1818 Mo-JJ Mexico Viceroyalty New Spain Ferdinand VII 8 Silver Reales AU PATINA

Description

Obverse
Laureate bust right surrounded by legend
Lettering:
·FERDIN·VII· DEI·GRATIA·
•1817•
Translation:
Fernando 7th by the grace of God
Reverse
Crowned arms shield flanked by pillars
Lettering:
•HISPAN•ET IND•REX•Mo•8R•J•J•
PLVS VLTRA
Translation:
King of Spain and the Indies
Mexico City 8 Reales JJ
Further beyond
Edge
Segmented reeding with dots between reeds
Mexico's Global Currency - the silver peso
The capture of Tenochtitlan marked the beginning of a 300-year colonial period, during which Mexico was known as "New Spain" ruled by a viceroy in the name of the Spanish monarch. Colonial Mexico had key elements to attract Spanish immigrants: (1) dense and politically complex indigenous populations (especially in the central part) that could be compelled to work, and (2) huge mineral wealth, especially major silver deposits in the northern regions Zacatecas and Guanajuato. The Viceroyalty of Peru also had those two important elements, so that New Spain and Peru were the seats of Spanish power and the source of its wealth, until other viceroyalties were created in Spanish South America in the late 18th century.
This wealth made Spain the dominant power in Europe and the envy of England, France, and (after its independence from Spain) the Netherlands. Spain's silver mining and crown mints created high quality coins, the currency of Spanish America, the silver peso or Spanish dollar that became a global currency.
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