Shortly after the Mexican Revolution, the newly formed Mexican Government issued their first Peso coin referred to as the “Caballito Peso” or as translated to English Pony or Small Horse Peso.
The Cabillito Peso was a crown size coin struck in 90.3% silver to celebrate the War of Independence and was issued from 1910 to 1914. Today, it is a highly collected coin for both Mexican coin collectors as well as Silver World Crown collectors and is regarded as one of the most beautiful crown sized designs in not just Mexico but throughout North America.
The obverse design features the Mexican coat of arms, an eagle clutching a snake while it perches on a prickly pear cactus and the denomination “UN PESO”. On the outer periphery is the phrase “ESTADOS UNIDOS MEXICANOS” or as translated to English “United Mexican States”.
The reverse design features a woman riding a horse holding a torch high above her head and in her other hand holding a laurel branch. In the background is a rising (or setting) sun with rays.
The coin edge is lettered with the phrase “INDEPENDENCIA Y LIBERTAD” (Independence and Liberty).
There are two significant die varieties sought by collectors of the series. The first is on the 1911 Peso where reverse designs were minted with a “Short Ray” or a “Long Ray”. This referred to the length of the sun's ray on the lower left side and the "Short Ray" was a carry-over from the 1910 design.
The second variation is an over-date referred to as the 1913/2 where 1912 issues where struck over to make 1913 issues.
General Market Notes
The key to the series is the 1914 issue with its small mintage of only 120,000. The semi-keys to the series are the 1912 issue and 1911 “Short Ray” issue.