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The local economy at San Felipe de Austin operated largely on credit. Scarce silver coins mined and minted in the interior of Mexico were the preferred medium of exchange. The eight coins often were cut to make smaller denominations like a half-dollar, quarters, or even one-eighth pieces or “bits” that were worth 12 1/2 cents. The risk of possible counterfeiting often caused merchants to reject this “cut money.” The local economy merged with national and international trade by a network of roads