Watch List notes:

MEXICO

Maximilian I, 1864-1867. 20 Pesos 1866 Mo, Mexico. Obv. Bearded head of Maximilian right. Rev. Crowned, wreathed shield of Mexico's eagle, supported by griffins, crossed scepter and sword. Fr. 62; KM 389. AU 33.77 g.

XF
Maximilian was the brother of Emperor Franz Joseph of Austria, and Archduke in his own right. He was a well-intentioned individual who was ill-prepared for the rough and tumble politics of Mexico. The liberal forces had just won a decisive and bloody war in Mexico and were being ruled by Benito Juarez. The conservatives looked for a symbolic leader that would support their cause and overthrow Juarez. Maximilian was chosen. He foolishly believed he was being supported by the will of the people. In actuality, he was hated by the people as a royalist foreigner, and he was despised by the conservatives for not being conservative enough. In 1867 he was captured and executed by Juarez's soldiers.