There is no doubt that collecting coins is one of the most exciting hobbies. Imagine how crazy about it you must be when you are willing to buy off small money denominations for large amounts of money.
One of the most famous cases is the Saint-Gaudens double eagle (face value $20) that was sold for – $18,872,250. Let’s not do the math, but that is a great example of multiplying. If you follow our work you know that we already wrote about valuable and rare coins.
We mostly brought our focus on the US coins, since there are the most popular among the collectors. However, when it comes to interesting and versatile coins, one country can parry the US, and that is Mexico. In this article, we will talk about the most valuable Mexican coins worth money.
Let’s Dive In The History Of Mexican Coins
Knowing the history of Mexico we also know that they were once people of color, great warriors, and merchants. They have rich and interesting cultures and heritage, so there is no surprise in the fact that their previous currency is still one of the most attractive ones.
Before Mexico embraced the peso, they used gold coins which were in use from the early 1300s. However, the first written traces of Mexican numismatics begins in 1535. This is when by the mandate of King Carlos I and Queen Juana, Viceroy Don Antonio de Mendoza formed the first mint in Mexico. An interesting fact is that this was the first mint in America.
The first coin was minted in April 1536, and these are known as Carlos and Juana coins due to the fact they carry the names of Spanish kings on the obverse. From the very beginning, Mexican coins carry a Latin M as a mark to indicate their place of origin. Types of Mexican coins that collectors look for:
- Reales – Before the peso the currency was real. In use were silver reals and gold escudos. To make this a bit more clear, each gold escudo had a worth of 15 to 16 Reales.
- Peso – Little do you know that the peso was an inspiration for many other coins such as the US dollar, Japanese yen, Spanish American peso, and Chinese Yuan. A silver peso was a legal tender in the US for years until 1857. and also in China until 1935. Until 1863 Mexico used the system of 8 reales per peso, after that they changed the system to 100 centavos per peso.
- Peso today – Today Mexico uses the Nuevo peso. This change was necessary after the oil crisis of the 70s which significantly impacted the economy. A new peso is valued at 1000 of the former one, and today it follows the system of a division of 100 centavos.
Most Valuable Mexican Coins Worth Money
What is the rarest and most valuable Mexican coin?
Republic of Mexico, 8-Reales, 1824, NGC PR63
- Year: 1824
- Price: $96,000
This coin was minted in Mexico City in 1824, and it carries a face value of 8 reales. Reales means “royal”, and back in the day, the 8-reales was the most common denomination for coins. This coin is the equivalent of one Spanish dollar. It features an image of a Liberty cap with the sun’s rays shining around. On the reverse side, you can find an eagle with a hooked neck carrying a snake in its beak.
What makes this coin valuable and rare is the fact that this is a proof coin. Proofs were made with high-quality material and they were never released in circulation. One more interesting fact is that it is believed that this is the only one in existence.
How To Calculate The Value Of Mexican Gold Coins?
Did you know that the Mexican 50 Peso Gold Coin contains 37.5 grams of gold? The gold content on its own tells you that these coins are pretty valuable, besides their design and historical background. So now we will explain to you how to determine the value of these coins based on gold content in case your coins are pretty damaged.
Mexican gold coins have been produced for hundreds of years. In the early 20th century Mexican gold coins were converted from escudos to pesos. This is the time when gold was minted in dos (two), dos y medio (two and a half), cinco (five), diez (ten), viente (twenty), and 50 (fifty) peso denominations.
Here is a list of the amount of gold in troy ounces in different types of gold coins:
- Dos Pesos .0482
- Dos y Medio .0670
- Cinco Pesos .1205
- Diez Pesos .2411
- Vienta Pesos .4823
- 50 Pesos 1.2057
- Quarter Ounce .2500
- 1000 Peso 1.000 1
- Onza 1.000
Using this table will help you to easily calculate the value of any gold coin by multiplying the content of gold (in troy ounces) with the current price of gold. For instance, if today’s price is approximately $1150 per ounce and a two peso gold coin contains .0482 troy ounces of gold the formula is simple – $1150 x .0482 = $55.43. The result in the end is the actual value of this coin.
This information can be of great value to you no matter if you are buying or selling gold coins. Knowing the value will help you get the best price for your coin. However, keep in mind that post-1950s Mexican gold coins, including the Onza and 1000 peso gold coins, are made with 1 ounce of 24k gold.
Where Should You Look For Rare Valuable Mexican Coins?
Well, as you know trading valuable items such as coins must always be done in collaboration with reputable dealers, and auction houses. Of course, there are many other places where you can trade coins but there will always be a risk of ending up with fake coins. Here we think of web platforms like eBay, Etsy, and Live Auctioneers.
Also, if you want to buy a rare Mexican you can buy check some of the most reliable Mexican websites such as Mercado Libre, El Azteca, Casa Clio, El Centenario Casa de la Moneda. As always, we will recommend that your first option should be a reliable auction house or reputable coin web dealers such as PCGS, NCG, Heritage Auctions, Coins For Sale, or Littleton Coin Company.
Tips for selling valuable Mexican coins
If your old Mexican coin is damaged so much that it can’t be sold as a collectible, don’t despair. There is another thing you can do. Since these coins were made from pure gold or pure silver you can always sell them for their melt value. Take them to silver stackers and you’ll profit for sure.
To avoid any damage, don’t clean coins on your own, especially not with hard chemicals. If you enhance the shine, you might diminish the value. If you aren’t so good at estimation, make sure you take your coin for appraising. It can be pretty hard to determine the value of a foreign coin.
Also Read:
- Rare Penny Worth Money (Most Valuable Sold For $840,000)
- Rare Nickels Worth Money (Most Valuable Sold For $4,560,000)
- Comprehensive List Of Quarter Errors Worth Money (Most Valuable Sold For $352,500)
- Most Valuable Dollar Coins that Are Worth Money (1794 Flowing Hair Dollar is Estimated at $11,769,083)
- 19 Rare Beanie Babies Worth Money (Can Reach Up to$125,000)
- 10 Most Valuable Foreign Coins (Two Sold For Over $4 Million USD!)
FAQ
Why are Mexican coins so valuable?
Ancient Mexican coins are very valuable due to the combination of a few significant factors: historical background, design, material, rarity, and demand. Considering that Mexico was the first place in America where coins were minted, this give them a big advantage when it comes to pricing.
Also, there are hundreds of different designs and denominations which expands one’s choices, and everyone like to have many different options. Some coins are hand minted (Carlos and Juana coins) so they are pretty unique, you know that no matter how precise a manufacturer is, he can never make two same coins.
What are silver Mexican coins called?
The libertads is a second name for Mexican silver coins. These coins were made in the Mexican mint, La Casa de Moneda de México. Back in the day, it was pretty normal to use silver and gold for minting coins in México considering they enjoyed an abundance of these precious metals.
They even made silver and gold coins for Asian countries. The funny thing is that Mexican gold coins were treasury reserves for some countries. That tells you how rich Mexico was.
How hard it is to collect old Mexican coins?
Well, the answer is yes and no. Mainly it depends on the type of coin you are looking for. If you are trying to find some that are classified as rare, you’ll have a pretty hard time doing so.
However, the great thing about collecting Mexican coins is that there are so many different designs, and types that you can build a truly valuable and beautiful collection and stay within your budget range.
Naturally, these coins won’t have the quality and rarity of those that are the most valuable old Mexican coins, but they still count as very valuable collectibles, so don’t hesitate.
Let’s Build Up That Collection
Collecting world coins can be a pretty interesting hobby, and it can pay off greatly as well. Mexican cons can be sold for premium prices, so take time to research and learn before you take any action. Now it is all up to you. What will be your first step to start your Mexican coin collection? If you are willing please share your story with us.
Hopefully, this article answered some of the questions and helped you figure out how to handle your precious coins. In case you know some information that we didn’t mention here, please do not hesitate to share your opinions and advice in the comment section below.
