Silver News

Mexico Introduces 100-Peso Silver Coin - Circulating and Proof Coins Being Minted
November 21, 2003

(Washington, D.C. - November 21, 2003) Mexico's national mint, Casa de Moneda, has begun the introduction of a new 100-peso silver circulating coin. Additionally, the mint is issuing two proof versions of the coin.

The coin, which is already in circulation, celebrates the Union of the States of the Mexican Republic into one Federation. A total of 32 different coins will be issued - one each month through 2005, for each Mexican state, in reverse alphabetical order, with Zacatecas being first and finishing with Aguascalientes. This coin is bimetallic with the center of the coin being of 0.925 silver, and the outside ring of the coin an alloy of bronze and aluminum. Each coin contains 16.812 grams of silver. The Banco de Mexico will determine mintage levels, and it is believed that they will authorize 250,000 coins for each of the 32 states. This coin program could potentially consume over four million ounces of silver when completed in 2005.

A silver one-troy-ounce proof coin, with a 10-peso face value, will also be issued with a mintage of 10,000 coins. A bimetallic proof coin, with a face value of 100 pesos, made of gold and silver, will also be issued with a mintage of 1,000 coins.

Paul Bateman, Executive Director of the Silver Institute, said, "The Silver Institute has been meeting with the various mint masters of several countries in an effort to encourage the development of silver coinage programs. We are very pleased with the exciting new silver circulating coinage program underway in Mexico, and are hopeful that the trend continues elsewhere throughout the world."

In 2002, world fabrication demand for coins and medals grew by almost three percent to 31.1 million ounces.

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.

For Further Information Contact:

Mike DiRienzo
The Silver Institute
1200 G Street, N.W., Suite 800
Washington, D.C. 20005
Tel: (202) 835-0185
Fax: (202) 835-0155