Between 1811 and 1814 currency consisted of various counterstamped Spanish and Spanish colonial coins, some of which were cut or holed. The Spanish dollar was subdivided into "bits", each worth 9 "pence", 6 "black dogs" or 4 "stampees". Before 1811, 1 dollar = 11 bits and the dollar equalled 8 Spanish reales. After 1811, 1 dollar = 12 bits and 1½ dollars equalled 8 reales. 4½, 6, 9 and 12 bits coins were produced. The 4½ and 9 bits were made from 2 and 4 reales coins. The 4½ bits was counterstamped with "S", "IV½" and "B", whilst the 9 bits was counterstamped with "S" and "IX". To produce the 6 and 12 bits, 8 reales coins were holed. The central plug was stamped with "S" and "VI" to produce the 6 bits, whilst the ring (or holey dollar) was stamped with "S" and "XII" to make the 12 bits.