Last Updated on April 17, 2024 by Ben
Chile Gold 100 Pesos
The Chile Gold 100 Pesos is a beautiful and historic gold coin that Chile’s national mint has minted. The coins are no longer in production, but they continue to be popular with collectors and investors alike. This article will explore the history of these coins and their design elements that make them so unique and desirable today.
100 Chilean Peso Gold
The Chile Gold 100 Pesos are a perfect investment because they have significant numismatic value and intrinsic worth. These coins were the first in their nation to be minted, made by Casa de Moneda de Chile, so you know that your money is safe with them.
Chile Gold 100 Pesos Background and History
The Inca Indians conquered Chile by Pedro de Valdivia, who established its capital Santiago in 1541. Of all the top priorities of the Spanish in subjecting practically all of South America (besides Brazil), one of them was to obtain gold. Chile has a long-running history of producing gold coins for the past century. Chile’s interesting history with gold coins has made it a popular subject for gold collectors.
Chile established its own nation in 1810, which was then completely liberated from Spanish rule just a few years later in 1818. They have experienced a varied history with money, ranging from long time periods of high inflation to shorter periods of relative stability. From 1926-1980, the Santiago Mint in Chile produced this beautiful long-running series of gold coins. The design is considered among the most striking in the international gold coin world, and collectors are drawn to it.
There are not many of these Chile Gold 100 Pesos coins. A large portion of this coin’s production occurred in 1926, when 678,000 were minted. These coins are the most expensive in the series and more than twice as costly to purchase as last year’s releases. The minting of coins is limited. Usually, only a few hundred thousand coins are made each year. Only 25,000, 100,000 and 50,000 coins were struck from 1978 to 1980 respectively.
Chile Gold 100 Pesos Physical Characteristics
Coin Design
The front side of these coins is called the “obverse.” On this type, a depiction of Lady Liberty facing to the left can be seen in the middle. This female head stands for the Republic. She wears a dress from Chile. Around the top half of the coin is written: “Republic of Chile.” At the bottom center is the date when this coin was made.
The back of the coins is always called the “reverse” in the world of coin collecting. On the reverse side of a Chile Gold 100 Pesos, you’ll find the national coat of arms, designed with laurels and palms. The reverse of the coin consists of a shield bearing a five-pointed star from which feathers emerge. The shield on the back of this coin is decorated with two animals, an eagle, and a deer. The animal heads are crowned, and below the shield lies a laurel wreath in delicate relief. Atop one arc is inscribed “CIEN PESOS” so that you know how much it costs to buy these coins.
The bottom rim of the coin bears the phrases “100Ps” and “DIEZ CONDORES.” On the right side of the shield, you will find a monogram, “So,” which is the mint mark for Santiago de Chile. This place is where the coins were produced.
Specifications
This gold coin comes with a little more than half an ounce of actual gold, for approximately .53 troy ounces.
- Mass: .5886 troy ounces
- Thickness: 2.1 mm
- Diameter: 31.1 mm
- Content: 90.0% gold
Can IRA Accounts Contain Chile Gold 100 Pesos Coins?
It is important to know the IRS sets restrictions on gold coins. For example, you can only add a coin that has both purity and collectability standards set by the Internal Revenue Service in your Self Directed Precious Metals IRA account if it measures up “to” their criteria of these qualities.
For an investor to qualify for a precious metals IRA, they are mandated to buy at least $5,000 worth of bullion. Subsequent purchases may continue towards lower minimums of $1,000.
Those who own another type of IRA can roll over their funds into a precious metals IRA. The mint carries out the process and is able to store your bullion securely in an offsite depository that’s approved by the IRS as well.
Chile Gold 100 Peso coins are not made of .995 gold. They have a purity level of only 90%. Even if they contained the required gold purity for collectible coins, they would not meet IRS specifications. You can not put these coins in a self-directed IRA account. But they are really valuable, and when you trade them, you get a lot more money than if it was in your wallet.
They make interesting investment choices for other kinds of holdings. You can buy these Chile Gold 100 Pesos coins from a variety of reputable bullion dealers in the world.
Chile Gold 100 Pesos Pricing
These Chile Gold 100 Pesos coins are legal tender in the Republic of Chile and have a face value of one hundred pesos, as indicated by the actual coin. Holders of the coin can trade it for goods and services in Chile. But no one will do that because there is no value. The reason is that the price of such coins, or the value they have, is higher. The price depends on the spot price of gold and also how many coins are available in a year.
The intrinsic value of coins is what anchors their market price. The market price is the amount a coin can be sold to invest or retire its worth in gold. The price of a 100 pesos coin is substantially higher than the spot price of gold. This derives from the substantial demand of collectors and investors.
The cost of minting these coins, along with their distribution costs, necessitates a premium in order to maintain an active circulation. Because the market value of gold fluctuates each day and its conversion rates, the actual price is always changing and may be significantly lower or higher than one would expect.
Conclusion
This is a beautiful coin, and it has the potential to be an excellent investment. It’s always best to do your research before investing in any numismatic or bullion product. Still, if you’re looking for something new that could add some great interest to your portfolio, this might be worth considering. The Chilean Gold 100 Pesos Coin is loved by investors due to its 90% gold content, making it more valuable than most other coins on the market today.