Find out the history of Mexican Peso gold coins and more below:
About Mexican Peso Gold Coins
Mexico is located to the south of the continental United States. In the 1500s the Spanish conquered Mexico after a long history as the home civilizations, including the Mayan & Aztec people. The 1917 Constitution brought in the country’s current political system.
The Mexican peso has been in circulation since 1863. It originated with the Spanish Dollar and is still in use today.
“The Largest Bullion Coin“
The best-known La Casa de Moneda de Mexico, or Mexico Mint, created the world’s largest bullion coin. It proved to be the 50 pesos gold coin. Aside from its face value, however, this rare coin bears little resemblance to its bank note counterpart, the 50 peso note. It resulted in the award for 2021 Bank Note of the Year.
The size is 20% larger than the comparable American Gold Eagle coin. This exceptional coin is an efficient way to add significant gold to your holdings with a single-piece purchase.
What is La Casa de Moneda de Mexico?
The Mexican Federal Government’s Casa de Moneda de México (OM for its mint mark) is a centralized body that reports to the Ministry of Finance and Public Credit.
It is in charge of minting the country’s legal tender coins in accordance with their characteristics and denominations.
Decrees of the Union Congress and minting orders of the Bank of Mexico established it in 1535. It is the oldest city in America.
Process of Mint for making coins
The National Museum of World Cultures (MNCM) is a museum in Mexico City devoted to both historical and contemporary world cultures.
It is situated in a structure from the Colonial era that was once the coin mint.
The location of Moctezuma’s “New Homes” was there before this.
Once the mint was relocated to Apartado Street in 1848, the structure saw a number of uses before being assigned its current use in 1966.
What is the ‘MINT’ with respect to coins?
When the coins are forming in industrial settings it is ‘mints’. The Arabic term Sikka, which means the currency and die, is the source of the word mint.
History and Background of Mexican Peso Gold Coins
The Mexico City Mint, which is the oldest mint in North America, created the Mexican Gold Peso coin. In 1921, the original print of the coin came out, on the 100th anniversary of Mexico’s independence from Spain.
The Gold Peso was the purest gold coin, Emilio del Moral was responsible for creating these stunning and significant pieces of art.
The Mexican Mint first issued them from 1921 to 1931, then again from 1943 to 1972 as a result of their enormous popularity.
In 1535, Spanish Viceroy Antonio de Mendoza, La Casa de Moneda de Mexico minted the Mexican coins.
In the Americas, this is still the earliest and oldest mint facility and establishment. Important emblems from the Colonial and Mesoamerican centuries of the nation are visible on magnificent 50 Peso Gold coins.
The Mexican Mint resumed making these centenario gold coins in 1973 after a seven-year gap due to their popularity.
Physical Characteristics of Mexican Peso Gold Coins
Mexico Peso Gold Coins come in a range of denominations. They consist of:
50 pesos at 1.2057 troy ounces
20 pesos at .4823 troy ounces
10 pesos at .2411 troy ounces
5 pesos at .1205 troy ounces
2.5 pesos at .0602 troy ounces
two pesos at .0482 troy ounces
Design of Coin
THE FRONT SIDE OF THE COIN
The front side of all coins is ” the obverse”. The obverse of the 50 Pesos Gold coin highlights the image of Winged Victory, the beloved angel of independence, holding a laurel wreath in her right hand and the broken chains of colonialism within her left hand.
In the background, two important Mexican volcanoes rise, Popocatepetl and Iztaccihautl. In the lower left, the year 1821 is inscribed as the year of the independence of Mexico. The actual mintage year is displayed prominently on the right.
THE BACK SIDE OF THE COIN
The “reverse” of a coin is useful for its description. The renowned Mexican Coat of Arms is seen on the reverse of the coin. It symbolizes an eagle perched on a cactus holding a snake in its beak.
These coins were produced in the second series from 1949 to 1972 in close to four million pieces. The year 1947 struck a vast majority of them. These are “restrikes.”
The premiums on earlier 50 Peso coins are higher than those on current restrikes. Coins produced between 1921 and 1931 have a bigger premium over gold values.
Specifications of the coin
Their specifications are as follows:
Mass: 1.2057 troy oz
Diameter: 37.1 mm
Thickness: 2.69 mm
Content: 1.085 troy oz. actual gold content
Purity: 90.0% gold, 10% copper alloy
Pricing of Mexican Peso Gold Coins
Gold Mexican peso coins were issued as legal money, in the Republic of Mexico. They had face values ranging from two pesos to as much as 50 pesos.
These coins can be used to make regular transactions in Mexico, no one would dare to exchange them for such a low price in reality.
The reason is that these stunning bullion coins have a much higher intrinsic worth than their limited face value would imply.
The spot price of gold determines the actual worth of these magnificent coins, with the essential supply and demand levels playing a secondary role.
The intrinsic value declares the market value of these coins. It also determines the worth of retirement and investment that contain them.
In comparison to spot gold prices, these coins have a very significant premium. Their well-liked collectible qualities are the basis for this rationale. The fees associated with mining these coins and putting them into circulation also help to explain the premium.
Can IRA Accounts Reserve Mexican Peso Gold Coins?
The IRS does not permit the addition of these stunning, bigger gold coins in a precious metals IRA, despite the fact that they are magnificent gold pieces.
Due to their single gold bar’s fineness of.900, which falls short of the IRS’s.995 minimum level, they fall short on the metal purity test.
Due to their excessive premium above spot gold prices, tax authorities additionally classify these coins as “collectibles”
These coins are accessible from international gold bullion dealers all around the world, so you can purchase them.
As we learned about Mexican Peso Gold Coins, it expresses the heritage and preciousness of the Mexican Civilization. Its purity and beauty make it go precious and collectible.