4 Reales

Honduras declared independence from the Mexican Empire in mid-1823, and this issue is among the first struck under the newly formed Central American Federation — coins produced in a country that had existed for months, using infrastructure inherited from the colonial mint at Tegucigalpa. The federation itself would collapse within two decades, making early Honduran issues politically short-lived almost by design.

KM#16 is notoriously poorly struck for the type, a product of inadequate equipment and disrupted supply chains in the immediate post-independence period.