Login

user_6683's Blog

20 Oct 2015

History of the peso (Mexico)

| user_6683

The Mexican Peso is one of the oldest currencies in North America. Its original design follows from the Spanish silver dollar and original eight pieces. It was an official tender in both the U.S.A 1857 and Canada 1954 . To be precise the U.S.A until 1857 and Canada until 1854. The Mexican peso is the descendant of the Original eight piece that the Spanish government issued in Mexico and continued after gaining their independence. At one time the Spanish dollar was an acceptable mode of payment in places as remote as China. The Mexican peso continued to be the most stable and safe currency. So much so, that the Mexican Peso inspired the American Dollar’s design. Later the Mexican government changed the value of one peso to one hundred centavo

1863, the first centavo coins were issued; a centavo was one-hundredth of a Peso. Another series of 1 peso coins was issued the following year until 1897.1905, the value of golden Peso was reduced to 49.3%, but the silver Peso remained.After the Oil Crisis of the 1970s, Mexico faced many years of inflation and debt defaults, leading to the replacement of the currency with the Nuevo Peso. The Nuevo Peso was valued at 1000 Mexican Pesos.

Denominations

  • Bills: $20, $50, $100, $200, $500, $1,000
  • Coins: 5¢, 10¢, 20¢, 50¢. $1, $2, $5, $10, $20, $50, $100

Comments

CoinLady

Level 6

Interesting. I believe the Mexico City Mint is oldest in the New World.

Kepi

Level 6

Great blog! Thanks for all the info!

user_7180

Level 5

Thanks for the history lesson!

Longstrider

Level 6

Nice presentation. Thanks!

Kellen

Level 5

I did not know all these-thanks! How soon after Mexico's founding did they start making coins?

Tags
    No tags are attached to this post.
We use cookies to provide users the best experience on our website. If you continue without changing your cookie settings, we'll assume that you agree to receive all cookies on money.org. You may disable cookies at any time using your internet browser configuration. By continuing to use this website, you agree to our privacy policy and terms of use. To learn more about how we use cookies and to review our privacy policy, click here.