United States of Mexico Gold 50 Peso was first issued in 1921 to commemorate the 100th anniversary of Mexico's independence from Spain, the Mexican 50 Peso gold coin is also known as the "Centenario". It contains 37.5 grams (1.2057 oz) of gold in an alloy of 90% gold and 10% copper (21.6 karat). The Mexican 50 Pesos gold coin is strikingly beautiful and is 20% larger than the popular 1-oz American Eagle Gold coin. The obverse of the Mexican Gold Coin 50 Pesos has an image of Winged Victory, with a laurel wreath in her right hand and broken chains in her left. Two famous Mexican volcanoes, Popocatepetl and Iztaccihautl, rise in the background. The 1821 on the lower left commemorates the year of Mexico's independence. The date on the right indicates year of mintage. However, between 1949 and 1972, nearly four million pieces were struck, most likely dated 1947. These are referred to as restrikes; the earlier 50 Pesos carry small premiums over the restrikes, except for the 1921 and the 1931 coins, which can have large premiums. The reverse depicts the Mexican Coat of Arms, which is an eagle perched on a cactus with a serpent in its beak. When Americans regained the right to own gold bullion on December 31, 1974, Mexican 50 Peso gold coins quickly became one of the gold bullion industry's standard bearers, along with the Austrian 100 Corona.