Spanish maravedí

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The maravedí was a coin used in Spain for several centuries. It was originally a gold coin issued by the Moors in Al-Andalus under the Almoravids, and derived its name from "moravetinos". Adopted by the Christian states, it declined in value, becoming first a silver coin, then a copper coin. With the exception of Catalonia and the Balearic Islands, the maravedí replaced the dinero as the unit of account.

According to estimates, King Charles, of Spain, financed Ferdinand Magellan's epic voyage around the earth for 8,751,125 maravedis in March of 1518.

It was last issued in the 1850s, when the Spanish currency was changed to a decimal system based on the real de vellón, previously worth 34 maravedíes.

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