I've heard that cacao beans were used as a currency in Mesoamerica. Since cacao is an agricultural product, grown in fields, how did this effect the Aztec financial system?

by Xxxn00bpwnR69xxX

Whereas gold and silver are extracted from a limited number of sources with relatively predictable output, cacao beans are an agricultural product that anybody with a field and good enough conditions can grow on their own. This means that the government would have very little control over the money supply- even less so than European governments at the time that can mint their own coins. Additionally, cacao production will inevitably compete with maize and other crops for land area, and a food commodity like cacao likely involves significant demurrage. Did this get in the way of the evolution of the Mesoamerican financial system?

Mictlantecuhtli