Oaxaca Gold 60 Pesos 1916 Struck Over a U.S. Liberty Head Eagle, AU53 NGC. Type of KM-755. 16.7 grams. An incredibly interesting and rare gold coin, probably unique. The 1916 Oaxaca gold 60 Pesos coins are of great rarity and historical significance as a type.
Struck in Oaxaca, Mexico by the provisional government during the revolution, these large gold coins bear the portrait of Benito Juarez within a wreath on the obverse, with the value Gold 60 PESOS ORO below.
The reverse shows balance scales beneath rays surrounding a “Liberty Cap,” all within the legend showing REPUBLICA MEXICANA, fineness, and date. The TM assayer’s initials are for Tomas Butron Miranda.
Regular Oaxaca gold 60 Pesos issue had an estimated mintage of just 21 pieces based on recent research by the Smithsonian. There are only a handful of survivors from that small mintage.
A Gem example of the regular issue sold in the Louis E. Eliasberg, Sr. Collection of World Gold Coins and Medals (ANR, 4/2005), lot 3424, which realized $74,750. The present About Uncirculated coin was struck on a United States Motto Liberty eagle, date unknown, which is approximately 30% smaller than the dies, thus the outer decoration and some of the legends are partially off the coin.
Attractive medium-gold color shows olive-gold accents at the margins. Portions of the undertype are faintly visible on both sides, with the reverse showing the outline of the eagle and shield.
The obverse undertype is less clear, limited to only indistinct traces of the U.S. motif. Light wear and minor marks indicate brief circulation at one time. The reeding from the Liberty ten is complete.
Original dies for the Oaxaca gold 60 Pesos issue were impounded at the American Numismatic Society almost a century ago.