Editing Peso (section)

===In Spain===
While the relationship of {{val|8 |u=reales}} = {{val|p=$|1}} (or peso duro) continued in the Americas until the 19th century, Spain struggled with the issuance of ''reales de vellon'' (made of [[billon (alloy)|billon alloy]] with less than ½ silver) of various weights and finenesses starting in 1600 due to its domestic financial and monetary problems.

In 1642, it first recognized a new, reduced ''real provincial'' worth only {{val|p=$|0.10}} or {{val|10 |u=reales/$}} for use only in Spain (with the old real worth {{val|p=$|0.125}} now called ''real nacional'' and retained in Latin America). In 1686 Spain minted a coin worth {{val|8 |u=reales}} provinciales (or only {{val|p=$|0.80}}, known as the ''peso maria'' or ''peso sencillo'') which was poorly received by the people.<ref>{{Cite web | url=https://en.numista.com/catalogue/pieces84452.html |title = 8 Reales}}</ref>

An edict made in the same year which valued the peso duro at {{val|p=$|1}} = 15 and 2/34 reales de vellon proved to be ineffective as the various reales in circulation contained even less silver. The situation was only resolved in 1837 with the peso duro fixed at $1 = 20 reales de vellon, with all prior non-standard reales demonetized.

The loss of Spain's territories in the Americas and the ensuing domestic instability in the 19th century cut off the inflow of precious metals into Spain and resulted in French coinage gradually entering domestic circulation. Two subsequent decimal system reforms were attempted in 1850 (at {{val|p=$|1}} = {{val|20 |u=reales}}, each of {{val|10 |u=''decimos''}} or {{val|100 |u=''centimos''}}) and 1864 (at {{val|p=$|1}} = {{val|2 |u=''[[Spanish escudo#silver escudo|silver escudos]]''}}, each of {{val|100 |u=centimos}}) but were not fully carried out. The peso and the real were only fully retired with the introduction in 1868 of the [[Spanish peseta]], at par with the [[French franc]], and at the rate of {{val|p=$|1}} = {{val|20 |u=reales}} = {{val|5 |u=pesetas}} = {{val|22.5 |ul=g}} of fine silver.