Currently, the Bank of Mexico is in charge of its production and has authorized distributors.
The coin known as the “centenario” was minted in Mexico in 1921 to commemorate the first centenary of Mexico’s Independence. However, its production was suspended in 1931 and resumed in 1943 due to the growing demand for gold coins at that time.
Currently, the Bank of Mexico (Banxico) is responsible for its production through the Mexican Mint. This coin contains 1.20565 ounces of pure gold and, like all coins in the Centenario family, has a purity of 0.900.
The sale of this gold coin is managed by Banxico through the Mexican Mint located at 295 Reforma Avenue, as well as at the Interactive Museum of Economics in the Historic Center, both located in the Cuauhtémoc borough in Mexico City.
It is important to note that purchases of the gold coin are made only in person, and the payment method is an electronic transfer through the SPEI platform.
Additionally, other commercial banks are authorized by Banxico as official distributors of the centenarios, including BBVA, Citibanamex, Banorte, Banco Azteca, Banregio, and CIBanco. However, you should inquire about the branches with coin availability.
Although its nominal value is 50 pesos, the selling price for this gold coin is not fixed and depends on the daily quotation of precious metals internationally. However, it is around 69,000 pesos for sale and 58,000 for purchase.
On the obverse, this coin features one of the national coats of arms used in the past, and the reverse symbolizes a Winged Victory, represented in the Angel of Independence monument, along with a background of the legendary Iztaccíhuatl and Popocatépetl volcanoes.
Is it safe to invest in a Banxico gold centenario?
Investing in a gold centenario from the Bank of Mexico can be an attractive option for those looking to secure their savings in precious metals, especially in times of economic uncertainty.
Centenarios are coins with a high gold content, giving them intrinsic value. However, profitability will depend on several factors.
One of them is the fluctuation in the international gold market, which will directly affect the value of the centenarios. Another factor is the demand for these coins, considering that in times of high demand, they could be sold at a value higher than the gold content.
It should also be noted that the physical condition of the centenario can affect its resale value.
Globally, changes in the world economy can also influence gold prices.
It is important that before buying these types of coins to secure your savings, you conduct a careful analysis and possibly consult with investment experts before making a decision. As with any investment, there are risks, and specific profitability is not guaranteed.
Source: Infobae
