Editing Mexican peso (section)

==={{anchor|MXP}}Origin===
The first Mexican mint to produce pesos was established in 1535.<ref>{{Cite journal |last=Andrew |first=A. Piatt |date=1904 |title=The End of the Mexican Dollar |url=https://www.jstor.org/stable/1884074 |journal=The Quarterly Journal of Economics |volume=18 |issue=3 |pages=321–356 |doi=10.2307/1884074 |jstor=1884074 |issn=0033-5533}}</ref>

While the United States divided their dollar into 100 cents early on from 1793, post-independence Mexico retained the peso of 8 reales until 1863 when the [[Second Mexican Empire]] under [[Maximilian I of Mexico|Emperor Maximillan]] commenced the minting of pesos divided into 100 centavos. The [[Restored Republic (Mexico)|restored Mexican republic]] under [[Benito Juárez]] and [[Porfirio Díaz]] continued the minting of centavo coins in base metal or silver, as well as gold coins in pesos, but it had to revert the silver 1-peso coin to the old eight reales "cap-and-ray design" from 1873 to 1897 after East Asian merchants rejected or discounted the newly designed peso coins.

The post-independence silver peso contained 27.07 grams of 90.3% fine silver (24.44 g fine) while the gold peso or half escudo contained 1.6915 grams of 87.5% fine gold (1.48&nbsp;g fine). After most of Europe switched to the [[gold standard]] in the 1870s the gold peso substantially rose in value against the silver peso, until it became 2 silver pesos to a gold peso or a gold peso dollar by 1900. In 1905 the peso was solely defined as 0.75&nbsp;g fine gold.

From 1918 onward the weight and fineness of all the silver coins declined, until 1979, when the last silver 100-peso coins were minted. The [[U.S. dollar]] was worth 2.00 silver pesos from 1905 to 1929, rising afterward until it stabilized at 12.50 pesos from 1954 to 1976.