"The First Dollar – How a Spanish silver coin conquered the world" is the biography of the most important coin in history: the Spanish Dollar, or "Piece of Eight" (Real de a Ocho). Mined in the Americas, this coin was the first true global currency. It was legal tender in the United States until 1857 and was the basis for the Chinese yuan, the Japanese yen, and the US dollar. Economic historian Sebastian Real explains how this coin connected the world. It funded the Taj Mahal, fueled the opium trade, and was the prize of every pirate in the Caribbean. The book explains why it was often cut into "bits" (hence "two bits" for a quarter). "The First Dollar" shows that globalization is not new. It illustrates how a reliable, standardized piece of silver allowed a merchant in Boston to trade with a tea seller in Canton, creating the modern web of commerce we live in today.
