Another example of the coinage of the early colonial merchants. Coins from Mexico were coveted because of their silver purity.
Coins of Mexican Mints in Early America: A Young Numismatist’s Guide
In the early days of America, the currency system was not as organized as it is today. The United States had just gained independence, and its own coinage was in limited supply. As a result, coins from other countries circulated widely, and Mexican coins played a significant role in everyday transactions. These coins, minted in Mexico under Spanish rule and later during its independence, offer a fascinating glimpse into the economic and cultural ties of early America.
The Importance of Mexican Coins
In the 18th and early 19th centuries, Spanish colonial mints in Mexico produced a large volume of coins, many of which became essential in global trade. The Spanish dollar, or "piece of eight," was particularly influential. Its consistent silver content and weight made it a trusted form of currency worldwide, including in the newly formed United States. When the U.S. Constitution was adopted in 1789, it defined the dollar using the Spanish dollar as a benchmark, further solidifying its importance.
Mexican Mint Locations and Their Coins
The primary mint in Mexico during the colonial period was the Casa de Moneda in Mexico City, established in 1535. Coins from this mint bore the mark “Mo”, signifying their origin. These coins included denominations such as the real (a smaller silver coin) and the peso (commonly referred to as the Spanish dollar).
After Mexico gained independence from Spain in 1821, the mint continued producing coins but adapted its designs to reflect its sovereignty. Mexican coins from this era typically featured the eagle and snake emblem on one side and various inscriptions and denominations on the other.
The Role of Mexican Coins in America
Mexican silver coins, particularly the pesos and reales, were widely circulated in the United States during the late 18th and early 19th centuries. They were so prevalent that they were often used alongside state-issued and foreign currencies. Many merchants and banks accepted them due to their reliable silver content.
In fact, these coins were legal tender in the U.S. until the mid-19th century. The Coinage Act of 1857 finally ended the use of foreign coins, including Mexican ones, as legal tender. However, by this time, the United States Mint had ramped up production of its own coins, and the need for foreign currency had diminished.
Collecting Mexican Coins
For a young numismatist, collecting Mexican coins offers a rich and rewarding experience. Look for Spanish colonial coins, such as 8 reales from the late 1700s, as well as early Mexican Republic coins from the 1820s and 1830s. Pay attention to their designs, mint marks, and conditions, as these factors greatly influence their value and historical significance.
Studying these coins provides insight into the economic history of early America and its connections with Mexico. They also serve as a tangible reminder of how interconnected the world’s economies were, even centuries ago.
So, whether you’re starting a new collection or exploring the history of money, Mexican coins from early America are a treasure trove of history waiting to be discovered!
