Puerto Rico, the farthest east of the Greater Antilles, lies about 1,000 miles southeast of Florida between the Atlantic Ocean and the Caribbean Sea. Settled by Spain in 1508, the island was ceded to the United States after the Spanish-American War in 1898. Puerto Ricans were granted U.S. citizenship in 1917. Today Puerto Rico is a self-governing territory of the United States with commonwealth status.
Collectors of United States coins often include Puerto Rican coins in their collections, even though they are not U.S. issues. After the Spanish-American War, exchange rates were set for these coins relative to the U.S. dollar, and the island transitioned to a dollar-based currency. Today in Puerto Rico the dollar is still popularly referred to as a “peso.”