Collecting world coins from Mexico is going to be an enjoyable learning experience. You will not only discover the history of Mexican coins, you will also know about the history of the country. Eventually, this will make you understand more their culture, heritage, and people. Explore Mexico by collecting Mexican coins.
Here are some ways to start the Mexican coin collection.
1.) Learn the history of coinage in Mexico
To deepen your appreciation of collecting Mexican coins, go learn about the complex history of Mexican coinage. Discover what was the medium of exchange used by Mexican merchants for their trade when coins did not exist yet. Read books, read articles, and trace the beginnings and developments of the Mexican peso.
It is also worthy to note that the Casa de Moneda de Mexico (Mexican Mint) is the first coin mint in the Americas. It was established in 1535 when the Viceroy Antonio de Mendoza arrived to the New Spain (a political unit of Spanish territories in North and Central America and Asia Pacific).
De Mendoza brought a royal order from the Spanish monarch to build the first mint in America. For more than 300 hundred years, the silver and gold coins produced by the Mexican Mint were the basis of money circulating in the country and became export products.
2.) Identify Mexican coins
There can be plenty of coins you will find in Mexican numismatics. It is very important that you know how to identify Mexican coins, know their coin prices, their historical and numismatic significance, and more.
Types of Mexican coins
Mexican error coins
Coin errors are mistakes that occurred during the minting of coins. The mint mistakes on Mexican error coins would vary from off-centering, die breaks, to misstrikes and these errors are most common on centavo and/or peso coins.
Rare Mexican coins
Collecting rare Mexican coins can be a bit challenging but fulfilling at the same time. There is no greater sense of achievement when a numismatist locates a valuable rare coin and gets to own it.
Aside from being challenging, rare Mexican coin collecting can be an expensive hobby too.
Silver coins of Mexico
One of the most famous Mexican silver coins is the Libertad. First introduced in the 1940s, the silver Libertad was not minted for many years and was only produced again in the 80s.
Currently, the Mexican Mint produces modern and exquisite Mexican Libertad silver bullion coins primarily for bullion coin investors and to collectors as well. The Libertad also come in gold.
Mexican gold coins
The Mexican gold coins are composed of ancient pieces to modern numismatic items. The Aztec Empire was famous for their use of gold in various artifacts, accessories and coins while during the Spanish rule, gold escudos were produced and used.
When Mexico gained its independence its coinage remained based on the Spanish currency (e.g. Mexican gold peso) until 1864. Today, examples of famous Mexican gold coins are the bullion coins 1 Onza and Mexican 50 peso gold coin.
The Mexican money: circulating coins
Of course, above everything else, there is the Mexican money which is composed of peso and centavo coins. Collecting the circulating coins of Mexico is one exciting feat indeed. You can collect by denomination, by year or by every change in design. It is quite easy but enjoyable.
3.) Choose what Mexican coins to collect
Because of the countless possibilities in collecting Mexican coins, it is important to set your purpose to set your direction in the hobby. Decide what coins you would want to focus on.
If you are a lover of history, then collect old Mexican coins like coins from the Aztec Empire, the era of Spanish rule, to the Independence Movement and so on.
If you are after the beauty and condition of the numismatic piece, collecting high graded coins will suit your fancy. If you are a numismatist who is in for a little challenge, try rare Mexican coins.
But if you are the collector who wants to keep it simple and fun, go for the circulating coins – the Mexican peso and centavo coins. On the other hand, for those who intend to invest on gold coins and other bullion coins, Mexican silver coins and gold coins are ideal.
4.) Buy Mexican coins wisely
Being a wise buyer is being a wise coin collector. Know where and how to buy foreign coins like Mexican coins. Here are a few basic tips:
Buy from reputable world coin dealers
This is a common advice because it is always an effective one – look for reputable Mexican coin dealers. By reputable it means sellers who are accredited by numismatic institutions or organizations, recommended by expert numismatists, and preferably those who are in the coin business for a long time.
In case of Mexican bullion coins, it is best to buy from the coin mint.
This is mostly important when you are buying expensive Mexican coins. To ensure authenticity of the coin, always ask for the certificate of authenticity. When it comes to graded coins, only accept the pieces evaluated by a well-established professional coin grading company.
Know Mexican coin values
Keep updated coin price guides handy. They are very helpful both in determining coin values and analyzing the changes in the coin market. Compare Mexican coin prices from different dealers and coin shops and determine the differences between prices.
Study the Mexican coins for sale
Do not go for impulsive buys. Before you purchase the Mexican coins for sale at your local coin shops, study the coin carefully. Whether out of fraud or not, you can be buying the wrong coin – it can be a fake Mexican gold coin, a wrongly attributed Aztec coin, or an overvalued rare Mexican silver Libertad.
5.) Maintain your Mexican coin collection
It is not enough that you buy your coins; the numismatic hobby also involves storing and displaying your collection properly.
Buy the right coin collecting supplies and go for tested and trusted brands. For example, Whitman and Dansco are two of the popular and recommended names when it comes to coin folders and albums.
Air-Tites are also famous for their air tight coin holders that prevent coins from being exposed to humidity, air, water, and dust.
6.) Keep yourself informed
Remember that collecting coins is a continuing journey. Keep yourself updated with news related to numismatics – newly found ancient Aztec coins, a new design of the Mexican Libertad, an upcoming auction for famous rare coins in Mexico and a lot more.
If you want to make the most of the hobby, getting left behind should not be a choice.
7.) Join numismatic clubs
Become a member of numismatic groups or clubs that concentrate on Mexican coins. Here you will find friends that share the same interests.
It will also be an avenue where you can ask coin experts about your collection of Mexican coins, or you can impart your knowledge to beginners in collecting world coins minted in Mexico.
Numismatic clubs as well sponsor events, tours, and lectures to enrich the knowledge of its members about the hobby.