Excellent minting, stunning craftsmanship, and beautiful designs make Mexican coin collecting a joyful experience. Collectible Mexican coins have more varieties in style and value than a lot other countries coinage. The peso was initially the name of the eight-real coins issued in Mexico by Spain. After Mexico's independence from Spain in 1821, it continued the Spanish monetary system of 16 silver reales = 1 gold escudo, with the peso of 8 reales the largest silver coin. Mexico has a long, rich history of minting silver and gold coins. Mexican silver coins in denominations of four, three, two, one, and one-half reales were cast.