20 Centavos

The 1905 monetary reform that produced this type was a direct response to the collapse of silver's international value — Mexico had operated on a bimetallic standard for decades, but falling silver prices through the 1890s caused the peso to depreciate sharply against gold-standard currencies, crippling foreign trade and government finances. Finance Minister José Yves Limantour pushed through the reform under Díaz, pegging the peso to gold and reducing the silver content of subsidiary coinage. The .800 fineness was a deliberate step down from earlier issues.

Production continued through 1914 despite the Revolution having effectively dismembered the Díaz government three years prior.