An in-depth look at the 1943-1974 Mexican 20 Centavo 0

[Mr. Smith Guesser]

The 1943 through 1974 Mexican 20 centavo, sometimes called the Pyramid Of The Sun (POTS) coin is one of my favorite world coins. Its design is a composition of historic, mythologic, and esoteric elements that work in concert to create one of the most attractive modern coins of the 20th century.

 

The Mexican 20 centavo denomination was first produced in 1898. This coin was minted with a 90% silver content with actual silver weight of 0.16 ounces. Monetary reforms in the early 20th century, however, began to reduce the precious metal content of all Mexican coins. By WWII, the average silver content in Mexican coins fell by 65%. And in 1943, silver was completely eliminated from the 20 centavo denomination. Which is where the story of the POTS coin begins...

 

The Pyramid Of The Sun Coin

 

On August 3, 1943 Mexican President Manuel Ávila Camacho authorized the issuance of the new bronze 20 centavo to be designed by Chief Engraver of the Mexican Mint.

 

In his book Numismatic History of Mexico from 1823-1950 (1957), Alberto Francisco Pradeau tells us of the POTS coin, “The dies of this coin were made by the engraver of the mint of Mexico, Manuel Luna Negrete, with the help of his assistant, Francisco Rivera Paniagua”¹

¹ Translated from spanish: “Los cuños de esta moneda fueron hechos por el grabador de la ceca de México, Manuel Luna Negrete, con la colaboración de su ayudante, Francisco Rivera Paniagua”

 

Obverse Design

 

 

The obverse of the POTS coin features the Mexican coat of arms: a Golden Eagle perched atop a prickly pear cactus on a stone in the water clutching a snake. This image is based on the legend of the holy city of Tenochtitlan, which goes something like this:

 

In the beginning, the Mexica people emerged from the womb of the Earth; a place called Chicomoztoc, which means “seven caves”. They settled in a land of paradise called Aztlán. But, the Mexica lived there under a tyrannical ruling class called Azteca Chicomoztoca.

 

After centuries of oppression, Huitzilopochtli, the Mesoamerica god of war, the sun, and human sacrifice appeared to the Mexica's highest priest in a vision. Huitzilopochtli ordered the Mexica people to leave Aztlán saying:

 

“Where you will find an eagle, sitting on a cactus on a stone in the water, tearing with his beak and fangs a snake asunder, there you shall settle.”

 

An excerpt from Diego Durán's The History of the Indies of New Spain showing the founding of Tenochtitlan published c. 1581

 

For the two centuries, the Mexica wandered in the Valley of Mexico, until one day they saw this very sight on a small swampy island in the middle Lake Texcoco. And it was there that the Mexica established the city Tenochtitlan.

Throughout the POTS coin series, the design of the Mexican coat of arms on the obverse would change three times, gradually becoming less detailed and more abstract.

 

The first obverse (KM# 439) featured a redesign of the Mexican coat of arms, which became the official design approved by President Miguel Alemán Valdés in 1947.

 

His successor, President Adolfo Ruiz Cortines approved another redesign for the Mexican coat of arms in 1955, which found its way onto the Type II (KM# 440) POTS coin in the middle of the 1955 production year.

 

The Type III (KM# 441) obverse is a much less detailed version of the Mexican coat of arms. This version of the Mexican coat of arms, sometimes called the “black and white” version, is still used today to seal official documents.

 

 

The more abstract and less-detailed Type III obverse (KM# 441) is quite easy to distinguish from the Type I and II designs, having very little relief. But the differences between Type I and II are less easy to see at first.

 

The eagle in Type II is a bit larger, with its head raised a little higher and much less detail on the feathers than Type I. But the easiest way to distinguish between the designs of Type I and Type II are denticles around the outside perimeter of the coin. The Type I design has denticles. The Type II design does not.

 

Reverse Design

 

 

The reverse of the 1943 to 1974 Mexican 20 centavo is the coin's true highlight. In the January 1971 issue of Coins Magazine, Ralph Yates wrote that the reverse of the POTS coin was, “one of the most attractive scenes to appear on modern coinage in the Western Hemisphere.”

 

At the center of the reverse stands the Pyramid of the Sun, the largest structure in and central focus of the city of Tenochtitlan, which is inscribed at the pyramid's base.

 

Atop the Pyramid of the Sun is inscribed the word “LIBERTAD” (Liberty) upon an illuminated Phrygian Cap, a symbol of freedom. The cap divides the denomination “20” in front of rays of sun light from the background, representing enlightenment.

 

In the foreground, a giant cactus rises from the desert on the left while the leaves of a prickly pear cactus shoot up on the right. Between the cactuses is the word “CENTAVOS” and year of issue. The Mexican Mint's mark (MO) is located immediately above the Pyramid of the Sun.

 

Flanking the Pyramid of the Sun on both sides are two volcanoes. On the right is Popocatépetl (also called “the Smoking Mountain”), an active volcano. On the left, is the dormant Iztaccihuatl (also called “the White Woman”). These volcanoes are named after the tragic legend of two star-crossed lovers, which goes something like this:

 

Thousands of years ago, when the Aztec Empire was in its heyday and dominated the Valley of Mexico, it was common practice to impose a mandatory tax neighboring towns. This taxation did not sit well with the indigenous group known as the Tlaxcalteca, who were bitter enemies of the Aztecs. After a while the Tlaxcalteca became weary of the taxation and the chief of the group decided to fight for his people’s freedom.

 

At this time, the Tlaxcalan chief had a daughter named Iztaccihuatl who was said to be the most beautiful of all the princesses. Iztaccíhuatl fell in love with a handsome and great warrior named Popocatépetl. And shortly thereafter, Popocatépetl asked the chief of the Tlaxcalans for permission to marry his daughter. But the Tlaxcalan chief believed that Popocatépetl was unworthy to marry Iztaccíhuatl. Instead of declining the marriage request, however, the chief of the Tlaxcalteca sent Popocatépetl to battle to fight the Aztecs, saying he would approve of the marriage when Popocatépetl returns.

 

But the chief, not approving of the relationship, sent Popocatépetl to war mostly unprepared so that the chief thought Popocatépetl would die in battle. But Popocatépetl did not die. Popocatépetl survived the battle and quickly headed home to his promised wife Iztaccíhuatl.

 

But when the Tlaxcalan chief heard that Popocatépetl's success, he lied to Iztaccíhuatl, telling her that Popocatépetl was killed in battle, believing she would quickly marry someone else before Popocatépetl returned. But upon news of Popocatépetl death, Iztaccíhuatl, crushed by such tragedy and overwhelmed by sadness, died of grief without even imagining it could be a lie.

 

When Popocatépetl returned to find his lover dead, he wandered about the streets for several days and nights, until he decided he had to do something to honor her love and to assure that the princess would not ever be forgotten. So Popocatépetl ordered a great tomb built under the sun, piling up ten hills together to form a huge mountain.

 

Popocatépetl carried the dead Princess in his arms, took her to the summit and laid her on the great mountain. The young warrior lovingly kissed her cold lips, took a smoking torch and knelt in front of his beloved to watch over her eternal sleep.

 

From then on, they continue together, facing each other. Eventually the snow covered their bodies, forming two majestic volcanoes that would remain joined till the end of time. The legend goes on to say that when the warrior Popocatépetl remembers his beloved, his heart that preserves the fire of eternal passion shakes and rains fire on Earth in blind rage at the loss of his beloved.

 

Iztaccihuatl and Prince Popocatepetl by Jesus Helguera

General Market Notes

 

Mexican coins, in general, aren't the most popular with collectors today. And the few collectors who are interested in Mexico coins seem to be more attracted to the 19th and early 20th century gold and silver denominations like the real, escudo, and peso. This puts the Pyramid of the Sun coin pretty low on the overall desirably scale among the general collectors today.

 

The Pyramid of the Sun coin was produced in large quantities. Nearly 900 million coins were produced in total throughout the entire POTS coin mintage. With such a high production and little overall desirability, most POTS coins have little numismatic value and will sell for less than $1. Only a few years in the best condition have any significant numismatic value.

 

There are many POTS coins currently available at coin shops, numismatic shows, and online auctions. The large majority of these, however, have not survived the years in BU condition, particularly some the earlier dates.

 

Perhaps the hardest date to be found in BU condition, and most valuable, is the 1951. Other early dates that less commonly found still in BU condition include 1943, 1946, and 1952. Later dates of the POTS coin that can be harder to find in BU are 1960, 1968, and 1959. Nevertheless, there are no dates that are impossible to find in BU condition.

 

Other Interesting Tidbits

 

Exonumia Use

 

As previously mentioned, there were a lot of POTS coins minted. As a result, the 20 centavo has been widely used for exonumia.

 

The most common exonumic application for the Mexican 20 centavos seem to be ashtrays. There are many examples of ashtrays made from the 20 centavo that can easily be found at many antique stores and online auction sites. There are many different styles, but the general designs are basically the same. I personally have three of these, one of which I actually do use as an ashtray.

 

 

Other objects that have been made out of the POTS coin include a variety of jewelry, cufflinks, bolo ties, and even guitar picks.

 

Ah, Ya Me Cayó El Veinte

 

Years ago, before cell phones and communications giant Telmex, most people in Mexico used payphones.

 

A caller would dial the number and then speak to the operator. The phone operator would ask the caller to pay for the call. Then, when the operator heard the coin drop they would connect your call.

 

If the operator didn't hear the clang of the coin drop, they would ask the caller to try again. When the operator heard the coin drop, they would say something close to, “Ah, ya me cayó el veinte” or in English, “Oh, now I heard the twenty drop.”

 

Over the years, this phrase came to be the English equivalent of “Oh, now I understand,” or “Now I get it.” Today, the Mexican phrase is not as widely used, although some Mexican people from older generations still use the phrase.

 

Though completely different in meaning, the English term to “drop a dime” on someone (meaning to divulge or expose information about someone behind their back) also stems from the use of payphones, which at one point cost ten cents to use. If one person were to rat-out another, they might literally “drop a dime” into a payphone to make the call.

 

Similarity to the Great Seal of the United States

 

I am not sure if this is by design or just a coincidence, but the general design of the POTS coin has striking similarities to the Great Seal of the United States.

 

As we've seen, the obverse of the POTS coin features an eagle, facing it's right, grasping a snake. Similarly, the obverse of The Great Seal of the U.S. features an eagle, facing it's right, grasping a banner.

 

The reverse of the 20 centavo features an unfinished pyramid with an illuminated cap floating above it. Meanwhile, the reverse of The Great Seal of the U.S. also features an unfinished pyramid with an illuminated cap floating above it.

 

Of course, there are many clear differences between the two designs. But overall, I think the similarities between the two are greater than the differences. Compare them for yourself:

 

 

Summary

 

The historic, mythologic, and esoteric design elements of the POTS coin make it one of my personal favorite coins of the 20th century. It is an extremely easy and affordable coin series to collect, aside from just a few dates, and makes for a great beginner collection.

 

Thanks for reading.

 

Further Reading

 

Buttrey, Theodore V., A Guide Book of Mexican Coins, 1822 to Date, Western Publishing Co. Inc., Racine, WI, 1969.

 

Long, Richard A., The Availability of 20th Century Mexican Coins, Gulf Coast Printing Co., Corpus Christi, TX, 1969.

 

Pradeau, Alberto F., Numismatic History of Mexico from 1823-1950, 1957.

 

Utberg, Neil S., The Coins of Mexico, 1536-1963, San Antonio, TX, 1963.

[cladking]

Nice write-up. Thanks.

 

One of the things I like about these coins is that they sometimes come in exquisite Gem condition. As beautiful as these coins are in BU, Gems can be absolutely stunning and have gorgeous toning.

[World Colonial]

General Market Notes

 

Mexican coins, in general, aren't the most popular with collectors today. And the few collectors who are interested in Mexico coins seem to be more attracted to the 19th and early 20th century gold and silver denominations like the real, escudo, and peso. This puts the Pyramid of the Sun coin pretty low on the overall desirably scale among the general collectors today.

 

The Pyramid of the Sun coin was produced in large quantities. Nearly 900 million coins were produced in total throughout the entire POTS coin mintage. With such a high production and little overall desirability, most POTS coins have little numismatic value and will sell for less than $1. Only a few years in the best condition have any significant numismatic value.

 

There are many POTS coins currently available at coin shops, numismatic shows, and online auctions. The large majority of these, however, have not survived the years in BU condition, particularly some the earlier dates.

 

Perhaps the hardest date to be found in BU condition, and most valuable, is the 1951. Other early dates that less commonly found still in BU condition include 1943, 1946, and 1952. Later dates of the POTS coin that can be harder to find in BU are 1960, 1968, and 1959. Nevertheless, there are no dates that are impossible to find in BU condition.

 

I believe that the Mexican collector base is a lot larger than most countries, certainly in the top 20 due to demand from US based collectors. It is just small compared to the US because this country is an aberration among all of them.

 

As for this series, though I do not know it specifically, I agree that it is toward the bottom of the preference scale among Mexican coinage but I don't see anything unusual about it. At the same time, unlike my opinion of world moderns generally, financially I believe it will do a lot better than most if TPG becomes the norm by those who collect it. I expect more Mexican-American collectors to prefer it and other Mexican coinage in the future.

 

In a prior article, the Mexican Coin Company mentioned that Mexican coins were popular among (US) collectors in the past (1950's and 1960's). I believe they mentioned or I understood that at least some Mexican modern series were collected by completing folders (presumably Whitman). If this is correct, I suspect this series was one of them and that a decent number of the better grade coins survive as a result of US collecting.

[MaximilianMike]

Wow

 

What an in depth review of these 20 Centavos. I myself perhaps about two years ago switched to full time collecting of Mexican coins after 22 years of U.S. collecting. As you alluded too, it was in fact the real's and the pesos that got me into Mexican coins and I haven't really looked back. U.S. Coins in the grades that I collect are absolutely cost prohibitive now.

 

Anyway, I have branched out to some minors, republic 5 centavos primarily from Zacatecas, Maximilian minors, and a limited few moderns. You were also right that I, as have others, have overlooked these coins. I do not get too far into the 20th century. But after reading your posting it peaked my interest.

 

As a seperate note, the reason I do not get too far into the 20th century with respect to any circulating coinage, is because in my opinion most evolved countries began to debase and bauch there coinage around this time.

 

But the main point of my reply is that I wanted to ask, are you a member of the U.S. Mexican Numismatic Society? They produce a quarterly journal and your write up here would probably be a welcomed article to include. Just a thought.

 

Thanks for sharing.

 

Mike

 

 

Edited June 14, 2015 by MaximilianMike

[Mr. Smith Guesser]

In a prior article, the Mexican Coin Company mentioned that Mexican coins were popular among (US) collectors in the past (1950's and 1960's). I believe they mentioned or I understood that at least some Mexican modern series were collected by completing folders (presumably Whitman). If this is correct, I suspect this series was one of them and that a decent number of the better grade coins survive as a result of US collecting.

 

I believe that I read that somewhere as well. I thought at first it was in the January 1971 issue of Coins Magazine that I referred, but I can't seem to find it there. So it was probably in one of the other books on Mexican coins that I have. Nevertheless, Yates did write in that article that the 20 centavo, "is a rather popular coin numismatically, and is very pleasing in brilliant uncirculated."

 

I'll look again through my books to see where I read that Mexican coins were popular in the 50s and 60s.

 

[Mr. Smith Guesser]

But the main point of my reply is that I wanted to ask, are you a member of the U.S. Mexican Numismatic Society? They produce a quarterly journal and your write up here would probably be a welcomed article to include. Just a thought.

 

Not a member. In fact I didn't even know that such an organization existed. I'll definitely check it out though. I mean, really, for the past four years or so, I've been mainly focused on the Roosevelt dime series and just picking up these 20 centavos here and there.

 

I do have a complete set, but less than half of it has been certified by either NGC or PCGS. Many times that I see them for sale already certified, sellers are asking too much money. There's a 1951 NGC MS 64 RB with an asking price of $195 that's been sitting on eBay forever: http://www.ebay.com/itm/1951-MO-Mexico-20-Centavos-NGC-MS-64-RB-/200682474295?pt=LH_DefaultDomain_0&hash=item2eb99b8b37

 

$195 is too much IMO for that coin. Granted, however, the seller has put a "make an offer" option on it now. But I personally don't like to play that "make an offer" game. Many eBay sellers will try to play the high/low game just to squeeze a few more bucks out of you. People try to play that game with everything though. No one ever wants to leave any meat on the bone. Nevertheless, I already have a '51 NGC MS 65 RB, so I don't need that coin anyway.

[KMAG100]

Really good post Mr. Smith...A++++++++++++++++ (thumbs u

 

PS I think you helped me figure out the 11 oclock coat of arms on the libertad.....its the type II design

Edited June 14, 2015 by kmag

[Mr. Smith Guesser]

This is actually one of my favorite coins in my 20 centavo collection. It's not the actual coin that I like though. The coin is not in good condition. But rather, I like that it has apparently been in this flip since at least 1965.

 

 

Apparently it was gifted to a "C.M.C." by a "Clardy" in 1965. And then to a "Robbie Fletcher" in 1978. But I really can't be sure. I don't know any of these people.

[Mr. Smith Guesser]

Really good post Mr. Smith...A++++++++++++++++ (thumbs u

 

PS I think you helped me figure out the 11 oclock coat of arms on the libertad.....its the type II design

 

Thanks. Yeah, I just looked at that coat of arms, and I think you're right.

 

On the older style Libertad though, something I noticed a long time ago, was that it also has some similarities to the American Silver Eagle.

 

 

Both feature Liberty on the obverse with her right arm raised and left arm lowered, although this is the way Liberty is generally positioned in depictions (see the Statue of Liberty). And both feature a right-facing eagle with spread wings clutching similar looking objects in their beak...a banner on the ASE and a snake on the MSL. Again, it's not an exact match...but quite similar.

[MaximilianMike]

The website is www.usmex.org if you are interested.

[KMAG100]

The website is www.usmex.org if you are interested.

 

Thanks for the website.....i joined (thumbs u

[MaximilianMike]

You are very welcome!

[Mr. Smith Guesser]

One of the key dates for this series is the 1959 date. And I just found a 1959 NGC MS 68 RD on eBay if anyone is interested. This coin is top pop 1/1. Here: http://www.ebay.com/itm/321797294033?_trksid=p2055359.m1431.l2649&ssPageName=STRK%3AMEBIDX%3AIT

 

This is not my listing, but thought that anyone interested in the series should check this coin out.

[Elliott778]

I have the silver version of this 1946 20 centavos coin.... How is this possible? what would it's worth be??

[DWLange]

That appears to be a cast counterfeit in some base metal such as lead.

[Conder101]

Two things, the pyramid on the 20 centavo is not "unfinished", and the illuminated object above the pyramid on the Great Seal is not a "cap".

[Mohawk]

On 1/3/2019 at 11:25 PM, Elliott778 said:

I have the silver version of this 1946 20 centavos coin.... How is this possible? what would it's worth be??

Sadly, it's worth nothing......definitely a poorly made fake.

[chicote]

It should be noted that this coin - the pyramid 'veinte' - was a very USEFUL coin until the very, very end..... it was used for pay phone calls for decades after the operator connected calls described above.... until 1975 when it disappeared from circulation.  In addition, small boxes of paraffin matches cost 20 centavos until about 1974.  Those matches were ever-present, absolutely EVERYWHERE... almost everyone's stoves were lit by matches - i.e., had no pilots - and vast numbers of people smoked, .... and there were no "Zippo" lighters sold in Mexico, and before BIC lighters appeared in the mid seventies, absolutely EVERYONE carried the paraffin matches to light stoves, etc....... resulting in the 20 centavo coin being as ever-present as the matches and pay phones.  It was the most common coin from 1943 to 1974.  And all this apart from its beauty.