Mexican Coins
The history of Mexican coinage, or at least Mexican currency history, can be traced back hundreds of years to before the Aztecs, who were famous for both their worship of the sun and their gold, which shone like the sun. Before Mexicans had a coin for trade of goods, they used cacao (the most accepted currency), jade and jade beads, blankets made of cotton, hatchets, quills and gold powder. Because Spain had control of the happenings in Mexico—then a much larger country than it is today—the coin system soon became the method of payment between individuals for goods and services.
The coin system began with Spain’s conquering of this side of the world. In the 16th century, a common practice was the trading of metal coins as legal tender. Mexico wanted to mimic the standards and coins of the European west, and did so with alloy of copper and gold. The weight was equal to that of European coins. This is the beginnings of the peso, as we know it today. Way back then, though, the peso was made with much more precious metals—plundered gold was most likely the normal way to get it.
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Because New Spain was growing very rapidly, there had to be a system in place to keep track of transactions. King Charles I and Queen Juana sent a message to Vice Don Antonia de Mendoza to start the first Mint of Mexico. The first coins were unleashed in 1536. The first coins minted in Mexico were made with a hammer. The first coins were the Charles and Juana coins, as they are known today. They had the names of the royalty stamped on them. The coins were first produced in silver and though hammered, had equal thickness and shape. Later coins were not so pretty in regards to shape as they were hurriedly made to the meet the demands of trading and buying in Asia. Gold started to be minted in 1679, though this practice was considered illegal.
In 1732, the steering wheel press helped mint some of the best coins ever found in Mexican coin history. Philip V was ruling this side of the world. Philip V even wore a wig on these coins, to show his relationship to the age of enlightenment. The coin is famous for it’s two crowned columns and the seas that are flowing between them. The coin reads, “both are one” in Latin. The coins changed soon after with the segregation of Mexico and Spain with Mexico’s independence. Coins during the Independence movement were often hoarded and exported, leaving a great shortage of coins. Near the mines, mints were set up to meet the need for hard currency. There was no longer just one mint, but many spread out across Mexico.
The Morelos Coins soon came in the beginning of the 1800s. These coins, made of copper, could be exchanged for gold or silver equivalents once the revolution was won—as long as the right side won, that is. These coins had no uniform design and no one kept a registry of coin data way back then. In fact, even when silver bars were found in Oaxaca, Morelos minted silver coins, though even these didn’t have a registry. Coin collectors can often only imagine what these coins looked like, though some do survive today. Coins came and went, with variations of old designs. IN 2000 and 2003, Mexico minted several commemorative designs for the millennium. The coins after this date use mixtures and rings of silver and bronze-aluminum. In 2008, five-peso coins were put into circulation to commemorate the Mexican Revolution and the move towards independence so long ago. Mexico’s coin history tells so much in so little words through such decorative pieces.
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US $510.00
