When talking about Mexico, people would usually discuss the beauty of its culture, nature, white sand beaches and blue waters. Not many know that Mexico is also known for its Mexican Gold Coins. Even though that topic might not be typical for everyone, it is interesting to gold collectors and enthusiasts.
After reading this blog, we hope you will get a better understanding of what Mexican coins are. Furthermore, we will provide some insight into their history and whether it’s a good investment.
Centenarios – what are they?
The first-ever Mexican Gold coin was struck back in 1921 by the famous Mexican Mint. This date is very special to Mexicans, as it celebrated the 100th anniversary of Mexico’s independence from Spain. These celebratory gold coins are named Centenarios. Even though they were not expected to be used as currency, they’re worth 50 pesos. In fact, their value is reflected by their gold content. That makes them highly sought after as it carries 37.5 grams of gold in an alloy of 90% gold. The condition of the coin, in general, creates more value to it. However, it’s still valuable, even if it has minor flaws.
These particular coins were produced between 1921 to 1931. However, after World War II, gold gained more popularity, and the Centenarios were re-issued again. They were in circulation until 1972, a decade before the Libertads were issued.
Of course, the design of the gold Centenarios coins reflects the remarkable Mexican victory against Spain. On one side of the gold bullion coin has a Winged Victory statue with Popocatepetl and Iztaccihuatl volcanoes behind it. The statue, which is widely known as El Angel, holds a wreath in her right arm to signify the independence of Mexico whilst her other hand holds broken shackles to showcase the breaking away from the colonials. The volcanoes put behind the figure have gained their names from an ancient Aztec love story.
On the other side of the coin is the Mexican Coat of Arms, representing a golden eagle holding a rattlesnake in its mouth whilst sitting down on a cactus.
The Libertad’s were originally made of gold, but soon after the release of the gold, silver coins followed. The coins come in 3 different weight categories such as 1/4, 1/2 and 1 ounce. Moreover, Libertads are unique as they don’t have a face value, and their value purely depends on the current gold value.
In the early years of the release, the design of the Libertads was very similar to the Centenarios. Although, the design slightly evolved throughout the years. The coins feature Winged Victory, the Angel of Independence and the Mexican Crest on the other side. However, this time, the coin’s backside featured the “Estados Unidos Mexicanos” phrase, which translates as the United Stated of Mexico.
Is it beneficial to buy Mexican Gold Coins?
Owning a Mexican Gold Coin is like owning a piece of Mexican history. The precious meanings behind the designs of the coins are extraordinary. There are many Mexican Coin collectors in the US, which makes the rate fluctuate often. Despite that, the coins hold great value.
Whether you decide to collect these coins, ensure that you check their condition before investing. Of course, the better the condition, the higher its value, hence why the most valuable coins often come in a protective cover. There are exceptions made when the coins are classified as incredibly rare.
Selling your Gold Coins
Of course, if you decide that you may want to sell your collected coins one day, some places would happily buy them off you. Our advice is always to research gold prices beforehand and look for a reputable gold buying place.
Here At Manchester Gold Exchange, we use the latest metal purity machine and offer prices for gold with no hidden costs. We have a specialist team on site that will advise you and offer the cash on the same day. We would love to welcome you to our new Manchester City Centre location and meet you face to face for your gold valuation. Please feel free to call us on 0161 273 2511 / 0161 273 3227 or visit our website.