Spesmilo

The spesmilo (pronounced, plural spesmiloj) is an obsolete decimal international currency, proposed in 1907 by René de Saussure and used before World War I by a few British and Swiss banks, primarily the Ĉekbanko Esperantista.

The spesmilo was equivalent to one thousand spesoj, and worth 0.733 grams (0.0259 oz) of pure gold (0.8 grams of 22 karat gold), which at the time was about one-half United States dollar, two shillings (one-tenth of a pound sterling) in Britain, one Russian ruble, or 2+1⁄2Swiss francs.

The basic unit, the speso (from Italian or German ; spesmilo is Esperanto for "a thousand pennies"), was purposely made very small to avoid fractions.