INDEXThe Serpent, The Angel, and The Mountain: A Guide to Mexican Bullion
Mexico City is home to the oldest mint in the Americas. Long before the US Mint struck its first dollar, the Casa de Moneda de México was fueling the global economy with silver.
Today, that legacy lives on in the Libertad, a coin that rivals the American Eagle in popularity and arguably surpasses it in beauty.
I. The Oldest Mint in the Americas
Established in 1535 by Spanish decree, the Mexican Mint was built directly atop the ruins of Aztec Emperor Moctezuma’s "house of meditation." It’s a fitting origin for a mint that blends European coining standards with deep indigenous history.
For centuries, the Mexican "Piece of Eight" was the world's reserve currency. The modern Libertad is the direct descendant of that global standard.
II. The Grandfather: The 50 Peso Centenario
Before the Libertad, there was the Centenario. Released in 1921 to celebrate 100 years of independence, this is one of the most impressive gold coins ever made.
- Massive Size: Containing 1.2057 troy ounces of gold, it is 20% larger than a standard 1 oz coin.
- The Design: Features the "Angel of Independence" with the volcanoes Popocatépetl and Iztaccíhuatl in the background.
Collector Note: Most Centenarios on the market are "restrikes" dated 1947. Originals from 1921-1931 are rare numismatic prizes.
III. The Experiment: The "Onza Troy"
In the late 70s, Mexico experimented with a dedicated silver bullion coin. The result was the Onza de Balanza (Scale Ounce).
- Rusticity: These are thick, chunky coins struck in Sterling Silver (.925).
- The Look: They feature a screw press and balance scales—symbols of the mint's industrial precision.
IV. The Libertad Series (1982–Present)
In 1982, the Silver Libertad was born. It was the world's first modern silver bullion coin, beating the American Eagle by four years.
A Coin Without a Face Value
Unlike a US Dollar coin, the Libertad has no fixed denomination (e.g., "50 Pesos"). It is legal tender for whatever the silver inside is worth at that moment. It is "honest money" in its purest form.
Old Style vs. New Style
- Old Style (1982–1995): Smaller diameter (36mm), thicker, with edge lettering ("INDEPENDENCIA Y LIBERTAD"). The Angel faces forward.
- New Style (1996–Present): Larger (40mm), thinner. The Angel stands on her tiptoes in a dynamic ¾ profile. The obverse now features a "wreath" of historical eagle designs.
V. The Legend of the Volcanoes
The mountains behind the Angel aren't just scenery; they are the lovers Popocatépetl and Iztaccíhuatl.
Legend says Popocatépetl was a warrior who returned from battle to find his love, Iztaccíhuatl, had died of a broken heart. He carried her to the peaks and knelt beside her with a torch. The gods turned them into mountains: she is the "Sleeping Lady" (Iztaccíhuatl), and he is the smoking volcano (Popocatépetl) that watches over her forever.
VI. Precious Metals & "Grails"
The Platinum Grail
While silver and gold are common, Platinum Libertads are the ultimate prize.
- The Holy Grail: The only official platinum issue was a tiny run in 1989.
- Buyer Beware: If you see "Black Platinum" or "Ruthenium" Libertads online, they are altered silver coins, not official mint products.
Key Dates to Watch
- 1998 Silver 1 oz: The "King of Bullion" with only 67,000 minted.
- 1999 "Mule": A super-rare error where the 2000 design was accidentally used on a 1999 coin.
- Fractionals: Tiny sizes like the 1/20 oz often have vanishingly small mintages (e.g., 2007).
VII. The "Bank Hoard" Experience
In Mexico, you don't order coins online; you hunt for them.
The primary distributor is Banco Azteca. Collectors can visit branches to ask for "Onzas." It's a treasure hunt—you might find brand new 2025s, or a dusty vault find from 2005 sold at today's silver price.
Explore the full world of Mexican numismatics: Mexican Libertad Summary →
