This is wonderful, I give you perfect historian because of the good and useful information you have embedded on me, I never knew of this with my research, but today you have become my google search

If you’ve ever heard the term “hacksilver”, bits were a similar concept. In the past, when people wanted to divide a larger piece of silver bullion or old jewelry, they would hack or cut it into pieces. Each piece’s value would depend upon its weight. The word “Peso” comes from the Spanish word for weight, and pesos were the Spanish successor currency to reales that resulted in the peso term being used for monetary currency in many Spanish colonies. Today, the term peso is used in Argentina, Chile, Colombia, Cuba, the Dominican Republic, Mexico, the Philippines, and Uruguay, while an additional 13 former Spanish colonies also once used pesos. Mexico re-introduced reales for a period of time in the 19th Century when its silver pesos >were not doing as well.

To be frank with you I heard of this but never understand today you have make me to become big fool, cose I never search well boss.

The below words you break down was so funny then, with the thought of human about coins.

Hacking Real Coins
What if someone needed a smaller unit? They hacked the coin in half, and then half again, and then half once more. An 8 real coin divided nicely into 8 smaller pieces, each one worth 1 real (or 1/8 of the original coin’s value). These also became known as “bits” because each one represented a bit of the coin. “Two bits” meant 1/4 of a coin or two reales. The slang term “two bit” came to mean something of cheap quality, such as “two >bit suit” or “two bit hustler.”

Thanks a lot for the information and I want to tell u how much you have blessed most of us with this global information.

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