Affiliate disclosure: White Metal Resources may earn a commission when readers open an account through links on this site. That never changes what you pay or what we write. We are not financial or tax advisors. Consult a licensed advisor before making decisions with money.
Last updated: August 15, 2026 · By White Metal Resources Editorial
Quick answer: The Silver Libertad is a Mexican bullion coin struck since 1982 by La Casa de Moneda de Mexico, in 99.9 percent pure silver, across eight sizes from 1/20 troy ounce to 1 kilogram. The 1 troy ounce piece weighs 31.1 grams and holds one full troy ounce of silver.
Melt value equals the silver content multiplied by the day's silver spot price. At an illustrative 30 dollars per troy ounce, a one-ounce Silver Libertad holds about 30 dollars in silver. Retail dealers usually add a stronger premium than on Silver Eagles or Maples because annual Libertad mintages are much smaller.
Short on time? The essentials
- The Silver Libertad is minted by La Casa de Moneda de Mexico (Mexican Mint), founded in 1535 and the oldest mint in the Americas.
- Silver Libertads have been struck every year since 1982 in 99.9 percent pure silver (999 fine). The gold Libertad launched one year earlier, in 1981.
- The full silver series covers eight sizes: 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, 2 oz, 5 oz, and 1 kilogram.
- The one-troy-ounce coin weighs 31.1 grams total, at 40 mm diameter and 3.0 mm thickness, and holds a full troy ounce of silver.
- The obverse shows the Coat of Arms of Mexico. Since 2000 it is surrounded by ten past versions of the national symbol, an obverse motif unique to the silver Libertad among world bullion coins.
- The reverse shows the Winged Victoria of the Angel of Independence, with the volcanoes Popocatepetl and Iztaccihuatl in the background. The design is based on the 1921 gold Centenario.
- Silver Libertads carry no face value. They are legal tender in Mexico, guaranteed by Banco de Mexico at the market value of their silver content.
- Annual mintages of the 1 troy ounce silver Libertad have ranged from roughly 200,000 to 1,650,000 pieces since 1982. That is a small fraction of the tens of millions of Silver American Eagles struck each year, which supports a stronger collector premium on the Libertad.
- Melt value for a one-ounce coin equals the silver spot price of the day multiplied by one troy ounce. At 30 dollars per troy ounce that is about 30 dollars in silver per coin.
- Silver Libertads meet the 99.9 percent fineness rule for silver held in a United States self-directed IRA. Custodian acceptance can lag the statute, so confirm the specific approved list before purchase.
The Silver Libertad is Mexico's flagship silver bullion coin, struck every year since 1982 by La Casa de Moneda de Mexico, the oldest mint in the Americas. It is issued across a wider size range than any other flagship sovereign silver coin, from a 1/20 troy ounce piece up to a full kilogram. This page walks through its specifications, its history, and the arithmetic behind its melt value at any current silver price.
What the Silver Libertad is, in one paragraph
The Silver Libertad is a Mexican silver bullion coin issued by Banco de Mexico and struck by La Casa de Moneda de Mexico. Modern pieces are 99.9 percent pure silver (999 fine). The coin carries no numeric face value on its surface.
It is legal tender in Mexico, guaranteed by Banco de Mexico at the market value of its silver content. Silver Libertads have been struck every year since 1982 (source: Libertad (coin), Wikipedia summary of Casa de Moneda de Mexico production).
The Silver Libertad specifications summary across eight sizes
Modern Silver Libertads are struck at 99.9 percent silver fineness across all sizes. The one-troy-ounce coin is the reference piece: 31.1 grams total mass, 40 mm diameter, 3.0 mm thickness, one troy ounce of silver content.
The full series covers eight sizes: 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, 2 oz, 5 oz, and 1 kilogram. Fineness is 999 across every size, so actual silver weight scales one-for-one with total mass. The kilo piece holds about 32.15 troy ounces of silver at 1000 grams total mass and 110 mm diameter.
The coin is not marked with a monetary face value. Instead, the reverse carries the weight in Spanish (ONZA for a full ounce, or the fractional or multiple designation), the year of strike, and the purity. This is different from most sovereign bullion coins, which carry a token face value in the issuing country's currency.
The composition has been constant on the silver series since 1982. From 1996 forward, the sizes shown above have been standard. Some early sizes (the fractionals and one ounce from 1982 through 1995) were struck with slightly smaller diameters and greater thicknesses than the current sizes (source: Libertad (coin), Wikipedia specifications section citing the Mexican Mint catalog).
The 1982 launch and the Casa de Moneda de Mexico story
La Casa de Moneda de Mexico was established by royal decree in 1535, making it the oldest mint on the American continent. It has been in continuous operation ever since. The Mexican Mint produced the first modern gold Libertad in 1981, and added the silver Libertad one year later, in 1982.
The silver Libertad has been minted every year since, without a single skipped year. Total annual mintages have varied widely with market demand. The one troy ounce silver piece has been produced in quantities ranging from 200,000 to 1,650,000 per year, with a rough long-run average near 800,000 pieces per year.
The multi-size range expanded in the mid-1990s. The 2 ounce and 5 ounce silver pieces were added in 1996, followed by the 1 kilogram piece in 2008. The fractional silver pieces (1/20, 1/10, 1/4, 1/2 ounce) have been produced since 1991. This makes the Silver Libertad the widest-sized flagship silver series among the major world mints.
A separate proof and reverse proof program serves collectors. Proof and reverse proof mintages are typically a few hundred to a few thousand pieces per year per size. An antique finish silver Libertad was first released in 2018 with a limited mintage of 40,000 pieces (source: Libertad (coin), Wikipedia mintage tables citing Mexican Mint annual reports and the Numista database).
Obverse coat of arms, reverse Winged Victoria, and the two design eras
The obverse of the Silver Libertad shows the Coat of Arms of Mexico. Since 2000, the current national coat of arms is surrounded by ten past versions of the symbol, arranged in a ring around the central design. The Spanish inscription ESTADOS UNIDOS MEXICANOS runs around the outer edge. Before 2000, the obverse carried only the current coat of arms.
The reverse shows the Winged Victoria of the Angel of Independence. The design is drawn from the 1921 gold Centenario, a coin struck to mark 100 years of Mexican independence. In the background stand the volcanoes Popocatepetl and Iztaccihuatl, southeast of Mexico City.
There are two clear design eras on the reverse. Silver Libertads from 1982 through 1995 show a front-facing view of the angel. Silver Libertads from 1996 forward show a three-quarter side profile of the same figure. The rest of the reverse (weight in Spanish, year, purity, and volcano backdrop) is common across both eras.
The oak and laurel wreath below the eagle, and the eagle perched on a prickly pear cactus devouring a rattlesnake, tie back to the Aztec founding legend of Tenochtitlan (present-day Mexico City). The imagery is unique to Mexican coinage and one reason collectors prize the Libertad's obverse against the plain heraldic designs on other world bullion coins.
The melt value math, priced at an example silver spot
Melt value is a computation, not a price quote. It equals the coin's actual silver weight in troy ounces multiplied by the silver spot price of the day. Silver Libertads are 999 fine across every size, so actual silver weight sits within 0.1 percent of the coin's total mass.
The chart below shows the illustrative melt value of a single Silver Libertad at each of the eight standard sizes, priced at an example silver spot of 30 dollars per troy ounce. The bar chart uses a logarithmic horizontal scale because the kilo piece would otherwise dwarf every other bar. The spot price is an example, not a quote and not a price forecast.
The formal computation is straightforward. Take the coin's total mass in grams, multiply by 0.999 fineness, then divide by 31.1035 grams per troy ounce to get the actual silver weight in troy ounces. Multiply by the day's silver spot price per troy ounce for the melt value in dollars.
Working example on the 1 troy ounce coin at a 30 dollar per ounce spot price: 31.1 grams multiplied by 0.999 equals 31.07 grams of pure silver. Divide by 31.1035 grams per troy ounce for 0.999 troy ounces. Multiply by 30 dollars per ounce for a melt value of about 29.97 dollars per coin.
To reprice for a different day, substitute the live silver spot price for the 30 dollar example figure. The one-ounce Libertad tracks the silver spot almost one-for-one. Larger pieces scale linearly with total mass at 999 fineness, so a kilo piece is worth about 32.15 times the spot price per troy ounce.
Compute a specific piece with the melt calculator
To price a specific Silver Libertad against the silver spot price of the day, use the calculator below. Enter the coin's total mass in grams (see the table further down), 99.9 percent as the fineness, then enter the live silver spot price per troy ounce. The result is the coin's melt value in dollars.
Precious metals melt value calculator
Melt value is what the pure metal in your piece is worth at today's spot price. Formula: weight in troy ounces times fineness (purity) times spot price per troy ounce. Enter your numbers below; nothing is sent anywhere.
Not sure what the current spot price is? See how the spot price is set and where to look it up.
Estimate only, not an offer to buy or sell. Melt value is the theoretical value of the pure metal content. Dealers typically pay a percentage of melt (often 60 to 95 percent depending on form, quantity, and buyer type). Conversion constants used: 1 troy ounce = 31.1035 grams; 1 pennyweight = 1.5552 grams; 1 avoirdupois ounce = 28.3495 grams. Spot price is entered by you; this tool never fetches live prices.
The calculator runs the same arithmetic every dealer's back-office system uses: weight in grams multiplied by fineness, converted to troy ounces at 31.1035 grams per troy ounce, priced against the silver spot input. It reports raw melt value, not any dealer spread. Real dealer buy quotes usually sit a few percentage points below melt to cover assay, sorting, shipping, and margin.
Silver Libertad by size, mass, dimensions, and actual silver weight
The table below lists the eight modern Silver Libertad sizes. Fineness is 999 across every row. Actual silver weight per coin is computed from stated mass at 31.1035 grams per troy ounce, so it tracks total mass one-for-one to within 0.1 percent.
| Size | Total mass | Diameter | Thickness | Actual silver weight per coin |
|---|---|---|---|---|
| 1/20 troy ounce | 1.56 grams | 16 mm | 1.0 mm | 0.0501 troy ounces (about 1.558 grams) |
| 1/10 troy ounce | 3.11 grams | 20 mm | 1.4 mm | 0.0999 troy ounces (about 3.107 grams) |
| 1/4 troy ounce | 7.8 grams | 27 mm | 1.7 mm | 0.2505 troy ounces (about 7.79 grams) |
| 1/2 troy ounce | 15.56 grams | 33 mm | 2.35 mm | 0.4998 troy ounces (about 15.54 grams) |
| 1 troy ounce | 31.1 grams | 40 mm | 3.0 mm | 0.999 troy ounces (about 31.07 grams) |
| 2 troy ounces | 62.2 grams | 48 mm | 4.5 mm | 1.998 troy ounces (about 62.14 grams) |
| 5 troy ounces | 155.5 grams | 65 mm | 5.4 mm | 4.995 troy ounces (about 155.35 grams) |
| 1 kilogram | 1000 grams | 110 mm | 11.5 mm | 32.117 troy ounces (about 999 grams) |
Sources: Libertad (coin), Wikipedia specifications table citing La Casa de Moneda de Mexico catalog values (checked August 2026); actual silver weight computed at 31.1035 grams per troy ounce from stated total mass at 99.9 percent fineness.
Annual mintages and why Libertads carry a stronger premium than Eagles
Silver Libertad mintages are small compared with the two largest flagship silver bullion coins. The one troy ounce Silver American Eagle has typically been struck at 20 to 46 million pieces per year in recent decades, and the Silver Canadian Maple Leaf runs at 15 to 30 million per year. The one ounce Silver Libertad has run in the low hundreds of thousands to low millions per year.
The table below shows recent annual mintages of the one troy ounce silver uncirculated Libertad, based on the Mexican Mint annual reports summarized in public collector databases. All numbers are for the standard bullion strike, not for proof or reverse proof issues.
| Year | One-ounce uncirculated mintage | Context |
|---|---|---|
| 1982 | 1,050,000 | First year of issue. |
| 1992 | 2,458,000 | Highest annual mintage in the series so far. |
| 2009 | 1,650,000 | Post-2008 crisis demand pushed mintages higher. |
| 2016 | 1,437,500 | Recent peak year. |
| 2019 | 402,000 | Typical recent-year mintage. |
| 2020 | 300,000 | Low relative to the long-run average. |
| 2021 | 450,000 | Modest rebound. |
| 2022 | 350,000 | Lower than typical recent years. |
Source: Libertad (coin), Wikipedia mintage table for silver uncirculated coins citing Mexican Mint annual reports and public collector databases (checked August 2026).
Small annual mintages help support a stronger secondary-market premium for Silver Libertads than for Silver Eagles or Maples. Collector demand for Mexican bullion is real: the Libertad is the only major world bullion coin without a face value and with a two-era reverse design, and it carries a coat-of-arms obverse motif unique to Mexico. Combined, these factors keep dealer premiums on common-date bullion Libertads noticeably above what Silver Eagles or Maples typically trade at.
Retail premium, Proof, Reverse Proof, and antique finish issues
Silver Libertads almost always trade above their melt value at retail. The premium reflects the smaller annual mintage, the coin's collector following, and the dealer's cost to source it from Mexico or from a secondary-market lot. This section describes the premium in qualitative tiers rather than in specific dollar figures. Real retail markups vary by dealer, by lot size, and by silver spot price.
Common-date bullion Silver Libertads (recent years, ordinary uncirculated finish) typically trade at a stronger premium over melt than Silver American Eagles or Canadian Maples. Dealers commonly quote the premium in dollars per coin rather than as a percentage. That framing makes the premium look proportionally larger at low silver prices and proportionally smaller at high silver prices.
Proof Silver Libertads (struck on polished planchets with mirror fields and frosted devices) trade at meaningfully higher premiums. Proof mintages are typically in the hundreds to low thousands per size per year, and each proof coin ships in Mexican Mint presentation packaging. Original packaging supports higher secondary-market prices than a loose proof coin.
Reverse proof Silver Libertads (introduced for several sizes in 2018 and later) are rarer again. The reverse proof finish (polished device on a frosted field) is the inverse of a standard proof, and mintages are usually a few hundred pieces per year per size. The 2018 antique finish silver Libertad, capped at a total 40,000-piece mintage, is a separate limited issue with its own collector following.
Any dealer pitching a common-date bullion Silver Libertad at multiples of the coin's melt value is running a script the underlying market does not support. The Federal Trade Commission has published general consumer guidance on inflated pricing in bullion and coin sales for United States buyers (source: Federal Trade Commission, Consumer Advice on investing in bullion and bullion coins). Treat any premium above the ordinary bullion range on a common-date piece as a claim the seller has to justify.
The IRA eligibility question for the Silver Libertad
Silver held inside a United States self-directed IRA must be at least 99.9 percent fine under 26 U.S.C. Section 408(m)(3)(B). The Silver Libertad is struck at exactly that fineness, so it clears the statutory fineness test.
Custodian acceptance in practice can lag the statute. Some self-directed IRA custodians only accept a narrow set of silver coins they have explicitly added to an internal approved list. Silver Eagles, Silver Maples, and Silver Britannias appear on almost every custodian list; the Silver Libertad appears on many but not all.
Anyone planning to place Silver Libertads into a self-directed silver IRA should confirm with the specific custodian and approved depository before purchase. See our silver IRA fineness requirement reference for the full statutory rule.
Holding a Silver Libertad in a retirement account is a separate topic with its own custodian, depository, and tax rules. This page addresses the coin as a physical asset held outside a retirement account, which is how most Silver Libertads are actually bought and sold.
A five step check on a Silver Libertad in hand
The steps below turn the specifications above into a repeatable check for a single coin. Follow the same five steps on every Silver Libertad in a lot and no piece will be mispriced against melt.
- Read the date and identify the design era. Silver Libertads have been struck every year since 1982. Coins dated 1982 through 1995 show a front-facing view of the angel on the reverse. Coins dated 1996 forward show a three-quarter side profile. From 2000 forward the obverse also shows ten past versions of the coat of arms around the current one. A date and design that do not match this pattern is a red flag.
- Identify the size and weigh the coin. Use the size table above to identify the size, then weigh the coin on a scale that reads to 0.01 grams. A one-ounce Silver Libertad should read close to 31.1 grams. A significant deviation, more than about 0.15 grams either way, is a red flag that warrants a diameter check and a specialist verification.
- Apply a magnet test. Pure silver is not magnetic. Any Silver Libertad that a common household magnet sticks to is not authentic. This test rules out iron-core and steel-core counterfeits at zero cost.
- Check the design against a reference photograph. Look for the Mexican coat of arms on the obverse (with the ten past-version ring on coins dated 2000 and later) and the Winged Victoria with volcanoes on the reverse. The Spanish inscription ESTADOS UNIDOS MEXICANOS must appear around the obverse. A blurred, misaligned, or off-color design is a red flag on any bullion coin.
- Compute the silver content and the illustrative melt. Multiply the total mass in grams by 0.999 to get pure silver grams, then divide by 31.1035 to get troy ounces. Multiply by the live silver spot price per troy ounce for the coin's melt value in dollars.
The five steps take under a minute per coin once the scale and magnet are on the workbench. Anyone buying more than a handful of Silver Libertads at a time should also request the dealer's bullion verification service or a paid assay from an independent lab.
A worked example on a monster box of 450 Silver Libertads
Casa de Moneda de Mexico packages ongoing bullion one-ounce Silver Libertads in tubes of 25 coins, with monster boxes typically holding 18 tubes for 450 coins per box. The math for a full monster box sits below.
Picture an inheritor who finds a sealed monster box of 450 one-ounce Silver Libertads in a parent's safe. Every coin in the box is dated 2016, and the box has the original Mexican Mint tamper-evident seal intact.
- Silver content per coin, one-ounce Silver Libertad at 999 fine: about 0.999 troy ounces of silver.
- Silver content of the full monster box: 0.999 multiplied by 450 coins equals about 449.55 troy ounces of silver.
- Illustrative silver spot price for the example: 30 dollars per troy ounce.
- Illustrative melt value of the box: 449.55 troy ounces multiplied by 30 dollars per ounce equals about 13,486.50 dollars in silver content per box.
- Illustrative retail sell value at a strong premium over melt, assuming a dealer pays roughly melt plus three dollars per coin on a common-date sealed monster box of a low-mintage sovereign coin: 13,486.50 plus (450 multiplied by 3 dollars) equals 14,836.50 dollars. Real per-coin premiums for Silver Libertads vary by dealer, by year, and by silver spot price. Sealed original-packaging monster boxes usually clear at higher premiums than loose lots.
Substitute a different spot price to reprice the box. At 25 dollars per ounce the melt is about 11,238.75 dollars. At 35 dollars per ounce the melt is about 15,734.25 dollars. At 40 dollars per ounce the melt is about 17,982.00 dollars.
Figures are illustrative, not quotes from any specific dealer and not predictions of future silver prices. Spot prices are examples, not forecasts. This is not tax or investment advice. Consult a licensed advisor for personal decisions.
A monster box of proof or reverse proof Silver Libertads would price much higher per coin. Proof mintages are a small fraction of the bullion mintage, and Mexican Mint proof packaging with original documentation supports collector prices well above the melt-plus-premium bullion figure.
Limits and caveats to keep in mind
Every melt figure on this page is a computation from a stated silver spot price, not a quote from a dealer and not a forecast. Silver prices move continuously during market hours. Any dollar figure here uses illustrative spot prices of 25, 30, 35, or 40 dollars per troy ounce. Those are clean round numbers used for teaching, not market predictions.
Dealer buy prices sit below melt by design. Any commercial buyer needs a spread on the transaction to cover assay, sorting, shipping, insurance, and margin. A single-tube walk-in usually sees a wider spread than a monster-box lot delivered on a shipped order. Sellers should call two or three bullion dealers and compare quotes on the same day, then decide whether the spread justifies the sale.
The absence of a numeric face value does not affect melt. Modern Silver Libertads are legal tender in Mexico at the market value of their silver content, guaranteed by Banco de Mexico. That guarantee is a statutory backstop, not a market quote, and it has no bearing on what a Silver Libertad is worth in dollars against the day's silver spot price.
Collector and premium values on proof, reverse proof, and antique-finish issues are qualitative on this page. Real market prices for specific dates, packaging conditions, and finish grades depend on published price guides and completed auction sales. Anyone selling a low-mintage proof example should check current listings against completed sales on major public marketplaces before quoting a premium.
Older Silver Libertads (1982 through 1995) have slightly different diameters and thicknesses than post-1996 coins in the fractional and one-ounce sizes. Fineness and silver content per weight are unchanged. Anyone weighing an older coin against a modern reference spec should use the corresponding earlier-era spec rather than the current values in the table above.
Silver Libertad questions, answered
How much silver is in a one-ounce Silver Libertad?
A one-ounce Silver Libertad holds close to one troy ounce of pure silver. The formal figure is 0.999 troy ounces per coin, computed from a total mass of 31.1 grams at 99.9 percent silver fineness. For practical melt purposes, the coin is treated as holding one full troy ounce of silver.
What is a Silver Libertad worth today?
The melt value equals the silver content multiplied by the day's spot silver price. At an illustrative 30 dollars per troy ounce, a one-ounce Silver Libertad holds about 30 dollars in silver. Substitute the current spot price to reprice. Retail dealers usually quote a stronger premium over melt on common-date bullion Libertads than on Silver Eagles or Maples, because annual Libertad mintages are much smaller.
What sizes does the Silver Libertad come in?
Modern Silver Libertads are struck in eight standard sizes: 1/20 troy ounce, 1/10 troy ounce, 1/4 troy ounce, 1/2 troy ounce, 1 troy ounce, 2 troy ounces, 5 troy ounces, and 1 kilogram. All eight are struck at 99.9 percent silver fineness. That is a wider size range than any other flagship sovereign silver coin.
Does the Silver Libertad have a face value?
No. Modern Silver Libertads carry no numeric face value on their surface. They are legal tender in Mexico, guaranteed by Banco de Mexico at the market value of their silver content on the day of use. The absence of a face value is unusual among flagship sovereign silver coins, most of which carry a token amount in the issuing country's currency.
Why do Silver Libertads carry higher premiums than Silver Eagles?
Annual Silver Libertad mintages are small compared with the Silver American Eagle. Recent one-ounce Silver Libertad mintages have run 200,000 to 1,500,000 per year, while Silver Eagle mintages have run 20 to 46 million per year. That scarcity, combined with strong collector demand for Mexican bullion, supports a stronger secondary-market premium per coin on the Libertad than on the Eagle.
Is the Silver Libertad IRA eligible?
Yes, on the fineness test. Silver held in a United States self-directed IRA must be 99.9 percent fine or better under 26 U.S.C. Section 408(m)(3)(B), and the Silver Libertad meets that standard. Custodian acceptance varies in practice: some custodians only allow silver coins on an internal approved list. Confirm with the specific self-directed IRA custodian and approved depository before purchase.
What is the difference between the pre-1996 and post-1996 Silver Libertads?
Silver Libertads from 1982 through 1995 show a front-facing view of the Angel of Independence on the reverse. Silver Libertads from 1996 forward show a three-quarter side profile of the same figure. Some early fractional and one-ounce sizes also had slightly smaller diameters and greater thicknesses than the current standard sizes. Fineness and silver content per weight are unchanged.
Are Silver Libertads legal tender in the United States?
No. Silver Libertads are legal tender in Mexico, backed by Banco de Mexico at the market value of their silver content, not in the United States. American holders can sell a Silver Libertad to a bullion dealer, a coin shop, or an online buyer at its silver content value plus any collector premium. The coin has no monetary status in ordinary American commerce and would not be accepted at a United States retail counter.
Sources
- Libertad (coin), Wikipedia summary of the Mexican bullion coin series, including La Casa de Moneda de Mexico production, specifications table, and annual mintage tables. Checked August 2026.
- Banco de Mexico, Users Portal for banknotes and coins (issuing authority for Mexican legal-tender coinage). Checked August 2026.
- La Casa de Moneda de Mexico (Mexican Mint) official website, issuing mint for the Libertad silver and gold series since 1981/1982. Checked August 2026.
- Cornell Legal Information Institute, 26 U.S.C. Section 408 (fineness rules for gold and silver held in a United States self-directed IRA). Checked August 2026.
- Federal Trade Commission, Consumer Advice on investing in bullion and bullion coins (inflated pricing red flags for US buyers). Checked August 2026.
- London Bullion Market Association, Good Delivery standards for gold and silver bars (industry reference for silver fineness convention). Checked August 2026.
