This is a genuine Spanish silver coin minted in Mexico City during the rule of Charles I and Johanna “The Mad”. Coins struck during this time in this newly discovered Spanish territory are among the first coins minted in the New World. The obverse of the coin displays the crowned heraldic shield of Leon and Castile. The shield is divided into four quadrants with a castle in the upper left and lower right quadrants and a lion in the lower left and upper right; at the base of the shield is a pomegranate. On either side of the shield is the mintmark (M for Mexico). The obverse legend has a variation of, CAROLVS ET IOHANA REGES (Charles and Johanna rulers). The full legend is on the largest denomination coin while it is more sharply abbreviated as the size and denomination of the coins in the series decrease.
The reverse of the coin shows two crowned columns representing the Pillars of Hercules placed in water, representing their actual location at the Straits of Gibraltar. This image symbolized the ocean passage from the Old World to the New. Between the columns is a banner with the motto PLUS ULTRA, which translates as “more beyond”, alluding to the Spanish discovery and conquest of the New World. Of course, on smaller denomination coins in the series, as much of the legend as would fit was added, divided by the columns. Either the use of dots, in this case one dot, or a number, designates the denomination of the coin. The legend on the reverse of these first coins continued the obverse legend with some form of, HISPANIARVM ET INDIARVM (of the Spains and the Indies), again abbreviated depending on available room based on the size of the denomination. The use of the plural for Spain refers to the various kingdoms within what we now call Spain.
