Mexico's central bank on Monday brought into circulation the country's first 1-kilo gold commemorative coin, with features alluding to this month's 202nd anniversary of Mexican national independence.
The Banco de Mexico announced in a communique that the coin has a nominal value of 200 pesos ($15.65) but did not say what its sales price will be, although bank officials said that the price will be regulated in accord with the international price of gold.
Gold was trading Monday in a range of $23,585 per kilo (2.2 pounds) for 10K purity to $56,559 for 24K.
The coin has a diameter of 90 millimeters (about 3.5 inches) and around its edge the inscription "Independencia y Libertad" (Independence and Liberty) is engraved. The front of the coin bears the national coat of arms in relief in the center surrounded in a semi-circle with the words "Estados Unidos Mexicanos" (United States of Mexico).
Surrounding that, and following the coin's circumference are the "reproduction(s) of different coats of arms used throughout Mexico's history, as well as the eagle that is found in the center of the first page of the Codex Mendoza," a 16th-century Aztec codex containing a history of Aztec rulers, a list of the tribute paid by conquered peoples and a description of daily Aztec life.
The "Bicentennial" coin will be issued in limited numbers and will go on sale to the public through financial institutions.