This was Chile’s national royal mint when it opened in 1805. La Moneda means “the coin.” Forty years later, the building was converted into the president’s residence. Today, it serves as the offices for the president and several cabinet ministries. The grassy area is called Plaza de la Constitucíon. The commons was added during the 1930s. The Neoclassical style of Palacio de La Moneda was designed by Joaquín Toesca. He was a prolific architect who served the Spaniards in Santiago during the second half of the 18th century.