Mexican Coins - depictions of an ancient nation

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As well as being part of its currency, Mexican coins provide an insight into the rich history of this ancient nation. When the Spanish arrived in Mexico, indigenous people used items like blankets, hatchets and beads for commercial exchanges.

Mexican Coins produced by the oldest mint in the world

A mint was established in Mexico City in 1536 by Spanish colonialists - it is the oldest mint in the world and is still producing coins. The current Mexican mint (called La Casa Moneda de México) produces coins and medals for sale and export to a variety of countries, but in the 16th century it solely produced coins to be shipped back to Spain.

After the establishment of the Mexican mint production of coinage was subject solely to Spanish policy. Real coins were produced as rudimentary cobs in denominations of 4, 3, 2, 1 ½ and ¼. Not all indigenous Americans adapted well to the use of coins, which resulted in the discontinuance of the 3-real coin – now rare and quite valuable.

A Spanish royal warrant in 1675 decreed the Mexico City mint authorized to produce gold coins, but this didn’t begin until 1679. Later elaborate round coins, or pillar dollars, were produced from 1732 onwards during the reign of King Felipe V.

The Mexican War of Independence in 1810 meant the mining silver and gold, and consequently the minting of coins, became very difficult. Bringing precious metals to the country’s sole mint in Mexico City was hindered by rebels and bandits along the roads. This resulted in the establishment of several provisional Mexican mints, and as each mint used its own models for coins a wide variety entered the Mexican currency. Some of these coins have subsequently become very valuable depending on their scarcity.

Mexican currency established in 1864

Until full Mexican independence in 1821 all coins produced were Spanish and Mexico had no currency of its own. This changed only when a decimal system based on the peso (literally ‘weight’) was introduced in 1864. Mexican coins in the forms of pesos and centavos (hundredths of pesos) were established as well as peso notes.

The Aztec empire was famous for its gold, and throughout the years Mexican coins have depicted the country’s indigenous past. The national seal, an eagle with a snake in its beak perched on a cactus, is obtained from an ancient Aztec symbol for the city of Tenochtitlan, which the Spanish obliterated when they built Mexico City. Series of coins made available to collectors throughout the 1990s depicted the achievements and artefacts relevant to various indigenous Mexican peoples – the Aztec, Maya, Olmec, Teotihuacan, Toltec and Totanac.

Over the course of the Mexican Revolution in the early 20th century armed forces were compelled to produce their own coins. This resulted in Mexican coins depicting a wide range of revolutionary issues.

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