![]() Ferdinand VII was to be given the opportunity to rule as emperor. In the event that Ferdinand VII declined the offer to become emperor, another acceptable king from Europe was going to be selected. This treaty created an assurance that Mexico would be overseen by a fully independent monarchy that was descended from the Bourbon dynasty. Iturbide was responsible for the negotiations of a peace pact that came to be known as the Treaty of Cordoba. These ideas were union independence, and religion. ![]() 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. Coins from the Empire of IturbideĪgustin de Iturbide, who had served as a royalist officer in the past, emerged as Morelos' most formidable adversary. 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. Royalists and insurgents both continued to counterstamp the coins that were already in circulation. As a result, these copper pieces became the first fiduciaries currency that was used in Mexico. 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. 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. 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. This decline continued until the end of Ferdinand VII's reign in 1808. Coins from the Mexican War of Independence.ĭuring 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. 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. 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. Beginning in the reign of Philip II from 1556-1598, new pieces were coined for efficiency rather than eye-appeal. 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. 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. One of the most well-known pieces from this early era is the Rincon 8 Reales, which was manufactured in the year 1538. Silver coins could be sliced into denominations ranging from half a real to four reals so that they could be used to make change. These coins were the first to bear the name of Mexico. The first "Mexican" coins were struck in April 1536, having the names of Queen Joanna I as well as her son Carlos. 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. As a result, local mediums of trade such as cotton blankets, cocoa, and jade were used in its place. Value Guide of Collectible Mexican Coin Various Coins Issued by the Viceroyalty of New Spainĭuring the beginning phases of the Spanish conquering of the Aztec Empire, which began in 1521, currency was very rare.
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