Business

Where and how to buy a Centenario to take advantage of the fall in gold? This is the step by step – El Financiero

Do you want to buy a Centennial? This Friday September 23 can be a good day. The price of gold fell in today’s session more than one percent and is at its lowest level since April 2020.

The price of gold collapsed this Friday, after the announcement of the Federal Reserve of the United States, which raised its interest rate by 75 points.

half a day, andSpot gold fell 1.48 percent to settle at $1,656.15 per ounce, while US gold futures fell 0.5 percent to $1,672.10.

the price of gold has fallen about 20 percent since it exceeded two thousand dollars per ounce last March.

“Rising US yields continue to put pressure on gold prices. Unless yields suddenly start to drop and the dollar starts to weaken, we probably won’t see significantly higher gold prices,” said Michael Hewson, chief market analyst at CMC Markets.

The Fed started raising rates in March. and gold has basically trended lower ever since, and if the Fed continues to go higher, gold will continue to go lower,” he added.

Where and how to buy a Centenario?

Until 2:00 p.m. this Friday, the centenary was listed at 41,800 pesos for sale and in 21,800 pesos to purchase, according to Banamex.


If you want to buy a Centenario, you have different options to do so.

The Mexican Mint is one of the alternatives to buy Centenaries. According to their website, these are the requirements that they will request from you.

  • Payments can only be made by electronic transfer (SPEI).
  • Cash or check deposits are not accepted.
  • The maximum purchase amount is 50 thousand Mexican pesos plus shipping costs.
  • Payment must be made by electronic transfer, the same day the quote was requested, no later than 2:00 p.m.

Also, you should know that the sale of Centenaries in the Casa de Moneda de México takes place from 9:30 a.m. to 2:00 p.m. and that the price may have a daily variation, due to the international price of metals.

If you buy a Centenario at the Casa de Moneda, the delivery process will begin after confirmation of payment. “Home delivery will be from 3 to 10 business days only within the Mexican Republic, or delivery service (OCURRE) in stores in San Luis Potosí in Plaza Citadella and in Mexico City, in Paseo de la Reforma 295″, indicates the website.

If you need more information about quotes and payment methods, you can send an email to rsantos@cmm.gob.mx and/or contact a sales advisor at tel: (+444) 834-60-00 ext: 3905; 6033 and/or 6039 from Monday to Friday from 9:30 a.m. to 8:00 p.m.

Do banks sell Centenarios?

The Bank of Mexico (Banxico) has a network of distributors that satisfy the demand for Mexican coins in precious metals both abroad and in the local market.

In Mexico, coins are mainly distributed through banks. This is the list of national distributors of Banxico gold coins:

  • Azteca Bank
  • Banorte
  • banregio
  • BBVA
  • Cibanco, S.A.
  • Mexican Mint
  • MIDE Interactive Museum of Economy
  • Ecological Solutions in Metals, SA de CV
  • Coins Briggs SA DE C.V

The requirements to buy a Centennial They depend on each of the distributors. For example, BBVA requests:

  • That the interested person go to a BBVA branch with their valid official identification. It can be the INE or IFE credential
  • If the purchase is made with a charge to a BBVA account, you must present your debit card
  • If you are not a BBVA customer, the amount of coins sold is up to the equivalent of $3,000 dollars and the payment must be in cash.

“The price of the coins is determined considering the international price of gold and silver, as well as the peso/US dollar exchange rate,” indicates the BBVA website.

What is a Centennial made of?

Through its website, the Bank of Mexico (Banxico) indicates that “this piece was minted in 1921 as a current mint coin to commemorate the first centenary of the Independence of Mexico.

In 1931 its minting was suspended and it was not until 1943 that it was minted again due to the growing demand for gold coins that existed at that time.

Every Centenary shows on the obverse one of the national coats of arms used in the past, while the reverse symbolizes a Winged Victoryrepresented in the monument of the Angel of Independence, along with a background of the legendary Iztaccíhuatl and Popocatépetl volcanoes.

“This piece has a pure gold content of 1.20565 ounces and like all the pieces of the Centennial family, it has a purity of 0.900″he concludes.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button