Mexico

MEXICAN COINS

Mexico’s currency is the peso. The “$” is the symbol used for the peso basically the same as for the US dollar since the dollar derived its logo from the Spanish-Mexican currency. The Pesos is one of the top most traded currencies in the world.

The peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in America and Asia from the height of the Spanish Empire until the early 19th century. After Mexico gained its independence in 1821, the new government continued the Spanish monetary system of 16 silver reales = 1 gold escudo, with the peso of 8 reales the largest silver coin. Paper money was also issued, denominated in pesos.

Mexico

The peso was originally the name of the eight-real coins issued by Spain in Mexico. And first peso was minted in 1823 of .903 silver

In 1920 Mexico changed silver content to 72%silver oue.720 and kept this percentage for 25 years,in 1918 silver Mexican coin were 14.5 grams

This silver peso coin was a powerful trade coin til in 1957 they were only only 10% silver or 16 gram coin with 1.6 grams silver.

The US trade dollar surpassed this coin eventually as worlds most trusted trade coin

In 1905, the gold content of the peso was reduced by 49.3% but the silver content of the peso remained initially unchanged. However, from 1918 onward, the weight and fineness of all the silver coins declined, until 1977, when the last silver 100-peso coins were minted.