Mexican Gold Hidalgo
'Hidalgo' Mexican Gold Pesos - minted in four denominations
Of all the different Mexican Gold Pesos that the Casa de Moneda de México minted in the past, only the Hidalgo Gold Pesos were issued in multiple sizes. The coins that mostly depict a portrait of the pastor Don Miguel Hidalgo y Costilla on their obverse side exist in the denominations of 10 Peso, 5 Peso (1/2 Hidalgo), 2.5 Peso (1/4 Hidalgo) and 2 Peso (1/5 Hidalgo). The 2 Peso gold coin is an exception in that it displays a harvest wreath instead. Mexico's official coat of arms that shows an eagle perched on top of a cactus while holding a snake appears on the reverse side of all sizes of the Mexican Gold Hidalgo.
The four smallest Mexican Peso gold coins are composed of 90% gold and 10% copper just like the larger Mexican 50 Peso gold coins and Mexican 20 Peso gold coins. Mintage numbers as well as mintage periods differ significantly for the four different Mexican Hidalgo gold coins.
As a coin type, these Gold Peso coins aren't rare gold coins. The mintage numbers of the 2 ½ Peso gold coins were far lower than those of the other three denominations though. If you decide to buy gold in the form of these Mexican gold coins, you should know that all four coin denominations were heavily restruck in later years! American buyers that are investing in gold for their retirement should take note that all versions of the Mexican Gold Hidalgo coin are not eligible for inclusion in Individual Retirement Accounts (IRA's) since they are classified as collectible gold coins by the IRS.
Coin Fact Sheet
| Weight | Face Value | Purity | Diameter |
|---|---|---|---|
| 0.2411 oz | 10 Peso | 90% | 22.5 x 1.4 mm |
Total Mintage: 8,239,000
| Weight | Face Value | Purity | Diameter |
|---|---|---|---|
| 0.1205 oz | 5 Peso | 90% | 19 x 1.14 mm |
Total Mintage: 9,392,000
| Weight | Face Value | Purity | Diameter |
|---|---|---|---|
| 0.0603 oz | 2.5 Peso | 90% | 15.5 x 0.86 mm |
Total Mintage: 3,745,000
| Weight | Face Value | Purity | Diameter |
|---|---|---|---|
| 0.0482 oz | 2 Peso | 90% | 13 x 1.02 mm |
Total Mintage: 6,350,000
Design of the Gold Peso Coins
The obverse side of the three largest Hidalgo Gold Pesos (10 Peso, 5 Peso and 2.5 Peso) bears the image of the pastor Don Miguel Hidalgo y Costilla, the Mexican "Father of the Nation" who started the revolution that escalated to the Mexican War of Independence on the 16th of September 1810. Hidalgo died as a martyr in front of an execution squad shortly after the revolution began. The 10 Peso gold coin ("Diez Pesos") and 5 Peso gold coin ("Cinco Pesos") has the denomination, year of mintage and mint mark M engraved along the coin's edge. The 2.5 Peso gold coin ("Dos Y Medio Pesos") doesn't contain a mint mark though.
The obverse design of the 2 Peso gold coins is different in that it only depicts a harvest wreath along with the coin’s denomination ("Dos Pesos"), the year of mintage on top and the mint mark of the mint in Mexico City at the bottom.
The Mexican Coat of Arms is depicted on the reverse side of the coins. It shows an eagle perched upon a cactus that is holding a serpent in its powerful beak and talons. The inscription "Estados Unidos Mexicanos" appears above the image of the eagle.
The edge of the 10 Peso gold coins and 5 Peso gold coins is lettered with the words INDEPENDENCIA Y LIBERTAD (Independence and Freedom).
History of the Mexican Hidalgo gold coins
Mexico carried out a monetary reform in 1905 that resulted in the introduction of many new coins by the Casa de Moneda de México in the years that followed. The 10 and 5 Mexican Gold Pesos were already introduced in 1905. The 2.5 and 2 Gold Peso coin followed much later in 1918 and 1919.
Restrikes of the Mexican Gold Hidalgo coin
All four denominations of the Mexican Gold Hidalgo were heavily restruck. The 10 Peso coin had 954,983 pieces restruck between 1961 and 1972. These restrikes bear the date 1959 which makes it very hard to impossible to distinguish them from the original 1959 coins. Matte restrikes of the 10 Peso Hidalgo gold coin were issued in 1996.
The 5 Peso (1,767,645 restrikes), 2.5 Peso (5,025,087 restrikes) and 2 Peso coins (4,590,493 restrikes) were all restruck between 1951 and 1972. The 5 Peso restrikes bear the date 1955 but both the 2.5 Peso and 2 Peso restrikes bear the date 1945. Additionally, 89,000 matte restrikes of the 5 Peso coin were made between 2000 and 2009.
Mintage Numbers
More than 8.2 million 10 Peso gold coins were minted between 1905 and 1959. Annual mintage numbers varied from only 12,000 coins in 1920 to almost 3 million pieces in 1906.
More than 9.3 million 5 Peso gold coins were minted between 1905 and 1955. The lowest mintage year was 1905 with 18,000 pieces which was followed by the highest mintage year in 1906 when more than 4.6 million coins were minted.
More than 3.7 million 2 1/2 Peso gold coins were minted between 1918 and 1948. Only 20,000 pieces were struck in 1944 and only 24,000 in 1947. The highest mintage year was 1918 with more than 1.7 million coins.
More than 6.3 million 2 Peso gold coins were minted between 1919 and 1948. Only 10,000 pieces were minted in 1944 whereas close to 4.3 million coins had been minted in 1920. The fate of the 45,000 coins that were supposedly minted in 1948 is unknown since none are known to exist. Any 1948 issues that are available on the market can be presumed to be counterfeit.
Mexican Gold Libertads
The Mexican Gold Libertad coins are struck out of 99.9% pure gold since 1981. Their design that depicts the Angel of Independence is inspired by the historic Mexican Centenario gold coins. The Gold Libertads are minted by the Casa de Moneda de México, the oldest mint in North America, in the denominations of 1 oz, 1/2 oz, 1/4 oz, 1/10 oz and 1/20 oz. Both brilliant uncirculated and proof coins are available. The coins don't have an official face value and their annual mintage numbers are much lower than those of other gold bullion coins. Despite that, the coins have legal tender status in Mexico.
The Mexican Gold Libertad page gives more information about the coins and allows you to compare current prices.