After the discontinuation of reales in 1898, these big, short-lived silver pesos were introduced. The new peso still had the same silver content (more than a U.S. silver dollar!) and dimesions as the eight reales coin it replaced. The Mexican coat of arms is displayed on the obverse of the coin. On its reverse, the bold Cap and Rays design adopted the Phrygian cap, a symbol of liberty used on many early U.S. coins. Sharply detailed Extra Fine quality. Our choice of date.