When were they introduced, and by whom? Did they quickly replace barter and other forms of currency, or was it a more gradual transition? Thanks!
Spain, with its large supply of gold and silver made it the largest contributor of coinage to the territories that would become the United States. In the 1700s old issues were used by wealthier businessmen and bankers while the common people used silver 8-reales, pieces of eight (also called milled dollars or cobs). Each reale was worth 12 and a half cents and the coin was frequently cut in half, quarters or into all eight. However the coins reach did not extend everywhere mostly confined to cities or coastal towns and rarely seeing use in rural areas, where barter would continue.
Earlier colonists came with few coins, but these coins would be hoarded. However taxes to the crown had to be paid in 'lawful money' coins. It was a gradual transition of Spanish coins in the 1700s until the mint could meet demand around 1800 that barter fell out of favor.
America's Money by Joseph Massey