Mexico Silver Prices

Today’s silver price can fluctuate on a moment-to-moment basis with neutral trading or volatile highs and lows. Although the current price of silver trades in an arbitrage-free market, it is converted into multiple currencies for ease of local trade. Below you can view the current spot silver price priced in Mexican pesos. This chart shows how much silver per ounce costs right now, so take a look!

Silver in Mexico

Silver is a precious metal that is traded all over the world and can be quoted in any currency. Today’s silver price is commonly priced in terms of ounces, grams, and kilograms. In Mexico, the current price of silver is quoted in Mexican pesos, but you might also see it in US dollars.

Mexico is one of the biggest producers of silver in the industry. In 2019, the country produced 190.3 million troy ounces of silver, leading far ahead of Peru at 135.4 and China at 110.7. Mexico is home to some of the largest known silver mines in the world, most of it coming from the Mexican silver belt known as La Faja de Plata. This belt is about 800 kilometers long, and it is along the Sierra Madre Occidental Mountains. With the silver from the Mexican belt, the country is able to strike its beloved Mexican silver coins, especially the Mexican Silver Libertad.

The silver price can vary on a minute-to-minute basis because of internal and external factors whenever the market is open. This includes: 

• Currency Strength
• Jewelry Demand
• Equity Markets
• Geopolitical Events & Policies
• Industrial Demand
• Inflation
• Interest Rates
• Investment Demand
• Supply
• Other precious metals, like gold
• Risk appetite and aversion

Industrial Uses of Silver

Silver sees demand on several major fronts including silver bullion, industrial components, and jewelry. As a result, any new support or lack of interest from these industries will affect the spot silver price. So, like with any other kind of investment, today’s silver price can see fluctuations in either direction depending on a variety of factors, but especially owing to supply and demand.

Although silver is available in many sizes, one troy oz remains the most popular in the west. This is why we offer our Mexican silver price chart in 1 troy ounces.

Industrial demand is one of the largest consumers of silver. Some of the top industrial applications for silver range from solar panel production to medical equipment, touch screens, chemical production, and water filtration systems. As more and more industries find new uses for silver to support green energy, silver prices today are finding new support in the higher demand.

Silver often moves in the same direction as other precious metals, like gold. Investment demand for silver usually overlaps with gold because silver is valued as a less expensive alternative to gold. Demand for both often comes from people seeking protection against inflation or geopolitical risks. Economic mechanisms that might bolster the spot silver price can go further than simply supply and demand because of the London silver price. Additionally, exposure to the market through paper silver, like futures contracts and ETFs, plays a hand in determining the silver price.

The Mexican Economy

Mexico’s economy is becoming increasingly powerful owing to it being one of the largest in the world. The country mostly relies on its exports to mostly the US, Canada, China, and Japan. After the North American Free Trade Agreement (NAFTA) of 1994, trade between Mexico, Canada, and the US increased dramatically. The country also has free trade agreements with other countries to encourage more trade and streamline the movement of goods and services. The majority of exports from Mexico include vehicles, electronics, oil, machinery, plastics, gemstones, iron, steel, and vegetables.

The Mexican Mint: Casa de Moneda de Mexico

La Casa de Moneda de Mexico is Mexico’s official mint. This name officially translates to “The Mint of Mexico,” and it is based in Mexico City. This mint is the oldest and the first in the Americas, having been established by royal decree in 1535 under the Spanish viceroy Antonio de Mendoza. Mexico did not gain independence until 1810, after which the country saw a rise in nationalistic symbols. These symbols inspired the ever-popular Mexican Libertad coins in silver and gold.

The Mexican Silver Libertad

The Mexican Silver Libertads have been around since 1982. Ten years later, the original .999 fine silver coin was produced in sizes other than the standard 1 troy oz weights. Additional sizes include 1/20, 1/10, 1/4, 1/2, and later, 2 and 5 troy oz. Each coin displays the Mexican Coat of Arms, but the larger denominations also feature other renditions of the coat of arms from years past. The reverse showcases the “El Ángel” or the Angel of Independence, a monument established in 1910 in Mexico City. Bullion Exchanges is pleased to offer Mexican Libertad silver coins for sale each year. Because of the wide popularity of the Mexican Libertads, these do not last for very long! Be sure to grab yours as soon as possible to secure your investment.