Mexican 50 Peso Gold Coin
The people of Mexico were engaged in an eleven year war with Spanish colonial authorities that lasted from (1810-1821), known as the Mexican War of Independence. To commemorate 100 years since the beginning of this war, Mexico erected a column and statue known as the Angel of Independence. Atop this column is a statue of the Greek Goddess Nike. The Winged Goddess of Victory, as she is also known, adorns the front of the Mexican 50 Peso Gold or the Centenario. She holds a laurel in one hand representing the victor of the war and broken chains in the other hand representing Mexico’s break from Spain’s oppression.
The reverse side of the Mexican 50 Pesos displays the coat of arms of Mexico. This important symbol displays an eagle with a serpent clutched in his talons and beak perched on top of a prickly pear cactus. The Eagle is in a fighting stance representing the Mexican people’s readiness to the challenges of life. The snake represents the result of any enemies of Mexico.
The prickly pear cactus with the eagle definitely atop represents Mexico’s challenges and willingness to overcome adversity.
Today the Mexican 50 Peso Gold Coin (1.2 oz) is a world bullion coin which stands besides the Krugerrand and Austrian 100 Corona in popularity. Like the US Gold Eagle the Mexican 50 Peso Gold is alloyed with a small amount of copper to make it more durable.
The Mexican 50 Peso offers other advantages: (1) it is minted by the Mexican government so production, purity and weight are guaranteed. This allows precious metal dealers worldwide to post daily buy and sell prices. (2) The Mexican 50 Peso Gold enjoys a large audience because premiums are the lowest of all bullion coins. And it is recognizable having been traded for more than 50 years. (3) The Mexican 50 Pesos Gold uses a double date (1821 – 1947). These coins however are modern re-strikes minted as early as 1949. During this period the Mexican 50 Peso Gold coin was a popular way of getting around the US prohibition on gold ownership prior to 1975. The coin proved so popular that from 2000-2009 an additional 300,000 were minted. Some believe that if gold were confiscated in the US the Mexican 50 Peso might be exempt because of its dating. (4) There is no reporting requirement (Federal Form 1099B) when buying or selling the Mexican 50 Peso Gold.
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