The so-called Hearst Chalice at the Los Angeles County Museum of Art (LACMA) is widely regarded as one the most significant works of Mexican silversmithing from the sixteenth century. Its style, technique, and above all its unique combination of materials—including precious metals, feathers, wood carvings, and rock crystal—have led scholars to describe it as the perfect fusion of European and Ancient American (or pre-Columbian) traditions. Surprisingly, despite the consensus about the chalice’s importance, the cultural and artistic conditions that led to the creation of this singular object have not been thoroughly analyzed. By closely examining the different material components of the imposing artifact—which though carefully assembled also stand as independent units—we can better understand its uniqueness and symbolic potential. This essay espouses a synoptic approach by considering a range of agencies, perspectives, and sources—documentary and material—to restore the “Hearst” Chalice to its rightful context, without aspiring to a totalizing view of the past or a definitive decoding of its system of meaning. Categorizing its form and function as purely Indigenous and European poses a distinct set of challenges and limits its hermeneutic possibilities. The work—like many others created during the volatile period following the fall of Tenochtitlan—encodes a new visual language that reveals the highly subtle process of negotiation of these two cultures in a particular space and time. Moving away from the reductive concept of syncretism, the essay offers a fresh look at this impressive contact period work and its shifting values over time.