20 Centavos

These issues fall under the "Caballito" peso family's smaller denominations, struck at multiple Mexican mints simultaneously — Chihuahua, Culiacán, Guanajuato, Zacatecas, and Mexico City among them — each applying its own assayer initials. The mint mark and assayer pairing matters considerably here; Chihuahua pieces from this window are notably scarcer than their Mexico City counterparts and command meaningful premiums even in circulated grades.

Mexico's silver coinage of this period was under sustained pressure from the global collapse in silver prices during the 1890s, which ultimately forced the 1905 monetary reform that debased the standard and ended this type's production.