Mexican Gold Coins
The history of Mexico and Central and South America in general, has been profoundly influenced by gold. It was the desire for gold that drove the Conquistadors across the oceans toward the New World and led them to conquer and subjugate vast areas of the Americas. The first Europeans to come to Mexico arrived in search of gold and the subsequent history of the country has been shaped by their actions. Although huge amounts of gold were taken and transported back to Europe, enough remained in Mexico for it to become a major gold producing country to this day.
Gold coins were minted in Mexico as far back as the sixteenth century. Although still ruled by Spain, the coin known as the escudo was produced for many years until superseded by the peso and can be regarded as the first truly Mexican gold coin.
It is, however, in more modern times that Mexican coins became an important part of the world gold market, due mainly to their purity and the great quantity in which they were produced. From the early years of the twentieth century, Mexico began to issue gold coins in great numbers that were sold all over the world. Many coin collectors and investors in gold have found these coins to be a great way of profiting from the ever-increasing popularity and value of this precious metal.
Types of Mexican Gold Coins
The Fifty Pesos Coin
The fifty pesos gold coin was originally introduced in 1921 as a way to celebrate the hundredth anniversary of Mexican independence. With a high degree of purity and actually weighing more than most other gold coins, this coin has been a prized part of many collections ever since. Also known as the 'centenario', the fifty peso was officially only minted between the years of 1921 and 1947. However, it is important to note that the date stamp on these coins can be misleading. In the years from 1947 to 1972 another four million, fifty pesos were actually produced but with 1947 given as their date of issue. These gold coins are attractively designed, with the 'Angel of Independence' represented on one side and a golden eagle killing a snake on the other, which is the official Mexican coat of arms.
The Libertad
The Mexican libertad is a much more recently minted gold coin. The first edition of the coin was produced in 1991, with a second edition appearing in 1996. Libertads are produced in various sizes and weights, although all are based on the troy ounce. The largest is one troy ounce, with coins also available at a half, a quarter, a tenth and a twentieth of this weight. The great advantage of the availability of smaller-sized coins is that it allows investors of all kinds to acquire them. The Libertad also contains a great purity of gold, at ninety-nine per cent.The Onza
The Mexican Onza is a gold coin that is very similar to the Libertad. Like the Libertad, it has an image of an eagle killing a snake on one side. On some versions of the coin there are also images of the eagle during its hunt for the snake on the other side of the coin. This side also features the Mexican coat of arms. The other side of the coin has an image of an angel against a background of two volcanoes. The two major differences between the Libertad and the Onza are in weight and purity of gold. The Onza weighs slightly more but has less gold in it than the Libertad.Conclusion
As with all forms of gold, the price of Mexican gold coins will go up or down based to some extent on the world market price. Although investors generally see them as a good choice, especially in uncertain economic times, to profit from long-term trends, it is important to be aware that there may be sudden short-term fluctuations in price.