Look up Pieces of Eight in Wiktionary, the free dictionary.
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Pieces of Eight (song), A song by Rush drummer Neil Peart, in which both electronic and acoustic drums are used.
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The coins were often physically cut into eight "bits," or sometimes four quarters, to make smaller change.
This is the origin of the colloquial name "pieces of eight" for the coin, and of "quarter" and "two bits" for twenty-five cents in the United States.
Long tied to the lore of piracy, "pieces of eight" were manufactured in the Americas and transported in bulk back to Spain (to pay for wars and various other things), making them a very tempting target for seagoing pirates.