By the mid 1980’s hyperinflation was quickly eroding the value of the peso and impacting the cost of minting coinage. To keep up with inflation coinage in new and larger denominations were required. In response the Mexico City Mint issued a new 500 pesos coin with the image of Francisco Madero. The 500 peso coin would be the second largest denomination minted during the hyperinflation time period.
Francisco Madero was a Mexican politician and revolutionary who helped remove and force then President Diaz into exile. Madero would replace Diaz as President in 1911 but many groups became disenchanted with Madero's handling of Mexico's problems and in 1913, revolted and executed him. Though deposed and executed Madero is recognized as being the first President of the new revolutionary government.
The obverse design features the Mexican coat of arms, an eagle clutching a snake while it perches on a prickly pear cactus. On the outer periphery is the phrase “ESTADOS UNIDOS MEXICANOS” or as translated to English “United Mexican States”.
The reverse design features a bust image of Madero. Below the bust is the denomination “$500” and to the right of the bust is the mint mark “Mo” for the Mexico City Mint and opposite is the name "Madero".
General Market Notes
There are no rarities for the series and all examples are readily available.