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Mexican Gold Pesos Coins
The peso is the currency used in Mexico. Initially called Spanish dollars, they were introduced during the Spanish reign in the country. After its becoming an independent nation in 1821, the newly formed Mexican Government continued with the same tradition. Interestingly, Mexico was the first nation to use the ‘$’ symbol for its currency, long before the Americans began to use it. Pesos were distributed in notes as well as in copper, silver and gold coins, and as you would expect, the most precious of them are the Gold Pesos.
The Gold Peso
The Mexican Gold Peso is widely considered to be one of the most beautifully crafted of all the gold coins issued by different countries across the world. The Gold Pesos were first introduced in 1870, with denominations of 1, 2 ½, 5, 10 and 20 pesos. In the first decade of the twentieth century, the denomination of the gold coins was reduced to 5 and 10 peso gold coins by the Monetary Reform of 1905 as a result of frequent political upheavals that took place in the preceding years. The discontinued coins would be reissued a decade later, in 1917.
It was in 1921, to celebrate 100 years of Mexican Independence, that the country launched the 50 peso gold coin, which is one of the most collected gold coins in the world and is popular among coin collectors and metal investors. Along with the British Sovereign, the 50 peso gold was one of the few gold coins to be minted regularly, a reputation which would later be claimed by the Kruggerrand from South Africa in 1967. All the gold coins issued by the Mexican Government would contain 90% gold and 10% copper. Copper was added to the coins to give them more stability and durability.
The 50 peso gold coins came with a unique design. They featured a winged angel, called the ‘Angel of Independence’. The angel holds a broken chain in her right hand and a laurel leaf on her left. In the background, the two famous Mexican volcanoes can be seen. The year 1821 is seen on the angel’s sides, denoting the year in which Mexico gained her independence. The reverse side contains an image of an eagle on a cactus eating a snake. This image symbolized the country’s call to arms. Surrounding this image were the words ‘United Mexican States’.
The government stopped issuing gold coins in the year 1947. Ever since then, the Gold Pesos of Mexico have been a hot favorite among coin collectors. While the 50 peso gold coin remained the most sought after, gold coins of other smaller denominations were also in demand.
Finding Mexican Gold Pesos today
Earlier, you had to approach gold dealers or coin stores to find out if Mexican Gold Pesos are available. There are chances that you can get a good deal if you can find a reliable one near you, but most dealers strike a high premium on these coins since they have become rare.
If you are unable to find a good dealer locally, there is always the internet, which is sure to give you the results you need. There are sites devoted exclusively to the sale of gold coins - all you need to do is an online search to find the best sites in the business. Many popular auction sites online also offer many rare coins. You will be able to find Mexican Gold Pesos at interesting deals from these sites.
Before you strike a deal and make you online payment, it is recommended that you first check the reliability of the site you are dealing with. Even at auction sites, where individuals offer products, make sure you check the profile and user ratings of the particular person before you enter into an agreement.
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