-FIRST MEXICAN EMPIRE-

After the recognition of the independence of New Spain by the Treaty of Cordoba in 1821, the winners agreed to follow the Plan of Iguala and to govern interimly using a Congress and a Regency, which would choose the new monarch. Hurriedly, the congressmen elected Agustín Iturbide, chief of the Three Guarantees Army and the Regency. He was given the title of Emperor of Mexico in 1822.

That same year the Spanish real was unofficialised, coining the new Mexican real instead.