Obverse
Description:
Chilpanzingo A, LVA countermark.
Reverse
Description:
Host coin remnants.
Edge
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1805 | TH | — |
Historical background
In 1805, the currency situation in the Viceroyalty of New Spain (modern-day Mexico) was complex and strained, operating within the broader framework of the Spanish Empire's mercantilist system. The primary circulating coin was the silver real, with eight reales making the famous "piece of eight" or peso. These coins, minted from the immense silver output of mines like Zacatecas and Guanajuato, were renowned for their purity and were a de facto global currency. However, the system was not uniform; alongside these official coins circulated a bewildering variety of tlacos—token currency issued by merchants, haciendas, and even municipalities—which were often of dubious value and caused significant local confusion and distrust.
The financial strain was exacerbated by the empire's military engagements, particularly Spain's involvement in the European Napoleonic Wars and its ongoing conflicts with Britain. The Crown demanded substantial remesas (remittances) of silver from New Spain to fund its war efforts, draining liquid capital from the colony. This, combined with a royal decree in 1804 known as the Consolidation of Valuable Causes, which forced the confiscation of church assets and loans, created a severe credit crunch. The sudden withdrawal of capital from the ecclesiastical lending system paralyzed agriculture and business, leading to economic contraction and widespread resentment among the elite and commoners alike.
Thus, while the Mexican mint physically produced sound and valuable currency, the broader monetary environment in 1805 was one of underlying fragility. The extraction of silver for Spain, the credit crisis triggered by the Consolidation, and the chaotic circulation of unofficial tokens all created economic pressures that weakened colonial authority. These financial discontentments, felt across social classes, became one of the significant, though often less highlighted, factors contributing to the unrest that would erupt into the Mexican War of Independence just five years later.
The financial strain was exacerbated by the empire's military engagements, particularly Spain's involvement in the European Napoleonic Wars and its ongoing conflicts with Britain. The Crown demanded substantial remesas (remittances) of silver from New Spain to fund its war efforts, draining liquid capital from the colony. This, combined with a royal decree in 1804 known as the Consolidation of Valuable Causes, which forced the confiscation of church assets and loans, created a severe credit crunch. The sudden withdrawal of capital from the ecclesiastical lending system paralyzed agriculture and business, leading to economic contraction and widespread resentment among the elite and commoners alike.
Thus, while the Mexican mint physically produced sound and valuable currency, the broader monetary environment in 1805 was one of underlying fragility. The extraction of silver for Spain, the credit crisis triggered by the Consolidation, and the chaotic circulation of unofficial tokens all created economic pressures that weakened colonial authority. These financial discontentments, felt across social classes, became one of the significant, though often less highlighted, factors contributing to the unrest that would erupt into the Mexican War of Independence just five years later.
✨ Legendary