2017-08-11 Fri

A gold standard was adopted by Mexico just before the 20th century. In 1905, new denominations like five-peso and 10-peso gold coins were introduced. In 1918, 2.5-peso gold coins were introduced while two-peso gold coins were circulated in 1919.

In 1917, the 20-peso gold coin featuring the Aztec Sun Stone, issued under the Mexican Monetary Reform Act of 1905, was circulated for the first time until 1921. After the introduction of the new Law, Mexican branch mints stopped producing coins and the entire process was centralised. Overflow coin production assignments were given to United States Mint and England’s Birmingham Mint on a contract basis. 6.16 million pieces were struck, out of which most of them were issued in 1918 and 1919. The production ended with 921,500 pieces in 1921. 1921 “21 over 11” overdate variety are higher in number as per experts. Clean 1921s in higher grades are rare to find.

The production was resumed in 1920. 1,158,414 pieces dated “1959” have been struck in 11 years. Another set was released between 2000 and 2009. This second batch of restrikes was produced in matte finishes.

The obverse features the seal of the United Mexican States at the centre. A golden eagle holds a snake in its beak and in its talon. The snake is trying to bite the eagle. The eagle is on a nopal cactus which grows on a small mound with water around it. This symbol refers to Mexica (Aztec) which is people's foundation myth of the city of Tenochtitlan. There are several mythical stories behind this city. Oak and olive branches appear at the bottom. Other inscriptions include ESTADOS UNIDOS MEXICANOS which translates to "United Mexican States" along with the year 1921. On 1921 “21 over 11” over-date versions, the first “1” in the year can be seen below the “2”.

The reverse depicts the Aztec Sun Stone which is a symbol of Aztec art. Other inscriptions include VEINTE PESOS which means “Twenty Pesos”; 15 Gr. ORO PURO which means “15 grams of pure gold”. There are dentils around the design.

The smooth edge has an inscription INDEPENDENCIA Y LIBERTAD which means “Independence and Liberty”.