Mexico Experts Needed: 1918-M Peso

FilamCoins

I've had this coin for a while and have always wondered why it is considered a key date. 2007 Krause lists it at $1,350 in UNC and $2,100 in BU. It is a first year issue and was struck during revolutionary times. 1918 was the first year that the size and silver finess of the Mexican Peso was reduced (18g @ 80%). Mintage is reported at 3 million. The 1910 "Caballito" Peso, by comparison, has a slightly greater mintage at 3.8m and was made of greater stock (27g @ 90%). This coin, however, lists for $250 in Krause, with other Caballito dates with far lower mintages, listing for just a little more. Was the 1918-M melted in large quantities? Were few saved, as is common for first year issues, because of the economic/political situation? Any light that you can shed would be greatly appreciated by this curious collector.

newsman

Without knowing for sure, I would guess that the debased issue would have higher circulation, while the Caballitos were put away. The 1918 is definitely an expensive coin in uncirculated, along with the 1919, but both are fairly common -- and inexpensive -- in circulated grades up to XF.

a039

The 1918 Peso is a two year type with a lower mintage than the 1919, assuming collectors agree that everyone who collects Peso's of this era must have at least one of them in their collection the price guide is plausible for UNC coins yet most likely high. No one knew these would be key dates (including the mint) so they were not collected at the time.

Your example is a wonderful piece with full leg feathers, nice luster and minimal bag marks, thanks for sharing.

FilamCoins

Thanks for the feedback guys.

Any other theories/information out there?

mrpotatoheadd

Click here to read what Richard Long has to say in "The Availability of 20th Century Mexican Coins".