ObverseImage: Wikimedia Commons · National Museum of American History · Public domain
1938 Mexico 1 Peso
Mexico
1938
Reference data compiled from public catalogs
Market Price Range
Based on 20 eBay listings · Prices vary by grade and condition
Estimated Melt Value
$30.77
Based on Silver spot price ($79.74/oz) · 72.0% purity · 16.67g
Updated 8:57 AM
Collector premium not included
Specifications
| Country | Mexico |
| Years Minted | 1938 |
| Composition | 72% silver, 28% copper |
| Weight | 16.67 g |
| Diameter | 37 mm |
| Shape | Round |
| Edge | Reeded |
Design
Obverse
Features the Mexican national emblem: an eagle perched on a cactus devouring a snake, surrounded by the inscription 'Estados Unidos Mexicanos'.
Reverse
Displays the denomination '1 Peso' along with the year 1938 and agricultural motifs.
History & Notable Facts
The 1938 Mexican 1 Peso was struck during Lázaro Cárdenas's push for agrarian reform, using silver from domestic mines to symbolize economic sovereignty.
That silver content—about 72% pure—came from deposits in states like Zacatecas, a practical choice amid global shortages. The coin's obverse features a bold eagle perched on a cactus, devouring a serpent, a design rooted in the Aztec legend but simplified for modern minting. The reverse simply states the denomination and date, with no frills.
Mintage figures for this year are murky; official records from the Mexico City Mint weren't always reliable back then. As for myths, I've heard tales of hidden treasures in these coins, but that's just collectors chasing ghosts. Nobody found oil in them.
It weighs around 16.66 grams and measures 34 millimeters across, typical for the era's pesos.
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AI Analysis & Price Prediction
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