Investing In Mexico Gold Coins
How to Buy Gold Mexican Centenario Coins
As a safe haven or store of wealth in troubled times, GOLD has never looked better!
A great but lesser known alternative is the 50-peso gold centenario from Mexico.
We created this FAQ because we ourselves were interested in buying these coins
but we could find very little information about them out there on the internet.
FAQ ON BUYING MEXICAN CENTENARIO GOLD BULLION COINS
Where Can I Buy Mexican Centenarios?
In Mexico, of course! You can buy these coins over the counter, in cash, at most
banks and money exchange houses (known in Mexico as casas de cambio). Many of them
will have these gold coins in stock. Big Mexican banks include BBVA Bancomer, Banorte
and Santander. Smaller banks are IXE, Mifel, Bansi, and Banjercito which is owned by
the Mexican armed forces but is open to the public. Casas de Cambio include Banco
Monex, Intercam, Sterling Casa de Cambio, Consultoria Internacional (now known as
CI Banco ) and ByB Casa de Cambio. Banco Azteca, located in the ‘Elektra’
electrical stores, also sells bullion coins but usually their stocks are very
limited. Banco Azteca however is a great place to buy Mexican silver bullion coins.
Banco Azteca are also present in Panama.
Where Can I check Current Buy and Sell Rates for Mexican Centenarios?
We recommend the site of Banco Nacional de Mexico (Mexico’s biggest bank, part
of Citigroup, which is better known as Banamex) you will see they have a daily
buy and sell rate for Centenarios.
Can ordinary small investors buy Centenarios?
Yes. Anyone, Mexican or non-Mexican, no matter where you live, you can buy
these gold coins. There are no restrictions. Ordinary people find them attractive
for savings purposes.
In which currencies are Mexican Centenarios quoted?
Typically the price is quoted in Mexican Pesos (the international
currency code is MXN) but once you are there you can pay normally pay in
other major currencies including US dollars, Canadian dollars and Euros.
Of course, the price depends on the world price of spot gold, as Mexico is
part of the global economy.
Can I buy Mexican Gold Centenarios with a Credit Card?
Most people prefer to pay with cash or travellers checks. However, all
Mexican banks allow you to use foreign or domestic Visa or MasterCard credit
cards. If you buy Centenarios with a credit card, however, you will be charged
as if you are requesting a cash advance, not a retail purchase. If you are traveling
to Mexico especially to buy coins, it is advisable first to call your bank or credit
card company at home and tell them that you will be requesting large cash advances in
Mexico, otherwise the transactions might be blocked by your bank’s automatic fraud
Do I need to show ID when I buy Gold Bullion Coins in Mexico?
In theory it is not obligatory, however for larger transactions you are likely
to be asked for a passport or other form of government issued ID.
Can I buy Centenarios online without having to travel to Mexico?
Yes, it is possible, if you can find a dealer willing to ship internationally.
However this may be difficult, especially if you do not speak Spanish. International
shipment of gold coins is a complicated matter. Shipping companies like UPS, Fedex
and DHL will not accept gold bullion shipments, while the Mexican Postal Service
(Sepomex) is not reliable and their insured mail rates are extremely expensive.
It is therefore advisable to travel to Mexico in person.
Is it Physically Safe to Buy Gold in Mexico?
This of course is a major concern for most people. I think if you take reasonable
precautions it is safe. If you are thinking of buying a lot of gold coins for export,
you can travel to Mexico City airport. There within the security of the airport terminal
you will find branches of most of the banks and casas de cambio linked above. However,
how much gold they actually have in stock I don’t know. It would certainly be wise to
Can I buy Mexican Centenarios in border states such as Texas or Arizona?
Yes, it is likely you can find coin dealers along the US border and in major US
cities selling these coins in smaller quantities. Most of them, however, are to be
found within Mexico.
Can I buy Gold Coins by Wire Transfer in Mexico?
Yes, absolutely. Generally it is easier and quicker with one of the casas de cambio
mentioned above. Simply ask them for their wire details.
How much gold does the Centenario actually contain?
One Centenario contains 37.5 grams (1.2057 oz) of pure gold. Like most coins from
major mints, the coins are an alloy of 90% gold and 10% copper.
What is the difference between the Mexican Centenario and the American Eagle?
The Centenario is 20% bigger than the American Eagle which contains 1 ounce of gold.
What does the design on the Centenario represent?
One side of this Mexican Gold Coin (50 Pesos) has an image of Winged Victory. There is
a laurel wreath in her right hand, and broken chains in her left hand. Two well-known
Mexican volcanoes, Popocatepetl and Iztaccihautl, rise in the background. The year 1821
commemorates the year of Mexico's independence. The date on the right indicates year
of mintage of the coin, which of course can vary. The reverse depicts the Mexican Coat
of Arms, which is an eagle perched on a cactus eating a serpent using its beak.
Do I have to Declare Gold Coins to Customs when entering or leaving Mexico?
According to my understanding of the law, these coins have a face value of 50 Mexican Pesos which is about $5 in US funds. If that is right, you would have to declare them if you carry more than $10,000 worth (US dollars) at face value. But I may be wrong. You should check on this or take legal advice, or simply ask a customs inspector as you pass through the airport or border post. The question is simply whether you should declare them. It is not illegal to carry them.
Does Mexico charge sales tax or VAT on Gold Coins?
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