Gold Bullion Coins: Mexican Gold Coin 50 Pesos
Gold bullion coin investors wanting gold coins with small premiums should consider the Mexican Gold Coin 50 Pesos, which contains 37.5 grams (1.2057 oz) of gold in an alloy of 90% gold and 10% copper (21.6 karat). For durability, most gold coins in the Western World have been alloyed with copper. First issued in 1921 to commemorate the 100th anniversary of Mexico's independence from Spain, the Mexican Gold Coin 50 Pesos is also known as the Centenario.
The Mexican Gold Coin 50 Pesos is a strikingly beautiful gold coin, more than 20% larger than the popular 1-oz Gold Eagles. The obverse of the Mexican Gold Coin 50 Pesos has an image of Winged Victory, with a laurel wreath in her right hand and broken chains in her left. Two famous Mexican volcanoes, Popocatepetl and Iztaccihautl, rise in the background. The 1821 on the lower left commemorates the year of Mexico's independence. The date on the right indicates year of mintage.
However, between 1949 and 1972, nearly four million pieces were struck, most likely dated 1947. These are referred to as restrikes; the earlier 50 Pesos carry small premiums over the restrikes, except for the 1921 and the 1931 coins, which can have large premiums. The reverse depicts the Mexican Coat of Arms, which is an eagle perched on a cactus with a serpent in its beak.
The photo is of a "mint condition" 50 Pesos. 50 Pesos do not have the beautiful finish exhibited by the coin in the photo. For a photo of a "standard grade" 50 Pesos,
click here. Interestingly, while the mint condition coin photo shows the coin flawless, the photo of a "normal" 50 Pesos exaggerates scratches and bag marks.
When Americans regained the right to own gold bullion on December 31, 1974, Mex 50 Pesos, quickly become one of the gold bullion industry's standard bearers, along with the Austrian 100 Corona. Because CMIGS is located in Phoenix, Arizona, we saw a lot of trading in 50 Pesos. Despite being headquartered in Phoenix, Arizona, and being close to the Mexican border, nowadays we do not see much trading in 50 Pesos.
The tremendous success of Krugerrands in the early 1970s drove the 50 Pesos and the 100 Coronas into obscurity, where they have remained. Today, the 50 Pesos, the 100 Coronas, and the Krugerrands offer investors gold at the lowest premiums.
Low Premium Gold Bullion Coins
Mexican Gold Coin 50 Pesos, Austrian 100 Coronas, and Krugerrand gold coins are ideal coins for gold buyers who want low premium gold coins, coins that have small markups over spot.
Because these three coins are no longer promoted, they sell just a few dollars above spot, sometimes as low as 1% for large quantities. By comparison, large orders of 1-oz Gold Eagles usually carry premiums of 4.5% to 5%.
If you would like to discuss the advantages and disadvantages of buying 50 Pesos, Austrian 100 Coronas, and Krugerrands, call us at 1-800-528-1380. CMIGS is one of the country's oldest and most respected gold dealers. We are located in the Phoenix, Arizona financial district.
