Value Guide of Collectible Mexican Coin
Various Coins Issued by the Viceroyalty of New Spain
During the beginning phases of the Spanish conquering of the Aztec Empire, which began in 1521, currency was very rare. As a result, local mediums of trade such as cotton blankets, cocoa, and jade were used in its place. Shortly after the colony had become officially solidified as a viceroyalty in 1535, the crown instructed that a new mint be founded in Mexico City. The first "Mexican" coins were struck in April 1536, having the names of Queen Joanna I as well as her son Carlos. These coins were the first to bear the name of Mexico. Silver coins could be sliced into denominations ranging from half a real to four reals so that they could be used to make change.
One of the most well-known pieces from this early era is the Rincon 8 Reales, which was manufactured in the year 1538. Although it was formerly thought to be nothing more than a piece of pure speculation, three instances of it were found in the shipwreck of the Golden Fleece in the year 1990.
The quantity of precious metals that entered Bolivia in 1545, as well as the expanding needs of the Spanish Empire, contributed to a rapid fall in the quality of the colonial coinage. Beginning in the reign of Philip II from 1556-1598, new pieces were coined for efficiency rather than eye-appeal. These new pieces are known as Cobs because of their rough look, they had the correct quantity of silver despite their irregular form and thickness. It wasn't until the second reign of Philip V from 1724-1746 that the coinage of the viceroyalty was standardized and converted into the primary international currency.
Coins from the Mexican War of Independence.
During the reign of Charles IV (1788-1808) & Ferdinand VII (March-May 1808), the Spanish Empire saw a severe decline in comparison to other European nations. This decline continued until the end of Ferdinand VII's reign in 1808. After centuries of authoritarian rule by the Spanish, as well as the ideologies of both the American and French Revolutions, insurgents in Mexico were encouraged to launch an official rebellion after the news of Charles' and Ferdinand's deposition by Napoleon in 1808.
While the royalists proceeded in producing 8 Reales in the name of Ferdinand VII along with their own copper pieces, the majority of the early insurgency coinage reflected the designs of José Mara Morelos, who was the leader of the insurgent movement. The copper pieces that were created under Morelos were basically promises of payment, and after the uprising was successful, they could be redeemed for their full face value in gold or silver. As a result, these copper pieces became the first fiduciaries currency that was used in Mexico. Royalists and insurgents both continued to counterstamp the coins that were already in circulation. This was done for the purpose of restoring and controlling the stock of currency, as well as increasing the amount of rare coinage even further.
Coins from the Empire of Iturbide
Agustin de Iturbide, who had served as a royalist officer in the past, emerged as Morelos' most formidable adversary. After having served the royalist cause for ten years, Iturbide presented the "Plan of Iguala" in 1821, outlining the three guiding principles that were intended to direct the insurrection. These ideas were union independence, and religion. Iturbide was responsible for the negotiations of a peace pact that came to be known as the Treaty of Cordoba. This treaty created an assurance that Mexico would be overseen by a fully independent monarchy that was descended from the Bourbon dynasty. In the event that Ferdinand VII declined the offer to become emperor, another acceptable king from Europe was going to be selected. Ferdinand VII was to be given the opportunity to rule as emperor. During this time, Iturbide was voted into the position of President of the Regency.
Both the Plan of Iguala and the Treaty of Cordoba were not recognized by the Spanish crown, which was a decision that, along with the restoration of Ferdinand VII, discouraged any European royal house from attempting to make a claim to the throne of Mexico. The Spanish crown had regained some measure of its power after Napoleon's defeat, and as a result, it refused to recognize both of these agreements. As a direct result of this, Iturbide became known as the Constitutional Emperor of Mexico. On the obverse of the currency that was used during the First Mexican Empire was a portrait of the new emperor that was surrounded by his titles.
The First Coins Issued by the Republic of Mexico
The Iturbidean Empire did not last for very long. Agustin de Iturbide, who was facing allegations of corruption and cruelty, decided to step down as president rather than risk a civil conflict against the troops of Santa Anna as well as the insurgent hero Guadalupe Victoria. After the restored Constituent Congress made the decision to formally repeal the Plan of Iguala and the Treaty of Cordoba in 1822, the two armies signed the Plan of Casa Mata, which dismantled the monarchy and replaced it with a republic. Guadalupe was elected president of the republic in 1824.
Mexico Coins from the Second Empire: The Empire of Maximilian
Conflicts between Guadalupe and Santa Anna caused a rift in the political landscape of Mexico, which resulted in the government being divided amongst conservatives in Mexico City & liberals in Veracruz. This occurred despite the fact that initial signs indicated that Guadalupe's regime would be stable. Napoleon III of France made the suggestion to Ferdinand Maximilian of Hapsburg that the monarchy be reinstated in Mexico in the hopes of gaining access to South American markets. In 1863, a notable assembly proclaimed a hereditary monarchy, naming Maximilian he was the first emperor of the new regime. Even though President Juarez had initially advocated switching to a decimal style currency system in 1861, it wasn't until Maximilian's accession that the initial minting of decimalized money was ordered, and the first Peso coins were minted. President Juarez had also initially recommended switching to a decimal system. The bust of the new Emperor Maximilian is featured on the precious metal issues of his coin, which are notable for their relative elegance and uncomplicated design.
Coins from the Mexican Revolution and the Restored Second Republic
In 1866, in the face of pressure from both Mexico and the United States operating under the cover of the Monroe Doctrine, Napoleon III gave the order for French forces to withdraw from Mexico. Maximilian was taken captive and put to death in 1867 when he disobeyed the request of the French monarch to leave his soldiers behind and depart the country. Benito Juárez, who had been restored to the role of President along with the Second Republic, issued an order to make coins that once again contained symbols emblematic of the country's position as a federal republic. These symbols included the eagle, the sun, and the moon. The decimal system that Maximilian had implemented remained in place on Juárez's new issuance, and gold Escudos and 8 Reales sporting the Cap and Rays design continued to be struck during this time as well.
Mexicanos Coins from Estados Unidos
somewhere around the year 1892, there was an effort made to restrict coin manufacture to only the Mexico City mint. Additional monetary changes were enacted in the years that followed; in 1897, the minting of 8 Real coins was terminated for good, and in 1905, it was mandated that the phrase "ESTADOS UNIDOS MEXICANOS" (which translates to "United Mexican States") to be struck on all coins. In 1910, President Porfirio Diaz also gave the order for the first Mexican commemorative coins to be produced in honor of the 100th anniversary of the country's independence war.
Coins of the New Mexico Currency
Ever since the end of the Mexican Revolution in 1917, coinage has featured a broad array of designs and subjects. Despite this, the fundamental motif of the republican eagle perched on a cacti and the Estados Unidos legend have remained relatively consistent.