1/2 oz Silver Libertad 2004: Value & Prices

If you found a 2004 1/2 oz Silver Libertad, here's the short answer: it's worth more than a standard silver coin because only 20,000 were struck. Melt value alone sits around 8 to 10 USD, but the low mintage pushes collector prices higher, especially in top grades.

The Libertad is Mexico's flagship modern silver series, produced by Banco de México (the country's central bank). Most Libertads are 1 troy ounce, but this is the 1/2 ounce fraction, which was minted in far smaller numbers. That scarcity is the whole story with this coin.

What it's actually worth in 2026

Value on this piece comes from two things: its silver content (a floor price) and its low mintage (the premium). At 15.5517 grams of .999 fine silver, the metal alone is worth roughly 8 to 10 USD depending on the daily spot price. No 2004 1/2 oz Libertad is worth less than its silver.

Above that floor, the 20,000-piece mintage does the work. Compared to the 1 oz Libertad, which was struck in the hundreds of thousands most years, the 1/2 oz fractional is genuinely scarce, and the 2004 date is one collectors watch.

Grade / condition	Approximate value (USD)
Circulated / handled	15 to 30
Uncirculated (raw, clean)	40 to 80
MS-68 to MS-69 (certified)	90 to 175
MS-70 (certified, top pop)	200 to 400+

These are collector ranges based on the fractional Libertad market. A raw coin with fingerprints, spots (silver milk spots are common on Libertads), or wear lands at the low end. A certified MS-70 from NGC or PCGS is what commands the real premium.

Coin specifications

Here are the exact numbers, straight from Banco de México, so you can verify what you have:

Spec	Detail
Denomination	1/2 oz Libertad (fractional)
Year	2004
Metal	.999 fine silver
Weight	15.5517 grams (1/2 troy ounce)
Diameter	33 mm
Edge	Reeded
Finish	Bullion (satin)
Mintage	20,000 pieces
Mint mark	Mo (Mexico City)

The obverse shows the Mexican national coat of arms (an eagle on a cactus devouring a serpent) with the legend 'ESTADOS UNIDOS MEXICANOS'. The reverse shows the Winged Victory from Mexico City's Angel of Independence monument, with the Popocatépetl and Iztaccíhuatl volcanoes behind her, the 'Mo' mint mark, and the date 2004.

The myth to avoid

A 2004 1/2 oz Libertad is a good coin, not a jackpot. You'll see listings and social media posts implying any Libertad is worth hundreds of dollars. In reality a worn or spotted example is worth 15 to 30 USD, and the four-figure numbers you might see attached to Libertads belong to different dates, the 1/20 oz fraction, or specific proof issues, not this bullion piece. Know which coin you actually have before you get excited.

How to check what yours is worth

Start with the physical checks. Weigh it on a jewelry scale: it should read 15.5517 grams. Measure the diameter: 33 mm. Fakes usually miss on weight or diameter, or show flat, mushy relief. Since this is a precious-metal coin, treat any offer far below silver value as a warning sign.

Condition drives the price. Look for wear on the high points of the Winged Victory, plus milk spots and fingerprints, which knock down the grade. If the coin looks clean and uncirculated, it may be worth getting it certified by NGC or PCGS, since a graded MS-69 or MS-70 sells for a multiple of a raw coin.

To sell, use a verified coin dealer from the Pesoteca directory, which can value it on the spot, or list it in the Pesoteca buy-and-sell forum among collectors who know the fractional Libertad series. Photograph the obverse, reverse, and edge, and check the range in this guide before you accept an offer. Don't dump it to the first Facebook bidder.

Want to compare it to the full series? See our guides on the 1 oz Silver Libertad and other Mexican silver coins worth money. Not sure what grade yours is? Post clear photos in the Pesoteca forum and let the community weigh in before you sell.

1/2 troy ounce Libertad silver 2004 Regular BU

This piece is the silver Onza Libertad in 1/2 troy ounce, struck by the Mexican Mint in 2004 in its Regular BU version.

Technical sheet. It contains 15.55 g of pure silver, .999 fineness, and measures 33 mm in diameter. On the reverse it carries the effigy of the Angel of Independence, chosen by Banxico as the official symbol of the series since 1981. On the obverse appears the National Coat of Arms in its pre-1969 version, along with other historical coats of arms as an identity mark of the family.

Role within the set. It is the upper-intermediate fraction. It weighs exactly half of the flagship piece and is usually struck in smaller runs than the full ounce, which gives it a profile of relative scarcity within that year's set.

Context of the year. In 2004 Vicente Fox Quesada was governing. The first physical-silver ETF in the United States, the iShares Silver Trust, was launched. International demand for bullion silver took off.

Regular BU finish. The Regular finish, cataloged by Banxico as satin or BU, is achieved with dies that have no special polishing. The result is an even matte luster across the whole surface, with no mirror contrast between fields and relief. It is the traditional bullion finish: it is bought for its weight in pure silver plus a modest die premium. It is the version hunters seek to build the complete set by year without decapitalizing on each piece.

Run. Banxico reported in its official tables a minting of 2,813 pieces for this combination of fraction, year, and finish. That number is the basis for measuring the piece's relative scarcity within the program.