Monday, October 19, 2020

Tag: The ‘Liberty’ Silver Ounce: its Origin and its Future

The ‘Liberty’ Silver Ounce: its Origin and its Future

by Hugo Salinas Price, Plata:

Don Jose Lopez Portillo became President of Mexico in 1976.

In 1981, President of Mexico Lopez Portillo ordered the creation of a silver-ounce coin, the “Liberty Ounce”, whose weight was to be 31.1 grams, the weight of a Troy ounce. This coin was to bear no engraved monetary value.

President Lopez Portillo’s intention was to provide Mexicans with a solid, traditional monetary instrument that would enjoy an official monetary quote, to be determined daily by Mexico’s Central Bank.