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"Peso" was first the name of the very well-known 8 Reales Silver coin minted in Mexico. They were actually issued under the power of Spain, who at this time controlled Mexico. Dubbed Pieces of Eight, or Spanish Dollars, these impressive milled dollars were well-trusted and circulated from the Americas to Asia! These were accepted in the United States as legal tender until the Coinage Act of 1857.
When the Mexican War of Independence ended and Mexico became its own country, the same monetary system was used for a time. Slight changes began to occur, however, and in 1863 the Silver coin was struck as "One Peso.: From 1918 onward however, all denominations of Silver Pesos began to be debased. This finally ended in 1977 when the last 100 Pesos silver coins were struck.
U.S. Paper Money
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Fractional Currency
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