Mexico is one of the largest producers of silver in the world. The region currently accounts for 20 percent of the world’s silver mine production. Due to its large deposits of silver and other precious metals, Mexico and the surrounding regions have long been a source of gold and silver for markets around the world.
In 1535, the Spanish colonies in Mexico were growing and prospering. The need for regular currency was increasing, and as a result, the Spanish government commissioned a mint to be built in Mexico City. It was to be the first minting facility in the Americas. The first coins produced at the mint were the eight-real coin (the Spanish dollar) and the Mexican peso. These coins were the basis of many other forms of currency, including the United States dollar, the Japanese yen, and the Chinese yuan. The National Mint of Mexico, or Casa de Moneda de Mexico, has been producing coins ever since. The official minting production has since moved to San Luis Potosi while the original site in Mexico City is now housed in Mexico’s National Cultural Museum.
The 1 oz Mexican Silver Libertad Coin was first produced by the government of Mexico in 1982. With the coin quickly rising in popularity over the first few years of production, the mint decided to expand its offering to include several other sizes in 1991. All coins from the Libertad series feature the same design and purity, and all of the original sizes are still being minted today.
The obverse of the coin features the winged Victoria (who sits atop the Mexican Independence Victory Column in Mexico City) in front of two volcanoes: Popocatepetl and Iztaccihuti. These volcanoes are an important part of Mexican mythology. They represent the legendary love story of an ancient princess and a warrior who were tragically separated by death.
In its first years of minting from 1983 to 1991, the Mexican Silver Libertad was only produced in the one-ounce size. However, starting in 1992, the coin has been minted in the 1/20, 1/10, 1/4, 1/2, and one-ounce sizes. Starting in 1996, the mint started producing the Silver Libertad in the two- and five-ounce sizes, as well.
The coins have been produced in varying amounts over the years, ranging from only 600 one-ounce proof coins in 1999, to 10,000 in 2010. Uncirculated raw coins tend to be produced in higher numbers than the proof coins.
Mexico has typically lagged behind the United States and Canada in coin production. Whereas the United States and Canada generally produce upwards of 10 million coins per year, the Libertad has never surpassed 2.5 million. This only increases its scarcity and, therefore, its value. Collectors and investors who live outside of Mexico may have more difficulty finding it than those who live in Mexico. For this reason, purchasing it online is one of the best ways to acquire the Mexican Silver Libertad.
Mexican Libertads, like other government-issue bullion, are sold at a premium over spot price. These prices vary by dealer, of course, and depend on the number of coins purchased and method of payment. However, the Mexican Libertad is generally priced slightly lower than other coins. This makes the Mexican Silver Libertad one of the more affordable coins on the market.
The Mexican Silver Libertad is a popular choice for several reasons. Not only does it come from the longest standing mint in the Americas, but it offers an economical addition to any collection or portfolio. Feel free to contact JM Bullion today to find out more about this beautiful and historic coin.