Gold doubloon

2 Gold Escudos (Doubloons) minted during the reign of Philip II between 1556 and 1598

The doubloon (also called the excellent) was a Spanish gold coin equal to two escudos or 32 reales, and weighing 6.77 grams (0.218 troy ounces). Doubloons were minted in Spain, Mexico, Peru, and New Granada. The term "doubloon" was first used to describe the gold excellent, possibly due to its value of two ducats or the double portrait of the Catholic Monarchs Ferdinand and Isabella.

In Spain, doubloons were legal tender until the mid-19th century. In 1859, Isabella II replaced the escudo with the reales as the basis for the doubloon; she also replaced the 6.77-gram doubloon with a new, heavier one equal to 100 reales and weighing 8.3771 grams (0.268 troy ounces). The last Spanish doubloons (denoting the denomination of 80 reales) were minted in 1849. The Spanish colonies of Mexico, Peru, and New Granada continued minting doubloons after gaining independence.

The Portuguese colonies also minted doubloons called dobrão (with the same meaning).

In Europe, the doubloon became the model for many other gold coins, including the French Louis d'or, the Italian doppia, the Swiss duplone, the North German pistole, and the Prussian Friedrich d'or.