The 1971 Mexican un peso is an iconic coin rich in history and symbolism. Minted in large quantities, it remains one of the most common and affordable vintage Mexican coins today – yet it is an essential piece for any serious peso collection.
Whether you‘re a seasoned collector or just starting out, this in-depth guide will tell you everything you need to know about the 1971 un peso. We‘ll cover its historical context, how to identify and grade it, and what you can expect in terms of value. You‘ll also get expert tips for buying and selling this classic coin.
So let‘s dive in and take a closer look at the 1971 un peso, an enduring emblem of Mexico‘s numismatic heritage!
The Origins of the Mexican Peso
To fully appreciate the 1971 un peso, it helps to understand the broader history of Mexican coinage. The story begins in the 16th century, when Mexico was still a Spanish colony known as New Spain.
In 1535, the Spanish crown established La Casa de Moneda de México – the first mint in the Americas. Located in Mexico City, it initially produced silver and gold coins for use throughout the Spanish Empire.
As Spain‘s power waned in the early 19th century, Mexico gained independence in 1821. The young nation kept the Spanish "peso" as its monetary unit (from the Spanish word meaning "weight"). These first pesos were divided into 8 reales.
In 1863, Mexico decimalized its currency and began minting pesos divided into 100 centavos. This system endured over a century until 1992, when the Bank of Mexico introduced the "nuevo peso" at an exchange rate of 1 new peso to 1000 old pesos.
Quick Pesos Timeline:
– 1535: First Mexican mint established under Spanish rule
– 1821: Mexico gains independence, keeps peso currency
– 1863: Peso divided into centavos
– 1992: "Nuevo peso" replaces old peso at 1:1000 rate
So while the 1971 un peso is part of a long Mexican monetary tradition, it actually comes from near the end of the "old" peso‘s lifespan. Now let‘s zero in on the specifics of this coin.
1971 Un Peso Coin Design Features
The 1971 un peso was part of a series of one-peso coins with a shared design used from 1970-1983. At nearly 29mm in diameter and containing 75% copper and 25% nickel, its golden hue makes it a handsome addition to any collection.
Obverse (Front)
The obverse depicts the Mexican coat of arms – the iconic eagle perched on a cactus, devouring a serpent. This image comes from an Aztec legend and has featured on Mexican flags and currency since the 1800s.
Above the eagle, the motto "ESTADOS UNIDOS MEXICANOS" (United Mexican States) stretches in an arc. An oak and laurel wreath encircles the bottom portion of the coat of arms.
Reverse (Back)
The reverse centers on a bust of José María Morelos, a Catholic priest and revolutionary rebel leader during Mexico‘s War of Independence. The anniversary of his birth, September 30th, is celebrated as a civic holiday in Mexico.
Morelos faces right, wearing clerical robes and a distinctive bandana. "UN PESO" appears to the left of his likeness, while the 1971 date and Mexico City mintmark (M°) are to the right.
Other Details
The 1971 un peso weighs 9 grams and measures 1.77mm in thickness. It has a reeded edge with 124 reeds.
While the 1971 un peso is overall very common, some varieties are highly sought-after by specialists. In particular, 1971 pesos struck with 1972 dies command a significant premium due to their rarity.
1971 Un Peso Value and Rarity
With over 426 million minted, the 1971 peso is the most common copper-nickel un peso by a significant margin. It‘s readily available in circulation grades for under a dollar.
Here are the average retail values for 1971 un pesos in various states of preservation:
| Condition | Value |
|---|---|
| Good | $0.10 |
| Very Good | $0.25 |
| Fine | $0.35 |
| Very Fine | $0.50 |
| Extra Fine | $0.75 |
| AU | $1.00 |
| MS-60 | $1.50 |
| MS-65 | $5 |
As you can see, even high grade uncirculated examples are quite affordable. The current record price is $47 for an exceptional MS-67 specimen graded by PCGS in 2019. But anything over MS-65 is quite rare.
While most 1971 un pesos languish in dealer bargain bins, gem uncirculated pieces still deserve a place of pride in a serious Mexican type set. What‘s more, assembling a complete 1970-1983 un peso series in high grades makes for a fun and relatively affordable collecting challenge.
How to Grade 1971 Un Pesos
As we‘ve seen, a coin‘s condition or grade is key to determining its worth. While you‘ll want to have valuable coins authenticated by a third-party grading service like PCGS or NGC, it‘s handy to know the basics of coin grading yourself.
Circulated Grades
The most common 1971 un pesos are those that once saw heavy circulation. To the untrained eye, these coins may seem similar, but numismatists divide them into several categories:
- Poor (P-1): Barely identifiable
- Fair (F-2): Heavily worn, but major design elements visible
- About Good (AG-3): Outlines of most elements visible
- Good (G-4 to G-6): Designs visible, but well worn and lacking details
- Very Good (VG-8 to VG-10): Moderate to heavy even wear, clear designs
- Fine (F-12 to F-15): Moderate, even wear with most details visible
- Very Fine (VF-20 to VF-35): Light to moderate wear, all details clear
- Extra Fine (EF-40 to EF-45): Only light wear on highest points of design
So for a 1971 un peso, you might look for these diagnostics:
- How much detail remains in Morelos‘s hair, facial features and clothing?
- Is the lettering of "ESTADOS UNIDOS MEXICANOS" clear and distinct?
- How much luster remains on the fields (blank areas)?
- Do many marks, scratches or gouges appear on either side?
Uncirculated Grades
For mint state (MS) coins that never entered circulation, grading relies on factors like luster, contact marks, and overall eye appeal. The numeric grades range from MS-60 (bag marks and blemishes) to a flawless MS-70.
Some un pesos were minted as proofs (P) for collectors. Proofs are struck multiple times with specially polished dies and planchets, giving them sharper details and mirror-like fields. PR-70 represents a perfect proof coin.
Tips for Buying and Selling
If you‘re looking to purchase a 1971 un peso for your collection, you have plenty of options. Coin dealers and shows are great for hands-on browsing. Online marketplaces like eBay and Mercado Libre also have a decent selection, just be wary of counterfeits.
When buying raw (ungraded) coins, know how to spot fakes. Most fake un pesos are actually genuine coins from other years or denominations altered to pass as key dates. Check the fonts and details against known examples. If a deal seems too good to be true, trust your instincts.
For high-value coins, stick with reputable dealers and buy certified coins in PCGS or NGC holders. Auction sites like Heritage and Stack‘s Bowers also offer strong buyer protections.
When it comes time to sell, the same venues are your friend. For large collections and rarities, consider consigning to a major auction house – you‘ll generally get better results than selling piecemeal.
However you buy or sell, take the time to comparison shop and know the fair market value for your coin‘s date, mintmark and condition. Numismatic periodicals like Coin World and Bank Note Reporter are great for staying on top of the latest prices realized.
An Enduring Piece of History
More than just a means of commerce, every coin tells a story and reflects its time and place in history. The 1971 un peso, with Morelos‘s determined stare and Mexico‘s defiant eagle emblem, speaks to a proud nation forging its modern identity.
While not a rare coin in the grand scheme, the 1971 peso is still an important type coin for collectors of Mexican and world numismatics. Its ample mintage keeps prices reasonable and allows anyone to own a little piece of history.
Whether it‘s a well-worn memento of a Mexico City vacation or a brilliantly preserved gem for your type set, the 1971 un peso is a worthy acquisition. By understanding its background and value, you can collect smarter and appreciate it all the more.
Happy collecting!
