Mexico 1882/83 CN centavos

[jlueke]

Hey, does anyone have any ideas on why Mexico issued some copper nickel small change in 1882/83 (which isn't that odd) but then abandoned that effort and reverted back to 5 cent silver, 1 cent copper, and no 2 cent pieces. What wrong with that experiment?

[ccg]

I don't know, but my guess is that Mexicans may have an aversion to nickel coinage - consider the gradual reduction in silver content of the 1 peso coin 1910s-60s while maintaining it as a large sized silver coin.

 

In China, where Mexican silver coins commonly circulated until the turn of the century, nickel coinage was pretty much rejected by the masses when it was introduced (as a 5c) in Kwangtung and Yunnan.

[jlueke]

You have to separate the merchant traders who preferred hard money and the working poor who barely had access to the monetary economy in any form. Small change didn't exist in much of Mexico nor California for much of the 19th century and that did have an impact on prices. The fact that the Mexican government started to try and address this is interesting. One article I've seen stated that the nickel meant for small change was instead sold to the UK.

[ccg]

Small change didn't exist in much of Mexico nor California for much of the 19th century and that did have an impact on prices.

 

Didn't know that Mexico also didn't have much small change in that era- here in BC the dime/sixpence was the smallest generally circulating coin until the 1880s or so, when the 5 cent started to show up. Pricing, as such, was done so that the minimum purchase was essentially 5c on anything. Change, if demanded, came in the form of stamps.

 

I would think though, that the introduction of the said coins likely occured in Mexico City and area, where the economy was monetized, and the populace have a demand for small change. (assuming that cost of living was less than that in communities along the West Coast from Alaska to Cal.)