1877 Republica Mexicana 8 Reales Vintage / Antique Coin

1877 Republica Mexicana Vintage / Antique Coin

This vintage coin is very rare and special because got several stamped on it.

Coin Material: Silver

Year minted :1877

Value: Mexican 8 Reales

Coin description:

FRONT: top is script reading - 'REPUBLICA MEXICANA' middle is a picture - Bird holding a snake in it's mouth perched on a cactus...there's also leafs under the that, going along the edge of the coin.

BACK: this picture looks like a rock boulder with a sunburst behind it...on the rock boulder is a small star with the word 'LIBERTAD'. Below the picture is a series of letters and numbers that read - *8R-Go-1877-F.R.10Ds20Gs-

Price:RM680

Mexican peso info

The peso (sign: $; code: MXN) is the currency of Mexico. The peso was the first currency in the world to use the "$" sign, which the United States dollar later adopted for its own use when the United States adopted the peso as currency during a period before adopting the dollar.The peso is the 12th most traded currency in the world and by far the most traded currency in Latin America and third most traded in all the Americas.The current ISO 4217 code for the peso is MXN; prior to the 1993 revaluation (see below), the code MXP was used. The peso is subdivided into 100 centavos, represented by "¢". The name was originally used in reference to pesos oro (gold weights) or pesos plata (silver weights). The literal English translation of the Spanish word peso is weight. As of March 11, 2010, the peso's exchange rate was 12.288 per Canadian dollar, 17.245 per Euro, and 12.614 per U.S. dollar.

History First peso

The peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas and Asia from the height of the Spanish Empire until the early 19th century. After Mexico gained its independence in 1821, the new government continued the Spanish monetary system of 16 silver reales = 1 gold escudo, with the peso of 8 reales the largest silver coin. Paper money was also issued, denominated in pesos.
In 1863, the first issue was made of coins denominated in centavos, worth one hundredth of the peso. This was followed in 1866 by coins denominated "one peso". Coins denominated in reales continued to be issued until 1897. In 1905, the gold content of the peso was reduced by 49.3% but the silver content of the peso remained initially unchanged (subsidiary coins were debased). However, from 1918 onward, the weight and fineness of all the silver coins declined, until 1977, when the last silver 100-peso coins were minted.