Mexico 1996 2 onzas
This specimen was lot 73515 in Stack's Bowers Collectors Choice sale (Costa Mesa, CA, September 2023), where it sold for $120. The catalog description[1] noted, "MEXICO. 2 Onzas, 1996-Mo. Mexico City Mint. PCGS MS-67. A most attractive, high-grade example of this popular design type." In 1949 the Mexico City mint issued the world's first onza to modest success. It tried again in 1980 with a resurrection of the 1949 design. In 1982 the medallion (technically, Libertads are not coins) was redesigned to use the obverse from the 1921 two pesos. The weight was reduced and the fineness increased from 0.925 to 0.999 fine silver. The medallion was an immediate hit. It was the only silver bullion coin on the market for several years and, backed by the Mexican government, outcompeted private mint issues. It inspired imitations such as the U. S. silver eagle (from 1986) and the Canadian Maple Leaf (from 1988) which have cut into its market share to the point where several of the later dates are downright rare. In 1996, the Libertad was completely redesigned. The module was increased from 36 to 40 mm and the statue of Libertad is depicted from the side rather than from the front. Unfortunately, this redesign corresponded with a period of low silver prices and sales were generally poor. The eagle side of the one onza was redesigned in 2000 but the two and five onzas are still in production with this design.
Recorded mintage: 50,000 plus 1,200 proofs.
Specification: 62.20 g, 0.999 fine silver, 48 mm diameter.
Catalog reference: KM-614.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, September 2023 World Collectors Choice Online Auction - Ancient & World Coins, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2023.
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