Libertad
Also: Mexican Libertad, Onza Libertad, Plata Libertad, Oro Libertad
The Libertad is an official Mexican bullion coin in gold or silver, minted by the Casa de Moneda de México and recognised worldwide as a bullion coin.
The Libertad is the official precious metal bullion coin of Mexico and is among the best-known bullion coins in the world. It is issued by the Casa de Moneda de México — the oldest continuously operating mint in the Western Hemisphere, founded in 1535. The name "Libertad" (Spanish for freedom) is also its message: the coin bears the Mexican coat of arms on the obverse and on the reverse the winged goddess of victory — the Angel of Independence — set against the volcanic massif of Popocatépetl and Iztaccíhuatl.
Specifications and denominations
Both variants — silver and gold — are struck with a fineness of 999/1000, meeting the standard of modern bullion coins.
| Variant | Denominations (troy ounces) | Fineness |
|---|---|---|
| Plata Libertad (silver) | 1/20, 1/10, 1/4, 1/2, 1, 2, 5 oz | 999/1000 |
| Oro Libertad (gold) | 1/20, 1/10, 1/4, 1/2, 1 oz | 999/1000 (since 1991) |
The 1-ounce silver Libertad is the most common denomination and is aimed at both investors and collectors with its value closely tracking the silver price. In addition, limited proof editions in mirror finish (polished plate) have been released for years, which can command premiums over the pure melt value for collectors.
Special features and market position
The Libertad is legal tender in Mexico with a symbolic face value (the 1-oz silver variant carries 10 pesos) that is far below its metal value and plays no role in trade — similar to the American Eagle. Unlike the Krugerrand, which carries no face value at all, the Libertad continues the Mexican Onza tradition as a state-recognised bullion weight coin.
Material value (silver) = Weight in troy ounces × current silver price (troy oz)
= 1 oz × spot price + premium (agio)
The premium over the spot price varies for the Libertad depending on the year and condition. Mintage years with low production runs — particularly in the early 1990s — trade at significant premiums among collectors and approach the numismatic realm.
Authenticity and testing
Like all high-quality silver coins, the Libertad should be checked for weight and dimensions. The Coin Weight Checker helps compare the target weight with the actual weight. In cases of uncertainty, a ping test or professional density measurement is also recommended.
Tax classification
In Germany, the silver Libertad as a silver coin is subject to VAT (19 % VAT; investment gold is exempt under § 25c UStG, silver is not), unless the dealer's margin scheme applies. Gains from private sales are free of income tax after a holding period of more than one year (§ 23 EStG, private disposal transactions). This is not tax or investment advice — please clarify your individual situation with a tax adviser.
Key takeaway
The Libertad combines Mexican cultural heritage with a solid bullion standard: 999 fineness, government guarantee and one of the oldest mints in the world make it a serious alternative to the Krugerrand or Maple Leaf — with the special appeal of some sought-after low-mintage years for collectors.