1/20 Ounce Libertad Gold 1991

The 1991 1/20 ounce Libertad is the smallest fraction of the gold family struck by the Casa de Moneda de Mexico (the Mexican Mint). It is made of 0.999 fine gold, weighs 1.57 grams, and measures just 12.95 millimeters in diameter, with a reeded edge. It is, literally, pure gold that fits on the tip of your finger, and that combination of tiny size and fine metal makes it a very particular piece within the series.

The Libertads share the design we all recognize: the Angel of Independence with the Popocatepetl and Iztaccihuatl volcanoes in the background on the reverse, and the National Coat of Arms on the obverse. The gold series was issued in several fractions, from the full ounce down to this 1/20, meant both for the investor looking for fractional gold and for the collector who wants to assemble the entire set. The year 1991 belongs to the first modern issues of the gold Libertad, which gives it a starting place in any collection of the series.

With the small fractions, the appeal lies in how scarce the material struck in those sizes tends to be and in the state of preservation, which here rules over almost everything else. A 1/20 in good grade, without marks in the fields, is valued higher than its gold weight would suggest. It is the kind of piece that rounds out a set of fractions or serves as an entry point into Libertad gold without straining your budget too much.

This piece is a 1/20 oz gold Onza Libertad minted in 1991 in regular finish (bullion satin). The series was created by decree in the DOF of April 8, 1981, and added the 1/2, 1/4, 1/10, and 1/20 fractions from 1991.

Carlos Salinas. The year the gold series added the 1/2, 1/4, 1/10, and 1/20 fractions to the original 1-ounce catalog of 1981. Gold spot averaged 362 dollars per ounce.

Fraction: pure gold 1.555 grams, fineness 0.999, total weight 1.73 grams, diameter 20 millimeters. The 1/20 is the smallest fraction and the gateway to physical gold. It began to be minted in 1991. Premium over spot of 15 to 25 percent, the highest in the family.

Regular (bullion satin): matte-brilliant fields and satin relief, a single press strike. Wholesale distribution for physical gold investment, the largest mintage of the year and the natural benchmark for premium against spot.

Banxico CM10 does not publish mintages prior to 2000; the data are consulted in Krause (KM#630 to KM#674 depending on year and fraction).

The regular is bought for its gold content with a low premium over spot. Check weight, diameter, and reeded edge; compare the premium against Banxico Direct before accepting a middleman.