1 Centavo

Peru's 1863 decimal reform replaced the old real system with a new currency based on the peso of 10 dineros, making this centavo among the first coins issued under that framework. The reform was partly driven by pressure to rationalize trade with foreign merchants who found the colonial-era denominations confusing. Copper-nickel was an unusual material choice for South American minor coinage at the time — most regional mints defaulted to bronze — and the alloy was sourced through contracts with European suppliers rather than processed domestically.