Pirates Of The Caribbean's Pieces Of Eight Explained (& Why There Are 9)
The Pirate Lords of the Brethren Court rule over the unlawful aspects of the sea in Pirates of the Caribbean, and they each carry a Piece of Eight.

In Pirates of the Caribbean, the nine so-called Pieces of Eight belong to and signify the Pirate Lords of the Brethren Court - but they are more than just trinkets. The films are set during the Golden Age of Piracy and follow a motley, disparate crew led by the eccentric Captain Jack Sparrow. In classic action movie fashion, the series mixes real historical details with supernatural elements drawn from folklore, myth, and fantasy.
Loosely based upon the real Brethren of the Coast, the Brethren Court of the Pirates of the Caribbean films is always composed of nine Pirate Lords, each of whom have received the title from a previous Pirate Lord, whether by virtue of their buccaneering merit or by force. More a loose coalition than a consistent governing body, the Brethren Court would usually only convene for massive undertakings, like the binding of Calypso or the growing threat of Cutler Beckett. The Court also had the authority to write and subsequently alter the Pirate's Code, which, although more than once referred to as mere guidelines, was a venerable part of pirate culture.
When the First Brethren Court was formed, the tokens signifying membership were originally meant to be actual pieces of eight, also known as Spanish dollars, a real piece of currency in the Age of Sail that came to be universally acknowledged and thus very valuable. However, because the first Pirate Lords were somewhat lacking in treasure, they opted to use an eclectic selection of other objects, including a playing card, a prosthetic eye, and a coin from ancient Siam. They continued to use the term "Pieces of Eight," however, in spite of the fact that there were nine members.

Because they were used by the First Brethren Court to bind Calypso in human form, the Pieces of Eight were ritualistically burned by Hector Barbossa in Pirates of the Caribbean: At World's End, in the time of the Fourth Brethren Court. He did this to release the goddess, in the hopes that she would aid them in the battle against Beckett and the East India Trading Company. Although the majority of the Pirate Lords opposed this, they were nevertheless led to war under the influence of newly-elected Pirate King Elizabeth Swann.
Before being given their magical properties, the Pieces of Eight were still meant to allow entrance into the esteemed Brethren Court, but most were (out of necessity) inherently valueless objects. While this sacrificed the ostentatious affluence of using currency, it did underline the self-determination that is integral to pirate culture. More practically, as the Court grew in significance, the unique nature of the objects and their use in marking succession also provided insurance against the inevitable dubious claims to the titles of dead Pirate Lords (although the Third Brethren Court did face just such a controversy).
The esoteric worldbuilding of the Pirates of the Caribbean franchise was greatly deepened as the series continued, particularly in the last two movies of the original trilogy. Much of this material emphasized the supernatural elements of the world, but the Pieces of Eight - and the Pirate Lords of the Brethren Court more broadly - served to flesh out the pirate society, showing that their outlaw hierarchy as established by the films, while chaotic, is in fact built upon a long tradition of (relative) order.
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