Saturday, June 15, 2024

Bank of México releases 20-peso coin celebrating founding of Veracruz

A new 20-peso coin that commemorates the 500th anniversary of the founding of the port city of Veracruz is now in circulation, the Bank of México said on Wednesday.

Made out of nickel, silver, bronze and aluminum, the coin is dodecagonal – that is, it has 12 sides. The coin is slightly smaller, thinner and lighter than previously-minted, completely round 20-peso coins.

It has a diameter of 30 millimeters, a thickness of 2.4mm and weighs just under 12.7 grams whereas 20-peso coins that have been put into circulation over the last 27 years measure 32mm from side to side, are 2.75mm thick and tip the scales at almost 16 grams.

The reverse side of the coin features images of the original Veracruz town hall (still in use as the municipal palace) and a 16th-century ship reminiscent of the one on which Spanish conquistador Hernán Cortés sailed to the Gulf coast in 1519. The words “500 years of the foundation of the city and port of Veracruz” encircle the coin’s perimeter.

Like all of Mexico’s coins, the obverse side of the new one features Mexico’s coat of arms – an eagle perched on a prickly pear cactus devouring a rattle snake. Mexico’s official name, Estados Unidos Mexicanos, or the United Mexican States, is embossed on the top half of the coin’s obverse side perimeter.

The new coin has security features that its predecessors of the same denomination don’t have including a “micro-inscription” of “500 VERACRUZ” and a “latent image” of the number 20 that can only be seen if the coin is tilted.

For the time being, the new 20-peso coin and the 20-peso banknote will exist side by side but the central bank plans to phase out the latter.

The Bank of México’s announcement that the new coin had entered circulation comes just days after it confirmed that the release of the new 100-peso note will go ahead as planned in the second half of the year.

The bank announced in 2018 that it intended to release a new family of bills that pay homage to Mexico’s historical identity and natural heritage.

A new 500-peso note was released in August 2018 and a new 200-peso bill was put into circulation last September. A new 50-peso note is scheduled for release in 2022.

Source: El Financiero (sp)

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