The 1947 Mexican 50 peso, like the 1915 Austrian 100 Corona, served the function a bullion coin during the 1960s and 1970s, and is generally available today. It too is a restrike, that is, a coin that was reissued for a number of years with the same date -- 1947 -- in order to assure it would not gain a numismatic premium.

Known popularly as the Centenario because it commemorates the 100-year anniversary of Mexico's independence, the Mexican 50 peso restrike is generally found in uncirculated condition. The obverse depicts a winged Liberty against a backdrop of the volcanoes Ixtaccihuatl and Popocatepetl, named after two star-crossed lovers in Aztec mythology. The reverse depicts an eagle holding a snake in its beak and perched on a cactus. Legend has it that the Aztec people, after wandering in the desert for 200 years, founded Tenochtitlan (which later became Mexico City) on the spot where they saw an eagle and snake so described.

The Mexican 50 peso is the largest of the gold bullion coins at 1.2057 ounces fine gold and, as such, was the first bullion gold coin to trade in excess of $1000. From 1949 to 1972, 3.9 million 50 peso coins were struck and distributed globally. Though the restrikes trade at modest premiums to the gold price, the older mintages from 1921 to 1931 command significantly higher premiums. Many consider the Mexican 50 peso to be one of the most artistically pleasing gold coins available.