1 Peseta Mayagüez

Puerto Rico has never operated a mint and has issued no legal-tender coinage under its own authority since becoming a U.S. territory in 1898. This piece belongs to a wave of privately produced or licensed commemorative issues that emerged in the 2000s invoking pre-American colonial monetary denominations — the peseta being the unit Spain used in Puerto Rico before the island's currency was forcibly converted to U.S. dollars at a punishing exchange rate of 60 cents on the peso following the Treaty of Paris.