SUD Copper Coin
1812 ・ copper ・ 19th century ・ Army of Morelos
Morelos, leader of the insurgent army fighting in the south, authorized the issuance of copper coins by a decree on July 13, 1811. This currency, inscribed with SUD—"South"—was a copper coin with a face value of up to eight reales, promised to be redeemed later in gold and silver. The army turned not the copper disc itself into currency, but the promise inscribed upon it. What the recipient trusted was not the weight of the copper in their hand, but the future of the insurgent army. This was the moment currency became a promissory note.