I have several Mexian Silver Onza Coins that contain 1 troy ounce of sliver and are .925 pure. Total weight is 33.625 grams and the front features a coin press with the words "CASA DE MONEDA DE MEXICO". There is a picture of a scale on the obverse and they were minted in 1949, 1978-1980. I can buy these at the spot silver price and consider them a bullion purchase. Do any of you have any experience with these coins? It does not bother me that they are not 99.999 pure (they still contain 1 pure ounce of silver) but what is your opinion of their marketability in general?
I have several of these, as when uncirculated they are an extra beautiful coin. I have never had any problems buying and selling them near spot, but I am in a border area as you might be, and I think they exchange easier here than mid USA, if that makes a difference. Jim
They are nice looking. May be harder to barter with if the need arises but as previously pointed out it may depend on where in the country you live.
Bullion dealers like Provident and Apmex sell such coins for plenty more than spot silver price. The Onzas may be a little less convenient to liquidate compared to govt. issued Eagles, Maples, Libertads, et al. but they're also a bit different with interesting designs compared to other generic non-govt. issued bullion coins. It's always nice to have diverse holdings, especially if you have different places to resell, or the preferences of buyers changes in the future. Basically, if you are getting them at a better price than others, this is a good use of your investment dollars and the coins are at least more recognizeable plus bear the hallmarks of their purity than those from a private mint.
Thanks for the input, I live in Texas and can buy these exactly at spot (mine are all circulated). I think Texas proximity to Mexico makes the Onza very cheap to buy (at spot = no premium). My thinking has been in line with Krispy's comments, these are a good value and are the only form of silver I have found that I can buy without paying any premium. Thanks again for your thoughts!
ive been snapping up some mexican junk lately because of price. i snagged a BU roll of thes 1968 olympic pesos, came out to $25.xx/oz. then last week i snagged 175 of these 5 peso cuatemoc coins that came out to $22.xx/oz my thinking that if you can buy at or under spot then it is a no brainer.
there seems to be many different types of those scale coins too, some of them get pretty high. http://www.apmex.com/Category/904/Silver_Coins_from_Mexico_all_other_coins.aspx
Nice 9guns, are you buying these in the southern US? I'm waiting for another pullback under $28/oz before I snatch up some more Onza's.
