A coin with a minting error is offered for up to 500 thousand pesos: an expert gives the real cost

A coin commemorating the beginning of Mexico's independence and with a minting error is offered at a huge price, through an internet trading platform. Although according to one expert, such a piece should be purchased at less than 300 pesos.

Next, we will explain what is the damage it has, according to the Banco de México, as well as the characteristics of this specimen in which a historical figure is observed on one of its faces.

And it is that although people can market their coins at the cost they prefer, since they are objects they own, in some cases the owners of the copies offer the pieces at exorbitant prices and according to specialists, they are not worth them.

The piece we refer to is commemorative. According to the Banco de México (Banxico), it is one of the 37 coins that were minted as a tribute to the two historical events, that is, 19 of Mexico's Independence and 18 of the Mexican Revolution, which began circulating from 2008 to 2010.

They have different characters, but this time the coin with a coinage error, which we will talk about in this space, has a denomination of five pesos, was created in honor of the Bicentennial of Independence, and bears the image of Francisco Primo de Verdad y Ramos, one of the most important promoters and defenders of the social contract and popular sovereignty in New Spain.

Faced with the abdication of the Spanish monarchs due to the Napoleonic invasion of the Iberian Peninsula, many Mexicans considered that, like any other subject of the Spanish Crown, they had the right to establish a provisional government that would exercise the authority abandoned by the King.

In 1808, Viceroy Iturrigaray summoned notables of the viceroyalty to establish this government, highlighting the figures of Francisco Primo de Verdad (then trustee of Mexico City Council), Francisco Azcárate and Melchor de Talamantes. In response to this first attempt to establish a government independent of any peninsular authority in Mexico, the Yermo roadhouse broke out which led to prison, among others, Mr. Primo de Verdad, who died captive shortly after. For this reason, Francisco Primo de Verdad has been considered protomartyr of national independence.

What is the coinage error?

According to Banxico, there are two varieties of this currency: one with points, which was established in the corresponding decree, and another without points. The dots are located on the back, that is, on the side where the character is located, and are located at the ends of the legend “MEXICO 2010″.

The coin without points was a defect or error in the minting process. Numismatically, this type of piece, having different characteristics, acquires another value in the market, which is not established by the Banco de México.

In a sense, a specialist shared that this piece better known as “the special”, since it does not have two points that the others carry on the bottom of the coin, can be offer up to 200 pesos, because it is different.

While the others are still worth only five pesos, despite being commemorative, as explained by the expert.

However, one person offers it at an exorbitant price for the Mercado Libre site, where it was discovered that it is quoted at up to 500 thousand pesos, according to a person who shared the image.

Even netizens reacted with anger and ridicule to the high cost. They wrote phrases like:

“Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha right now a kilo of lemon and avocado together are worth more than your coin”, “it shows that you have eaten us ask for more daddy”, “what did you smoke, I have 8 without cincurlating I sell them to you at 500 c/i would you do the business of your life”, “cousin “, really,,, that's the price? I have 50 coins, I'm already a millionaire and I didn't know it, I sell you coins for 250000 and that's how you earn him twice as much”, among other comments.

According to numismatics specialists, coins must contain certain elements in order to acquire greater value.

KEEP READING