Gold Price in Mexico Today

Centenario, Libertad and the smaller gold pesos

In Mexico, the gold price most people check is the price of a Centenario or a Libertad, not a gram of jewelry. Banks and exchange houses quote a buy and a sell price for both, and those quotes move with the international price and the peso.

The Centenario was first minted in 1921 to mark the centennial of Mexico’s independence. It was struck until 1931, and large numbers of restrikes dated 1947 were made later, which is why most Centenarios on the market carry that date. The obverse shows Winged Victory with the volcanoes Popocatépetl and Iztaccíhuatl behind her, and the reverse carries Mexico’s coat of arms. Libertads also come in fractional sizes down to 1/20 oz, which carry higher premiums per gram.

More on the coin is on the 50-peso Centenario page.

The smaller Mexican gold coins

Mexico’s older gold coins follow one system: every coin is 90% gold, and its weight is proportional to its face value. That makes the gold content easy to work out once you know the Centenario’s.

The smaller coins are popular as gifts and for people who want gold in small units. Their premium over gold value is usually higher than the Centenario’s, and the 2 peso coin is small enough to be easily lost.

The mint behind them

The coins are made by the Casa de Moneda de México, founded in 1535 and the oldest mint in the Americas. It also strikes the silver Libertad, which is far more widely held than the gold version.

Checking quotes and buying or selling in Mexico

1. Take the international price per ounce in dollars.
2. Multiply by 1.2057 for the gold content of one Centenario.
3. Multiply by the peso rate for its value in pesos.
4. Compare with the bank’s selling price; the difference is the premium and spread.

At an example $3,000 per ounce and 18 pesos per dollar, a Centenario contains about MX$65,108 of gold. If a bank sold it at an example MX$70,000 and bought back at MX$63,000, the round trip would cost MX$7,000 even if gold did not move. Those are illustrations; check live quotes before buying.

The key number is 1.2057, the troy ounces of pure gold in one Centenario. Once you know it, any quote can be checked in seconds. The ounce price to start from is on the gold price today page.

Why the peso matters as much as gold

The peso floats, so a Mexican buyer faces two prices at once. A weaker peso lifts the Centenario even when gold is flat in dollars, and a stronger peso does the opposite. Many Mexicans buy Centenarios partly as a hedge against the peso, which is exactly why the coin can rise sharply during currency stress.

Buying and selling gold in Mexico

Banks sell and buy Centenarios and Libertads at posted prices, and casas de cambio and coin dealers in the big cities do the same. Guadalajara is a major jewelry-manufacturing center, and Mexico City has large jewelry districts in the historic center.

• Compare both the buy and sell price; a low selling price with a poor buyback is not a bargain.
• Keep coins in capsules; scratched or cleaned coins can fetch less.
• Dealers must identify customers above certain amounts under Mexico’s anti-money-laundering law, so bring identification.
• Ask for a receipt that lists the coin, quantity and price.

Arras and family gold

At Catholic weddings in Mexico, the groom gives the bride the arras, a set of thirteen coins that symbolize shared wealth. Many are gold-colored tokens, but some families use silver or gold coins and keep them as heirlooms. Centenarios and smaller gold pesos are also classic gifts for baptisms and quinceañeras, which is one reason so many are held in private hands.

Jewelers price by the gram, banks by the coin. When comparing, turn both into pesos per gram of pure gold: divide a coin’s price by its fine gold content in grams, or divide a jewelry price per gram by the karat fraction.

For the Spanish version of this page, see precio del oro en México.

Jewelry karats and oro laminado

Mexican jewelry is sold mostly in 10K and 14K, with 18K for finer pieces. Look for 10K / 417, 14K / 585 or 18K / 750. Jewelers generally quote per gram by karat, and the price includes labor.

• Oro laminado and chapa de oro are plated or filled, not solid. They have almost no scrap value.
• Jewelry sales carry IVA at 16%; for coins and bullion, check current rules.
• Taxco is famous for silver, stamped 925, not gold.
• Old family jewelry may be unmarked; a buyer will test it before making an offer.

Pawnshops (casas de empeño) lend against gold jewelry across Mexico, valuing it by weight and karat and lending a share of that value. As elsewhere, the loan is well below the melt value, and unredeemed pieces are sold. Compare the interest and fees as well as the amount offered.

For the value of the most common grade, see the 10K gold price.

Worked example: an 8 g 14K chain

The chain holds 8 × 0.585 = 4.68 g of pure gold. Multiply by the 24K price per gram in pesos from the table above for its melt value. A buyer will pay somewhat less; a jeweler will charge considerably more for a new one, since labor and IVA are added.

The 14K equivalent in dollars is on the 14K gold price page.

Mexican gold and U.S. buyers

Centenarios are well known in the United States, especially in border states, and many Mexican-American families hold them. For U.S. tax purposes, gold coins held as an investment are collectibles, so long-term gains are taxed at a maximum federal rate of 28% rather than the lower capital gains rates.

• Coins bought in Mexico must be declared to CBP on return.
• The personal exemption applies to their value; amounts above it may be dutiable.
• There is no limit on how much gold you can bring in, but it must be declared.

Common mistakes

• Treating a 1947-dated Centenario as rare; it is the common restrike date.
• Paying a collector price for a cleaned or damaged coin.
• Buying oro laminado thinking it is solid gold.
• Comparing a bank’s selling price with another bank’s buying price.

Short glossary

• Onza: ounce; kilates: karats.
• Centenario: the 50-peso gold coin.
• Libertad: the bullion coin in gold and silver.
• Oro laminado and chapa de oro: plated or filled gold.
• Casa de cambio: exchange house.
• Casa de empeño: pawnshop.
• Arras: the thirteen wedding coins given by the groom.
• Casa de Moneda de México: the national mint, founded in 1535.

Other currencies are on the gold price by country list.