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TeachMeFinance.com - explain Hammered dollar historic definition... Hammered dollar -- Mexico when released from the rule of Spain retained a large amount of Spanish silver coins. The royal effigy on the silver dollar was officially battered or hammered out of recognition, which served the double purpose of testifying to the emancipation of Mexico and of keeping the coins at home. The silver dollar thus defaced was commonly designated as the hammered dollar. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.