Mava, an unincorporated territorial entity of Atitlan uses only one official legal tender currency, which is the Atitlanese peso. The Atitlanese peso has circulated in the islands since their annexation in the early eighteenth century, with plans for a separate Mavean currency pegged to the peso never coming to fruition.
Beginning in 1988, the Mava Council has issued special commemorative coins, which are minted in Atitlan and sold to collectors. These coins are often commissioned by companies and individuals, with the Mava Council receiving payment and part of the profits of any sale for the right to use the name "Mava." The coins are an important part of the Mavean economy, providing both capital and name recognition, encouraging tourism and investment.
Coins issued by the Mava Council do not constitute a true currency as they are not used as a means of exchange. Although they may lawfully be used as tender, they are intended as numismatic items and are rarely found in circulation. As such, the name "Mava peso" is not the name of a currency but rather a collective name for all Atitlanese peso coins issued under the name of Mava.
The first Mavean coins were issued in 1988 under contract from the Museo Nacional de Historia Militar, releasing a series of coins to commemorate the 125th anniversary of the Five Hundred Days' War (1863-1864).
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