1828 Mexican 8 Escudos Gold Coin: Value & Prices

If you have an 1828 Mexican 8 Escudos gold coin, you are holding a piece with real value. This is not a common pocket coin worth a few dollars. It contains almost a full ounce of gold, which sets a hard price floor, and as an early Mexican Republic gold piece it carries a collector premium on top of that. In 2026, even a worn example is worth well over 1,500 USD in metal alone.

What this coin actually is

The 8 Escudos was the largest gold denomination struck in Mexico. The 1828 date belongs to the early República Federal Mexicana (Mexican Federal Republic), the period right after independence when the new nation began minting its own gold. Collectors call this the "Octaval" type. The design carries the eagle on a cactus on one side and a hand holding a liberty cap over a book on the other, the classic early Republic motif.

This particular date is considered scarce, which matters. Scarcity plus gold content is what pushes a coin like this well above its melt value.

Specifications (verify yours against these)

That 27.04 grams at 0.900 fineness works out to roughly 0.78 troy ounces of pure gold. At current gold prices, the metal alone is worth well over 1,500 USD. That number moves with the gold market, but it is your absolute floor: this coin will never be worth less than its gold content.

What it is worth by grade

Value climbs sharply with condition and with the appeal of the specific mint and assayer combination. As a rule for early Mexican gold:

• Circulated, heavily worn: driven mostly by melt value, typically 1,500 to 2,500 USD depending on the gold spot price.
• Nice circulated (clear detail, minimal damage): a collector premium kicks in, often 2,500 to 5,000 USD.
• High grade / uncirculated, certified: genuinely scarce early-date examples in top condition can reach five figures at major auction.

Because this is a precious-metal coin, two things decide where in that range yours lands: the gold spot price on the day you sell, and the grade. Check our Mexican coin grading guide to place your coin before you get an offer.

How to tell if yours is genuine

Counterfeits of early Mexican gold are common, so verification matters before any money changes hands.

1. Weigh it. Use a jewelry scale. A genuine coin should be very close to 27.04 grams. A lightweight coin is a red flag.
2. Measure the diameter. It should be 36.5 mm. Check the edge for diagonal reeding.
3. Study the engraving, mint mark and assayer initials. Early Republic gold has specific style details for each mint and assayer. Fakes often get the lettering or eagle slightly wrong.
4. Be suspicious of any offer far below the metal value. No informed seller gives away almost an ounce of gold cheap, and no honest buyer needs to.

If you want a second opinion, professional grading through NGC or PCGS confirms authenticity and grade, and a certified coin sells for more with far less friction.

Where to sell it

Because of the gold content, sell to someone who inspects the coin and its weight in front of you, and verify before you take payment.

• A verified numismatic dealer from the Pesoteca directory can appraise it on the spot.
• The Pesoteca buy-and-sell forum connects you directly with collectors.

Photograph the obverse, reverse and edge, note the weight, and compare against the range above before you accept any offer. Do not dump it to the first buyer on social media.

Got one in an inherited box and not sure what you're looking at? Post clear photos of both sides in the Pesoteca forum and let the community help you pin down the grade and value.

Eight escudos octaval Mexican Republic, 1828, Mexico Mint. The entry declares the piece scarce, a sign of low mintage or reduced survival for the year. The year of the Republic's first serious political crisis: in September presidential elections were held that gave victory to Manuel Gomez Pedraza, but the result was annulled by the Acordada revolt of December led by Lorenzo de Zavala and Vicente Guerrero. Vicente Guerrero assumed the presidency in 1829. It was the first breakdown of the post-independence constitutional order and foreshadowed the cycle of military coups that would dominate the rest of the century. The onza weighs 27.06 grams with 0.875 fineness. Krause KM#383.9 is kept. Produced by mill with a round planchet. The obverse shows the republican eagle atop a nopal with a serpent and the reverse the arm with sword and Phrygian cap, French liberal iconography adapted to the early Mexican context. The assayer signature continues, the same mark since the First Empire. The declaration of scarcity in the entry increases the collectible value of the example. Pieces from 1828 document the first moment when the young Republic showed serious institutional fragility.