Here’s some Mexican peso trivia to peruse with your morning coffee — or whatever. The peso was originally the name of the eight-real coins issued in Mexico by Spain (pes referred to its weight). These Spanish dollars or pieces of eight were in wide circulation in the Americas and Asia from the height of the Spanish empire until the early 19th century. Did you know that the United States accepted Spanish dollars as legal tender until the Coinage Act of 1857?
By a decree in July 6, 1785, the value of the US dollar was set to closely match the Spanish dollar, both of which were based on the weight of silver in the coins. The peso was the first currency in the world to use the “$” sign as its symbol, which the US dollar later adopted for its use.
The Mexican peso is the world’s 12th most traded currency, the most traded currency in Latin America, and the 3rd most traded in all the Americas.
All of this peso business came up when we were looking at some coins to pay a restaurant bill. All had Estados Unidos Mexicanos and the national coat of arms on the obverse, but the reverse was different for each denomination. The $10 reverse depicts the center imagery of the Aztec Sun Stone, the god Tonatiuh with the fire mask. The $1, $2, and $5 show different rings of the Stone. Check it out!
