countermarked 1948 Mexican 5-pesos

[villa66]

The host coin here is Mexico’s 1948 5-peso, struck in Mexico City of .900 silver, 40mm in diameter and weighing 30g. The type had been introduced in ’47 as part of a rework of Mexican silver coinage, and marks the denomination’s first appearance in silver.

A devaluation of Mexico’s peso followed in 1949, however, and pushed most of these big silver “Cuauhtemocs” into hiding. (The new 5-peso types beginning in 1950 would have about 25% less silver than this type of 1947-48.)

But this particular 1948 Cuauhtemoc 5-peso has been heavily countermarked (and inked), and is now also an “Anguilla Liberty Dollar” dated July 11, 1967. (See the date digit “8” in the U of ANGUILLA.) The work on this coin was done in a San Francisco basement. About 1,530 of the Cuauhtemoc type 5-pesos were so converted, along with several other dollar-sized world coin types.

“Liberty Dollars” were removed from the Krause standard catalog some years back and relegated to Unusual World Coins, but my own opinion of these pieces is a little more forgiving. They were said to have enjoyed a perfunctory circulation, had a redemption value (US$10) bestowed on them by a governmental entity (the Anguilla Island Council)—and most tellingly, for me anyway—were part of an activity that was serious enough to require a landing by British paratroopers.

I wonder, were all the Cuauhtemocs converted to “Liberty Dollars” the more common 1948s, or were there 1947 host coins too?

Cuauhtemocs—big and silver and readily available as they were—saw another extracurricular use. Carrying on the old tradition that had once consumed 8-reales pieces, in 1962 some 60+ Cuauhtemoc 5-peso pieces were used to make badges for all the Texas Rangers then serving that widely-known group of lawmen.

v.

[KarlAntonMartini]

Remick's Guide Book, 3rd ed. 1971, tells us: About 10.500 counterstamped coins of all types were struck. About 1.500 pieces had been in circulation, the remainder should be sold to collectors. The unsold pieces were bought by US-American coin-dealer Richard Long from the Anguilla Council to be sold to his customers. He charged 32.50 Us-$ for this piece. Best regards, KarlAntonMartini

[villa66]

At $32.50 originally, I guess I was lucky to be further down the custody chain!

Funny you should mention Richard Long; years ago I encountered his book on the availability of Mexican coins. I remember really being impressed by it--I wish that sort of information was easily available on every coinage. But of course my acquaintance with his book came decades after it was published, and until then I had never taken note of his name.

Since then, since reading his book, I've been surprised by how often I do encounter his named linked to this or that. And so this is one more time.

v.