The Mexican Gold Peso
Tuesday, September 01, 2009
Perhaps the greatest reward of coin collecting is that each coin has its own unique
beauty and history, and the
Mexican Gold Peso is no exception. First minted in 1921, the Mexican Gold
Peso commemorates the centennial of Mexico’s hard won independence from Spanish
colonial rule.
The Mexican War for Independence lasted from 1810 to 1821. A Mexican-born Spaniard,
Miguel Hidalgo y Costilla led other colonial-born Spaniards, along with Mestizos
and Amerindians, in an uprising against the Spanish conquistadors. Although Hildago
shortly following his initial revolt, the Mexicans were ultimately successful in
ousting their oppressors, and on September 27, 1821, the Treaty of Cordoba was ratified,
giving Mexico sovereignty from Spain.
In 1910, the Columna de la Independencia (the Statue of Independence) was erected
in Mexico City’s Paseo de Reforma, commemorating the start of the war. Atop a massive
column is a figure of Winged Victory. This angel is made of bronze and plated in
24-karat gold. She holds a laurel crown, the symbol for victory, in her right hand.
In the left, she clutches a broken chain that represents Freedom. At the base of
the statue, a mausoleum hosts the remains of war heroes.
The Angel rapidly became a symbol of pride in Mexico, and was the perfect image
to adorn the Mexican Gold Peso. In 1921, the Mexican 50 gold peso was minted for
the first time. Each coin’s reverse depicts Winged Victory in the foreground, with
Mexico’s volcanoes, Popocatepetl and Iztaccihauti, in the background. On the obverse,
the original Mexican coat of arms is etched in brilliant detail. The coat of arms
features an eagle atop a cactus, devouring a serpent.
Unlike the Mexican
gold 50 peso, the 20 peso features the modern version of the Mexican coat
of arms. Rather than facing forward, the eagle on the Mexican 20 gold peso faces
sideways. This updated design balances the coin’s obverse, which features the Aztec
Calendar. Also known as the Sun Stone, this ancient calendar is one of Mexico’s
most enduring pre-colonial symbols. Thus the
Mexican 20 peso acknowledges Mexican heritage, both ancient and modern.
Both the 10 peso and 5 peso coins pay homage to Hildago on their reverse. Considered
the “Father of the Nation,” Hildago’s efforts—and public execution for his role
in the war—earned him a treasured place in the hearts of Mexicans and a burial in
the mausoleum below the Columna de la Independencia.
The Mexican peso has grown to be a favorite among collectors of gold bullion, due to its historical interest and
value as a hard asset. While other bullion coins like the Kruggerand and Gold American Eagle are widely promoted,
the Mexican gold peso has quietly remained an excellent value for collectors. These
lesser known coins are often available for a very small mark-up over the spot price,
making them an outstanding investment for numismatists.
This information is provided for general reference purposes and does not
constitute professional advice. For detailed coin collecting or investing information,
please consult with a professional expert.
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