Finding Mexican 100 Peso Silver Coins in the Wild: A Cherry Picker’s Guide

The Hunt for Mexican Silver Treasures

Sometimes the best finds come from unexpected places. Here’s what to look for when searching through circulation or bulk lots.

The Mexican 100 peso silver coin, with its distinctive silver center, is a true numismatic treasure that occasionally surfaces in the most surprising locations. These coins, featuring the iconic Mexican eagle on one side and various state designs on the other, represent a fascinating chapter in Mexican monetary history when silver briefly returned to everyday circulation.

Historical Significance

Issued with a face value of 100 pesos, these coins carried silver content worth significantly more than their nominal value. As one collector noted, even back in 2004, the silver content alone was worth more than $5.50 USD. This creates an interesting dynamic where the coins were technically legal tender but had inherent value that exceeded their face value.

Identifying Key Markers

When roll hunting or searching through bulk lots, look for these distinctive features:

• Silver center: The most obvious feature is the sterling silver center surrounded by a copper-nickel ring
• State designs: Various state emblems appear on different issues, making them collectible as both silver bullion and commemoratives
• Dating: Most circulated examples date from the 1980s-1990s
• Weight and feel: The bimetallic construction gives these coins a unique heft and feel compared to standard circulation coins

Where to Find Them

Based on collector experiences, these coins can occasionally be found in several places:

• Bank rolls: One collector reported getting one at face value from a bank teller who was happy to exchange it
• Bulk coin lots: Estate sales and coin dealer junk boxes are prime hunting grounds
• Foreign coin collections: People who collect world coins often have these in their holdings
• Circulation: Though rare, worn examples do exist, proving they occasionally circulated

Understanding Their Circulation History

The circulation history of these coins is particularly interesting. Banks sold them at face value, but this doesn’t necessarily mean they circulated widely. As one forum member explained, they were minted in quantities insufficient for regular circulation, and Gresham’s Law ensured that most were kept rather than spent.

However, the existence of worn examples proves they did occasionally circulate. One collector shared a photo of a heavily worn specimen that clearly saw extensive use, demonstrating that not everyone immediately recognized their silver content or chose to hoard them.

Similar Issues Worldwide

Mexico wasn’t alone in issuing face-value silver coins. Other countries have done similar things:

• Australia’s $5 aluminum bronze coins from 1988
• France’s 10 franc silver coins from 1965-1973
• Germany’s 5 and 10 deutsche mark silver coins from the 1970s
• Canada’s $20 for $20 silver coins from 2011-2015
• Great Britain’s £20 for £20 silver coins from 2013-2016

As one collector humorously noted, “everybody except for Australia did it with silver coins.”

Value Guide

The value of these coins varies significantly based on condition:

• Face value: 100 pesos (approximately $5-6 USD)
• Silver content: Worth significantly more based on current silver prices
• Collector value: Premium for uncirculated or rare state designs
• Worn examples: Still worth more than face value due to silver content

Cultural Context

Mexico has a long and proud history of silver coinage, being the world’s largest silver producer. As one Mexican collector explained, people often kept these coins as savings or investments rather than spending them. This cultural context helps explain why so many remained in pristine condition.

The Mexican government’s attempt to include silver in circulating coinage followed a progression from 5 pesos to 10, 25, and finally 100 pesos denominations. Each time, the denomination was increased as inflation made the previous silver coins impractical for circulation.

Authentication Tips

When examining potential finds, be aware that counterfeits exist. Look for:

• Proper weight and dimensions
• Clear, sharp details on both the silver center and outer ring
• Consistent coloration between known genuine examples
• Proper reeding on the edge

Conclusion

The Mexican 100 peso silver coin represents an interesting intersection of bullion value and circulating currency. While they were technically issued for circulation, most were quickly recognized as having greater intrinsic value and were removed from active commerce. However, the occasional worn example still turns up, proving they did see some circulation.

For the dedicated roll hunter or cherry picker, these coins represent an excellent opportunity to find hidden silver value in unexpected places. Whether you’re searching through bank rolls, estate sales, or bulk coin lots, knowing what to look for can lead to some rewarding discoveries. The combination of historical significance, silver content, and occasional circulation makes these coins a fascinating target for collectors and investors alike.

Related Resources

You might also find these related articles helpful:

• Smart Buying Guide: How to Buy Mexican 100 Peso Silver Center Coins Without Getting Ripped Off – Historical Significance If you’re looking to add this to your collection, you need a strategy to get the best deal…
• Can Mexican Silver-Centered 100 Pesos Be Made Into Jewelry? A Crafter’s Guide – Introduction: A Collector’s Dream for Crafting For jewelry makers and coin enthusiasts alike, the Mexican 100 Peso…
• Preserving Mexico’s Silver Commemorative Coins: A Collector’s Guide – Historical Significance I’ve seen too many valuable pieces ruined by improper cleaning or storage. Here is how to …