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The prices of ancient coins are usually somewhat on the web, in most cases because the sellers are not numismatic experts, collectors and true connoisseurs of the prices of ancient and collectible coins.
However, on the Mercado Libre site we have found for sale an old 1 peso coin with the bust of the hero of Mexico’s Independence, the priest and politician, José María Morelos y Pavón, which was minted with 30% silver, at a price between 200 and 800 pesos.
What is the true value of the Morelos 1 peso coin?
And although the sellers can set the price they consider fair for their pieces, it is possible to consult an expert in numismatics or resort to the catalog of Mexican coins, according to which, the real value of this coin is between 8 and 12 dollarswhich at the current exchange rate is equivalent to a range of 164 and 246 pesos.
The old Mexican coins made with silver
According to the official website of the Bank of Mexico (Banxico), the Morelos currency was minted by the Casa de Moneda in 1950 and replaced the famous peso known as the Morelos cachetón, which was minted in the years 1947, 1948 and 1949, with 50% silver.
However, the rise in price of the precious metal at the end of the 1940s forced the Mint to reduce the amount of silver it used to make coins. Our 1 peso coin emerged with 30% of the metal and by 1957, the silver in the coin that is known as the Tepalcate peso was reduced to 10%.
What are the characteristics of the Morelos 1 peso coin?
As we mentioned, this coin only had 30% silver in its composition and hit the streets in 1950, after the rise in silver prices, so only 3 million 287 thousand units were minted.
- Date put into circulation: 1950
- Diameter: 32.0mm
- Circular shape
- Weight: 13.33 grams
- Edge: Fluted
- Composition: 30% silver
- Denomination: 1 peso
- Obverse: Presents the national coat of arms, with the legend United States of Mexico forming an upper semicircle.
- Reverse: Shows the three-quarter bust to the left of José María Morelos y Pavón, to the right of the denomination expressed as “1 Peso”, the year of minting and the Mint of the Mint.
If you find one of these coins among your grandparents’ belongings, you already know the real price that a numismatist would be willing to pay for this collectible piece.
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