Mexican money

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Last seen on: – Crossword – May 20 2020
Wall Street Journal Crossword – May 12 2020 – A Head for Business
The Washington Post Crossword – Mar 18 2020
NY Times Crossword 17 Mar 20, Tuesday

Random information on the term “Mexican money”:

The peso (meaning “weight” in Spanish; peso sign “$”; wrongly mentioned as pieces in some countries) is the monetary unit of several countries in the Americas and the Philippines, that originated in Spain.

The silver peso worth eight reales was also known in English as a Spanish dollar or piece of eight and was a widely used international trade coin from the 16th to 19th centuries.

See also: Spanish dollar, Spanish real

The name peso was given to the 8-real silver coin introduced in 1497, minted at 8​3⁄8 pesos to a Castilian mark (230.0465 grams) of silver 134/144 fine (25.56 g fine silver). It was minted in large quantities after the discovery of silver in Mexico, Peru and Bolivia in the 16th century and immediately became a coin of worldwide importance in international trade between Europe, Asia and North America.

Initially the peso was produced in Spanish Latin America in a rapid and simplified manner by cutting off a lump of silver of proper weight and fineness from the end of a silver bar, which was then flattened out and impressed by a hammer. This resulted in a crude, irregular coin called a cob in English, or a macuquina in Spanish. The Crown was entitled to a fifth of all gold and silver mined, the quinto real (royal fifth), and cobs were a convenient means of handling and accounting for silver. In most cases these cobs were immediately melted down by the recipient. However, some did remain in circulation as currency, and these cobs were ideal candidates for clipping and counterfeiting due to their irregular shape and incomplete design.

Mexican money on Wikipedia