2 Maravedis - Carlos I

Among the earliest copper coins struck in the Americas, this issue predates any organized hemispheric monetary system by generations. The Mexico City mint — established by royal decree in 1535 — was primarily tasked with silver production; copper coinage was an afterthought, minted to address the chronic shortage of low-denomination exchange that plagued colonial markets where cacao beans still functioned as small change.

Carlos I here is Carlos V of the Holy Roman Empire, the same monarch managing the Reformation, the Ottoman advance into Europe, and the Aztec aftermath simultaneously. Survival rates for circulated copper from this mint and period are extremely low — the combination of tropical humidity, active use, and negligible intrinsic value meant most were lost or discarded rather than hoarded.