Featured Greysheet Pricing For June: Mexico Gold 50 Pesos

This month’s featured pricing consists of the Mexico gold 50 Pesos series. This gold coin is well known for its large size and gold weight, nearly one and one-quarter ounces. First struck in 1921 to commemorate the independence of Mexico, it is a heavily collected series. The following text comes from our publication, the Whitman Encyclopedia of Mexican Money, Volume Two, which we are in the process of reprinting.

Composition: 0.900 gold, 0.100 copper. Weight: 41.6666g. Obverse: The national coat of arms with the eagle facing forward, head to the right, above a spray of oak and laurel; above, the legend ESTADOS UNIDOS MEXICANOS. Reverse: The statue atop the Independence Monument, known as El Ángel (based on Nike, the Greek goddess of victory), with volcanoes in the background. To the left of the statue, 50 / PESOS. To the right, the coin's gold weight, 37.5GR. / ORO / PURO. At lower right, the date; at lower left, 1821. Diameter: 37mm. Edge: Lettered INDEPENDENCIA Y LIBERTAD.

The Monumento a la Independencia, popularly known as the Angel of Independence or El Ángel, is a columnar monument located in a circular zócalo, or plaza, in Mexico City. The 118-foot column is crowned by a gold-plated bronze statue of Nike, the Greek goddess of victory, which stands 22 feet high. The finished monument was inaugurated in 1910 to commemorate the centennial of the beginning of the War of Independence.

Originally ordered by the dictator Santa Anna’s administration, to be constructed in the Plaza de la Constitución, the project fell through. President Porfirio Díaz revived the project, and the first stone was placed in 1902. Statues representing Peace, Law, Justice, and War stand at the corners of the column’s base, inside which the remains of 14 heroes of the War of Independence were interred until 2010 (when they were moved to a different location as part of the War of Independence bicentennial celebrations). Four of these heroes—Miguel Hidalgo y Costilla, José María Morelos, Javier Mina, and Vicente Guerrero—are represented by marble statues in front of the monument. Above them, Victory leans slightly forward, holding a laurel wreath high above Hidalgo’s head. In her left hand she holds a broken chain, representing freedom.

In 1929 an eternal flame was added to the monument site. In 1957, as a result of a major earthquake, the Victory statue fell to the ground and broke into several pieces. After a year of restoration, the statue was returned to the top and the site was reopened.

One of the most beloved spots in Mexico City, the monument is often the scene of celebrations, sports gatherings, and political rallies. A popular tourist destination as well, the Monumento a la Independencia is free to visit. If one is willing to brave the narrow, 12-story staircase inside the column, the view from the balcony is said to be extraordinary. Among the sights it affords is the Castillo de Chapultepec, where the 14 heroes of the War of Independence are now interred.

In addition to her appearance on the Type 1 two pesos, El Ángel has graced the reverses of the 1981 Gold Coins of Mexico Program bullion issues, and nearly all the gold, silver, and platinum coins in the Libertad bullion series.