Among popular bullion gold coins on the market today, Some Mexican gold coins may have the longest history.
The Mexican Golden Pesos, better known as the 50 Pesos, were first issued in 1921 as the centennial gold coins to commemorate the 100th anniversary of Mexico’s War of Independence. The full history of Mexican gold coinage dates back to as early as 1566, when the Escudos, Mexico’s first ever gold coins were minted still under the Spanish rule.
Today, the 50 Pesos are still the most easily obtainable gold coins, comparing to Mexico’s two other more recent gold coins, the Onza and the Libertad, as they were minted in great numbers. Their alleged last issue was in 1947 but many re-strikes have been produced with that date since.
Besides, there were over two millions of such coins produced between 1945 and 1946. Moreover, some investors favor the 50 Pesos due to their lower premium, especially given that the 50 Pesos are over one ounce in weight, 1.2057 troy ounce to be exact, while the most weight for a typical gold coin is only one ounce.
The 50 Pesos have a gold purity level of 0.900 and contain copper of 10 percent. The coin’s gross weight is a high 1.34oz, leaving the actual gold content still weighing over 1.2 ounce, which must be borne in mind when buying these coins. 50 is also the face value of the gold coin, struck along the gold weight (in gram), the mint date, and the legend date of 1821, the year of Mexico’s independence.
The most recent Mexican bullion gold coins, the gold Libertad, are made from .999 fine gold and in five weight denominations: 1/20, 1/10, 1/4, 1/2, and 1 ounce. These coins were produced from 1991 onwards.
The other modern Mexican bullion gold coins were from the 1980s and are commonly referred to as the Onzas, whose design was later adopted by the Libertad, making the two coins look exactly the same on both the obverse and the reverse.
The only difference is that the Onzas were still made from .900 gold, just like the old 50 Pesos. Therefore, in order to carry the same gold content in weight, the Onzas are made heavier. For example, the one-ounce Libertad weighs 31.1g, while the one-ounce Onza weighs 34.5g. Both coins carry no face value and thus do not serve as legal tender in circulation.
To buy Mexican gold coins, compare multiple gold bullion coin dealers and choose one that is reputable and has a history of satisfied clients. Dealers that sell popular American and Canadian gold coins are likely to carry Mexican gold coins as well.
Learn more about the Mexican 50 Pesos Gold Coin…
Learn more about the Mexican Libertad Gold Coin…
Learn more about the Mexican Onza Gold Coin…