Coamo is a small town nestled in a valley about 10 miles east of Ponce. Coamo is known as "La Villa de San Blas de Illescas".

Coamo was founded on July 15, 1570 by Cristóbal y Blas de Illescas, making it one of the older towns on the island after San Juan and San German. The town’s original name was San Blas de Illescas, later changed to Coamo, named after a local Indian chief Coamex or Coamey.

By 1582, there were twenty families living in Coamo, in the same area where the Tainos had had their village of Guayama.

Coamo became officially a town in 1616, and given the title of "Villa" by Spanish Royal Decree in 1778. Coamo is famous for its thermal springs. They are noted for their healing and therapeutic waters. Long before the Spaniards arrived on the island, the Indians bathed in these waters, and according to legend, this was the fountain of youth that the Indians spoke to Ponce de León about which he mistakenly went to search for in Florida, and unfortunately for him the search would end in his death.

This coin belongs to the series of “Pesetas Boricua” of the island of Puerto Rico, very popular in the Caribbean island.