Dutch and Spanish Rule (1624–1662)

Lying at the trading crossroads of China, Japan, and Southeast Asia, Taiwan was a foothold for pirates, smugglers, and seasonal fishermen. In the 17th century, Taiwan became an important East Asian trading post for the Netherlands and Spain, and with this trade came also a huge influx of silver into Taiwan.

Dutch and Spanish silver coins were denominated in Guilder and Real, respectively. The inflow of silver and interventions by trading partners both had an impact on the original bartering system of the Taiwanese people. Up until the Ming and Qing Dynasties, silver was still the main currency in Taiwan.