Second Reverse Proof Libertad Released
Readers of this column and my articles in the magazine know that the Mexican Libertad series, especially the various silver coins, is one of my favorite modern world issues.
This is a series that has so much going for it from one of the very best designs ever to appear on a modern coin to coins issued in a wide range of sizes in both business strike and proof and of course, the amazingly low mintages of many of the coins.
In recent years a number of special sets and other innovations have also been added to this impressive mix.
For example, the 7-coin proof set that began in 2014 and includes each size of silver proof Libertad packaged in a convenient, slim wooden box remains popular and continues to sellout quickly. Those sets come with a numbered certificate of authenticity, which is important to Libertad collectors.
Last year the first reverse proof coin was introduced and had a total mintage of 1500 pieces, which were sold in two sets. One was produced for APMEX (www.apmex.com) and limited to 500 sets and included the reverse proof and regular proof, while the second was made for employees of the Banco de Mexico and also included the regular BU coin. Those sets were limited to 1000 units, and many of them made their way into the U.S. and other foreign markets via eBay and dealers.
At the beginning of October, the 2016 reverse proof was released starting with the same type of two-coin set for APMEX, but this time there are 1000 of those. Sold initially for $250 per set, they are now going for about $20-30 more. The Coin Shoppe in Canada (www.thecoinshoppe.ca) is selling them for $268.99.
Though I expect them to eventually reach a higher price point, that is a less substantial increase than last year’s sets saw, especially during the initial period after their release.
Pat Stovall of Lois and Don Bailey and Son Numismatic Services told me that 500 more reverse proofs will be sold internally within Mexico.
So the total mintage for the 2016 issue will again be 1500. That is a very low number and would make it another low mintage key to the series. Whether being the second reverse proof affects its market value. and boosts that of the 2015, coin remains to be seen.
I have seen the 2016 coin, and it looks great. It will be interesting to see if the Mexican mint continues to issue a reverse proof each year, or does something different next year. Given its track record of changing things up regularly, almost anything is possible.