The “peso” is the name of the 8-real coins issued in Mexico by Spain. Peso was 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 paper money issued and denominated in pesos. In 1863, Mexico`s centavos, worth one hundredth of the peso. Thus centavos were changed by coins denominated “one peso” in 1866. In 1905, the gold content of the peso was reduced by 49.3% but the silver content of the …