The Mexican 50 Pesos Gold Coin was first minted from 1921 through 1931, suspended, and then from 1943 through 1947. The coin is called the Centenario, in celebration of the 100th year anniversary of Mexico's 1821 independence from Spain. Minted at Casa de Moneda, the continent’s oldest mint, the Centenario represented the first one ounce gold coin minted by Mexico. The coin contains 1.2057 troy ounces, 37.5 grams, of pure gold. Similar to U.S. coins, the gold content is 90 percent gold and 10 percent copper. The coin was restruck from 1949 to 1972. Most of this last edition, resulting in some 4 million coins, was most likely dated 1947. Some of the earlier editions have more premium value than the restrikes, especially the 1921 mintage of 180,000 coins, and the 1931 edition of 137,000 coins. The year 1943 produced the lowest mint of 89,000 coins. That year, the imprint ‘37.5 Gr. Oro Puro' was added to substitute for the '50 Pesos' imprint, due to the fluctuating currency rate.'50 Pesos' was returned the following year. It appeared on the left side of the obverse accompanying ‘37.5 Gr. Oro Puro' on the right.
Emilio del Moral designed the coin. On the obverse is a drawing of “El Angel,” the Winged Victory. In her raised right hand, she holds a laurel wreath celebrating victory. Broken chains in the left hand signify freedom. The Winged Victory symbol has a Grecian origin. It is based on Nike, the Greek goddess figure for victory, of which a headless marble statue from that period has appeared, since 1884, in the Louvre, Paris. The reverse features the national arms of Mexico. Of Aztec origin, it is a drawing of the Golden Eagle, Aquila Chrysaetos, on top of a prickly pear cactus eating a snake. It marks the spot where the Aztecs, after much wandering, built their city near a lake, the place today known as Mexico City.
“El Angel,” on the obverse, stands before two mountain volcanoes in the background. On the left is smoking mountain Popocatepet, representing an Aztec prince. On the right is sleeping lady Ixtaccihuatl, representing the Aztec princess. They fall in love, but, being from different tribes, are exiled. The right side has the year the coin was minted and the left side has the year of Mexico's Independence, 1821.
After reaching popularity during the 1970s, the 50 Pesos Centenario, however, was soon eclipsed by the more popular Krugerrands. The Centenario has lower premium and popularity as other standard bullion coins today, such as the American Gold Eagles or the Canadian Gold maple Leaf coins. Refurbished dies produced 300 high-graded coins in 1996.