was commonly
designated as the hammered dollar.
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