Mexican 100 Pesos Silver Bimetallic Coin (States Series, 2nd Phase)

If you inherited or found a large Mexican 100 pesos coin with a silver center and a golden ring, you own a piece of the Estados de la República series (States of the Republic), 2nd Phase. In circulated condition most sell for roughly 25 to 45 US dollars, driven mainly by the silver core. A pristine, certified example can bring more. This is not a rare six-figure coin, but it is real silver with a genuine floor.

What you actually have

This is a bimetallic (two-metal) commemorative 100 pesos coin issued by Banco de México (Banxico), the country's central bank. It is a substantial piece: 33.7 grams and 39 mm across, close to the size of an old US silver dollar. The center is .925 sterling silver; the outer ring is aluminum-bronze, which gives it that gold-and-silver contrast. That silver core is why the coin has a value floor, and it is also the part that scratches and dulls with handling.

The series honors each of Mexico's 32 states. The 1st Phase used each state's heraldic coat of arms. The 2nd Phase, the one covered here, dropped the coats of arms for emblematic designs: a landmark, monument, or symbol tied to each state. Collectors tend to prefer the 2nd Phase because the imagery is more varied and eye-catching. These coins were struck between 2005 and 2007, and each year carries small die differences that die-hard collectors track.

How much is it worth?

The honest answer: value swings hard on condition. The silver core is the anchor.

Condition	What it means	Typical value (USD)
Circulated, dull silver	Scratched center, handled	25 to 40
Uncirculated, clean silver	No wear, bright core	40 to 70
Certified MS (NGC/PCGS)	Graded, slabbed	70 to 150+

A few notes on those figures. The silver alone (roughly the sterling core weight) sets the bottom, so even a beat-up example is not "a few cents." A certified coin in a top Mint State grade sells for a real premium over a raw one, because buyers pay for a guarantee of authenticity and grade. If you have the full 32-coin set with clean silver centers, the set as a whole is worth more than the sum of loose pieces, since complete runs are what serious collectors want.

The official mintage for individual pieces in this issue is not published by Banxico. When a central bank does not release a figure, it usually means the coin came out in limited numismatic sets or a small, targeted issue. Forum figures float around, but none are confirmed, so treat any "only X ever made" claim with skepticism.

The myth to ignore

Because this coin is big, heavy, and "old-looking" to a US eye, people assume it must be worth hundreds or thousands. It is not. It is a modern commemorative from the 2000s with real silver content, valued mostly for that silver plus modest collector demand. There is no secret variety that turns a normal circulated example into a fortune. What can add value is a genuine, verifiable mint error (off-center strike, die rotation, double strike). Most "errors" posted online are post-mint damage: dings, corrosion, cleaning scratches. Those subtract value, they do not add it.

How to tell if yours is genuine

Start with the specs, because fakes usually miss them:

• Weight: 33.7 grams. Use a small digital scale. Off by more than a fraction of a gram is a red flag.
• Diameter: 39 mm.
• Two real metals: a distinct silver center bonded to an aluminum-bronze ring, not a coin painted or plated to look bimetallic.
• Relief: compare the sharpness of the design against official Banxico images. Counterfeits tend to look flat and mushy.
• Edge: check the reeding and the seam between the two metals under good light.

For a valuable example, the definitive answer is professional grading. Submitting the best coin in your group to NGC or PCGS (the two leading US grading services) gets you a sealed holder that certifies both authenticity and grade, which is exactly what buyers pay extra for.

Where to sell it

• US coin dealers and shows: any dealer who handles world or Mexican silver will make an offer. Bring the coin clean but do not polish it (polishing destroys value).
• eBay and online marketplaces: you can reach collectors directly, but so can counterfeiters, so buyers scrutinize photos. Post the front, back, and edge, and list the exact weight.
• Certified sale: if the coin grades well, selling it slabbed removes buyer doubt and lifts the price.

Check a couple of recent completed sales for the same coin and grade before you accept any offer. That is the fastest way to know if a dealer's number is fair.

If you have the full 32-coin States Series or think you spotted a real mint error, post clear photos on the Pesoteca forum and let collectors weigh in before you sell anything.