The spesmilo (, 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 ÃÂekbanko Esperantista.
The spesmilo was equivalent to one thousand spesoj, and worth 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 Swiss 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.
The spesmilo sign, called ' in Esperanto, is a monogram of a cursive capital "S", from whose tail emerges an "m". The currency sign is often typeset as the separate letters Sm.
In Unicode, the character is assigned in version 5.2.