Intricate in design and rich with significance, the Mexican 50 Peso gold coin is one of the most iconic coinages in the world today. The 50 Peso gold coin is classed as an investment gold coin.
Bullion enthusiasts looking to invest in gold coins today will benefit from the Mexican peso. Let's look a bit more at what makes the Mexican 50 Gold Peso so valuable.
The Rich History of the Mexican Peso Gold Coin
The Mexican Peso coin first appeared as a form of currency during Spanish colonization of the region. The original Mexican Peso was based on the Spanish currency. Following Mexico’s independence from Spain in 1821, Mexican began to mint the Peso coin independently starting in 1866.
The Mexican Peso is one of the oldest officially minted coins in North American history. It is known considered to be one of the first bullion gold coins. The modern Mexican 50 Peso, often also known as Centenarios, was created in 1921 to honour the 100th anniversary of the country's War of Independence. The reverse side of the coin features the Mexican coat of arms which is also reflected in the country's national flag. The front side features a Winged Victory signifying the Angel of Independence.
In the early 1900s, the Mexican gold peso coin was minted with a fineness of 0.900, with each coin containing about 1.2057 ounces of gold. This was a standard level of purity at the time. However, the Mexican 50 Peso coin is larger than most coins, with a thickness of 2.69mm, and a diameter of around 37.08mm. It was not until the release of the South African Krugerrand during the late 1960s that the Mexican Peso was minted in large quantities.
What Makes the Mexican Peso So Valuable?
The Mexican 50 peso gold coin is valuable with investors and collectors alike. The coin carries a low premium over the spot price, which allows investors exposure to greater profits. The Mexican Peso coin can be purchased at a premium of around 3% to 4% over the coin's base value in gold. Collectors or investors understand the significant difference in premium when purchasing in smaller denominations.
Because gold bullion coins generally sell for a significantly hefty premium due to the extra expenditure associated with their minting, collectors prefer to buy larger sized Mexican pesos, as the cost of minting is the same regardless of whether a coin is larger or small.
Conclusion
The Mexican 50 Gold Peso has a wide and intricate history. The coin began as a currency designed to commemorate Mexico's history. These coins are an excellent addition to a precious metals portfolio. 50 Peso gold coins can be bought and sold from BuyGoldCoins.eu.
