Libertad
Also: Mexican Libertad, Onza Libertad, Plata Libertad, Oro Libertad
The Libertad is a Mexican state bullion coin in gold or silver, minted by the Casa de Moneda de México and recognised worldwide as a bullion coin.
The Libertad is Mexico's official precious metal bullion coin and ranks among the best-known bullion coins in the world. It is issued by the Casa de Moneda de México — the oldest still-active mint in the Western Hemisphere, founded in 1535. The name "Libertad" (Spanish for freedom) is also its programme: the coin bears the Mexican coat of arms on the obverse and the winged goddess of victory — the Angel of Independence — on the reverse, set against the volcanic massif of Popocatépetl and Iztaccíhuatl.
Properties and denominations
Both variants — silver and gold — are minted with a fineness of 999/1000 and thus meet 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, with its silver price-linked value, appeals to investors and collectors alike. In addition, limited proof issues in mirror finish have appeared 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 lies far below the metal value and plays no role in trading — similar to the American Eagle. Unlike the Krugerrand, which has no face value at all, the Libertad thus continues the Mexican Onza tradition as a state-recognised 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 year and condition. Low-mintage years — particularly in the early 1990s — are traded among collectors at significant premiums and approach the numismatic sphere.
Authenticity and testing
Like all high-quality silver coins, the Libertad should be checked for weight and dimensions. The coin weight checker helps to compare the target weight with the actual weight. Where there is doubt, a ping test or a professional density measurement is additionally recommended.
Tax classification in Malta
In Malta, investment gold that meets the criteria of Directive 2006/112/EC (bars of fineness ≥ 995‰; coins of fineness ≥ 900‰, minted after 1800, legal tender or formerly legal tender in the country of origin) is exempt from VAT. The gold Libertad generally qualifies as investment gold. The silver Libertad, by contrast, is subject to the standard Maltese VAT rate of 18%, as silver does not benefit from the investment gold exemption, unless a dealer's margin scheme applies.
Malta levies no capital gains tax on private disposals of movable assets such as precious metal coins — Maltese capital gains tax applies only to specific categories of assets (immovable property, securities, business interests). There is no German-style speculation period. Not tax or investment advice — please clarify your individual situation with a tax advisor. Sources: cfr.gov.mt, legislation.mt, eur-lex.europa.eu.
In brief
The Libertad combines Mexican cultural heritage with a solid bullion standard: 999 fineness, a state 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 a few sought-after low-mintage years for collectors.