An 1896 5-centavos coined by Spain for its Puerto Rico colony, weighing 1.25g and struck in .900 silver. This coin is the low-value in the 5-member (all silver) peso/peseta/centavo coin series introduced into the island in 1895-96 in an effort to finally bring some order to the chaotic coinage situation there.
Ironically, of course, the coinage initiative was too late. Just a couple of years after this 1896 5-centavo was minted, Spain ceded Puerto Rico to the United States as a result of the Spanish-American War of 1898. The peso was soon replaced by the Puerto Rican dollar, and then not long after that, the American dollar.
A small reminder of this short-lived Puerto Rican coinage does survive, however. The 1-peso coin of 1895-96 broadcast its value as “1 PESO = 5 P[esetas],” and even today, more than a century later, the American quarter-dollars circulating in the Commonwealth of Puerto Rico—now a U.S. Territory—are called, locally, “pesetas.”
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