jan 1, 1566 - 1566: The Spanish Escudo, a gold coin, is introduced to be worth 16 reales.

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Sources:

Sumner, W. G. "The Spanish Dollar and the Colonial Shilling." The American Historical Review 3, no. 4 (1898): 607-19. doi:10.2307/1834139.

Stride, H. G. "THE MARIA THERESA THALER." The Numismatic Chronicle and Journal of the Royal Numismatic Society 16 (1956): 339-43. www.jstor.org/stable/42678400.

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