How to Identify the Mexican 1 Peso

Start with size and metal. The Caballito peso is a large silver coin, about 39 mm in diameter and clearly heavy in the hand, with a reeded (grooved) edge. A much smaller or lighter piece with a similar design is likely a lower silver denomination or a modern copy rather than the full peso.

Identify the signature reverse. The defining feature is the winged Victory figure seated on a horse, holding a torch or flame aloft with a burst of sun rays behind. The date sits below the design; on this example it reads 1913. This "caballito" scene is unique to the 1910-1914 peso and is the fastest way to confirm the type.

Check the obverse. You should see the Mexican national coat of arms, an eagle with outspread wings perched on a cactus and grasping a serpent, ringed by the legend "ESTADOS UNIDOS MEXICANOS." The denomination "UN PESO" should also be present. Confirm the date falls within the 1910 to 1914 range, since the type was not struck outside those years.

Distinguish look-alikes. Later Mexican pesos abandoned the horseback design, using instead a Cap-and-Rays (Liberty cap) motif or, still later, portrait busts such as Jose Morelos, so a peso without the mounted Victory is a different type. Be aware that the eagle coat of arms appears on nearly all Mexican coinage, so the reverse Victory scene, not the eagle, is what pins down the Caballito.

Authenticate with caution. Because the type is desirable, cast and struck counterfeits exist. Weigh and measure the coin, inspect the edge reeding, and look for casting seams, a soft or "soapy" surface, or incorrect detail on the horse and Victory. When value is significant, seek an experienced dealer or third-party grading before buying or selling.