Mexico 1980 peso
By the late 1970's, the Mexican economy was running into trouble. Political mismanagement, corruption, an antiquated tax structure were feeding inflation. Coin types, once stable in the early part of the century, began turning over more rapidly as inflation ate away their purchasing power. While this gave employment to coin designers and engravers, it limited their scope of action as progressively cheaper alloys were adopted. The peso, originally a large silver coin (KM 453), progressively shrank (see the 1943 peso) until this design appeared 1970-83, containing no silver at all. The portrait is of Miguel Hidalgo, hero of the War of Independence (1810-21).
Recorded mintage: 318,800,000 (closed 8, shown here) plus 23,865,000 (open 8).
Specification: copper nickel, 29 mm diameter, reeded edge.
Catalog reference: KM 460.
- Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.