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Mexico 2nd Republic Coins - Tough to Find - Why?
Cougar1978
Posts: 7,639 ✭✭✭✭✭
Why so tough find these especially in UNC? Very few appearing in slabs? Where are they? So much scarcer vs US of same period.
So Cali Area - Coins & Currency
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I'd say general lack of popularity.
8 Reales Madness Collection
Mintages were very low, they were minted for local trade basically. And the series are endless so not for the average collector. There are many, really many, issues that are incredibly rare. Very hard.
There is no mistake they are very scarce. I have a number that are top pop / single digit pop in their grades. They are way undervalued vs US. One US issue worth $3000 went for $9000 bc of the sticker. An absurdity. I guess an example of some rich collectors in a bid war.
Anybody who knows anything about Mexico 2nd republic coins can appreciate they are tough to find in high grade and grossly undervalued vs US which seems heavily promoted.
A collection of top / single digit pop diverse pieces is a more realistic approach vs the old set building concept.
One thing fascinating about them is the different mints involved. A real opportunity for somebody looking to get really good real value for his money. An exciting field IMO.
I believe 1 person completed a set of the 8 reales I could be wrong but I believe it was one of the authors of the book on the 8 reales series that did so then auctioned it off in the 1990's. You have to be willing to make it a life long goal and expect to be missing many coins in the end even if you accept any quality.
Even if you have the money that means almost nothing people have to sell and most are in long term collections. And those guys are not selling unless they pass away. Buy the ones you like or a mint you prefer but expect not to add to many coins per year especially after the first few years.
I am happy to add 3-5 coins per year and most are authentic graded but that does not bother me. For some it does to each their own.
Collecting interests: Coins from Latin American (2020-present)
Sports: NFL & NHL
Yes and no just a major undertaking even if you have a big bankroll. And you better have many years ahead of you. Not something to start in late age is my opinion but that is just me.
Collecting interests: Coins from Latin American (2020-present)
Sports: NFL & NHL
I understood his question to be more specific to the post 1863 series when Mexico went from the real to the decimal system to better align with the metric system.
8 Reales Madness Collection
Yeah, are we talking about later-date Cap & Ray 8 Reales... or decimal types?
Many of the scarcer dates of the latter are nearly IMPOSSIBLE to find in high grades!! A lot of very low mintages at the branch mints...
Second Republic are decimal coins. First, reales and escudos.
My mistake.
Collecting interests: Coins from Latin American (2020-present)
Sports: NFL & NHL
Abuelo already explained it well, there are so many obscure mints with small mintages. I can't recall anyone amassing a full set. AU and low MS examples seem to be much more common than high grade examples compared with US. Fractionals are tough but when it comes to 8 Reales they are far easier to get ahold of.
The balanzas are also hard to get as many were melted and the population didn't trust them due to their weight/size change from the 8R.
Comparing the market to US coins isn't very fair here IMO. US coinage has been carpet bombed by researchers and has a massive amount of collectors with lots of money to spend. In fact much if not most of the demand for Mexican coins comes from the US. Mexico is a growing market and more info will come as it is pioneered further.
My eBay page: https://www.ebay.com/usr/alvareznumismatics
I only have these:
1903 Mo M Small Date NGC MS65 Peso Gold 10,000
1888 Zs Z 25 Centavos Scales/Balanza BU 408,000
1897 Cn Q 5 Centavos BU 223,000
1892 Mo M 5 Centavos BU 1,400,000
1890 Mo Centavo BU 18,726,000
1896 Mo Centavo BU 3,075,000
1901 Cn Q 10 Centavos BU 235,000
1902 Cn Q 5 Centavos BU 262,000
1903 Cn Q 10 Centavos BU 256,000
1904 Cn H 5 Centavos BU 352,000
1897 Mo Centavo BU 4,150,000
1894 Mo Centavo BU 1,896,000