NGC Registry Updated NGC Registry

Silver Caballitos, The Magnificent Peso


Category: Mexico
Set Type: Caballito Silver Pesos, (KM 453), 1910-1914, Circulation Issue
Owner: USMA67
Last Modified: 2/28/2019
Views: 1069

Rank: 3
Score: 10070
Leading by: 62
Points to Higher Rank: 904
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Set Description:

The beginning of the Mexican Revolution in 1910 saw the emergence of a new silver Peso, the famous "Caballito," one of the most beautiful Mexican coins ever commissioned. This commemorative coin was struck in .903 silver to celebrate the Centennial of the beginning of the War of Independence. The dramatic design shows a woman riding a small bucking horse, a torch in one hand held high in triumph, a laurel branch for peace in the other, along with the date. The reverse has the Mexican National Emblem, the Golden Eagle standing on a cactus plant with a snake in its beak, surrounded by the inscription "ESTADOS UNIDOS MEXICANOS" and “UN PESO”.

The “Caballito” Peso was minted from 1910 thru 1914. Die variations exist in two of those years. The first variation is on the 1911 Peso. Two designs were minted, a “Short Ray” and a “Long Ray” type, referring to the length of the sun's ray on the lower left side. The "Short Ray" is a carry-over from the 1910 dies and it is unclear how many coins were produced before new dies with the lengthened ray were placed in service. It is alleged that the short rays provided space for the engraver's name, but the production dies were modified to the long rays.

The second variation occurred in 1913. The 1913 production includes a number of overstrikes on 1912 coins, again no quantity is known. The overstrikes diminished the population of 1912 coins, making 1912 the second smallest in primary production only to 1914.

This is an unusual time in numismatic history because the US had minted the Morgan Silver Dollar between 1878 and 1921, with a notable break in production taking place between 1905 and 1920. Mexico’s new Peso put a beautiful coin on the world stage, unchallenged by comparable years of Morgan dollars. Additionally, the “Caballito” Peso contained .7859 oz of silver as compared to the Morgan at .7736 oz. These silver Pesos were the high point of Mexican silver coinage. Their popularity extended not only throughout North America, but the Far East as well.

I am in the process of reholdering my collection to take advantage of the new edge-view holders. Mexico carefully collar-stamped major gold and silver coins post-Revolution with the inscription "INDEPENDENCIA Y LIBERTAD".

The Caballito Peso is the last full weight peso produced by Mexico. "Crown" Pesos were a tradition with Mexico dating back to colonial times.
 Slot DescriptionGradeServiceScore
View Coin 1910 MS 64 NGC 863
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View Coin 1911 Long Ray MS 63 NGC 828
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View Coin 1911 Short Ray MS 62 NGC 1699
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View Coin 1912 MS 64 NGC 1319
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View Coin 1913 MS 64 NGC 893
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View Coin 1913/2 AU 58 NGC 793
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View Coin 1914 MS 61 NGC 3675
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