1823 Iturbide 8 Escudos Gold Coin: Value & How to Sell

If you inherited or found an 1823 8 Escudos gold coin from Agustín de Iturbide, you have one of the most sought-after gold coins in all of Mexican numismatics. This is not a common inherited coin worth its weight in gold and nothing more. Genuine examples in collectible grade sell in the thousands to tens of thousands of dollars, driven by extreme rarity, not just the gold content.

What it's worth right now (in 2026)

The 1823 Iturbide 8 Escudos is a serious rarity. It was struck during the brief reign of Agustín de Iturbide, who ruled as Emperor of Mexico for less than a year before the First Mexican Empire collapsed in 1823. Very few of these gold pieces were minted, and fewer survive today, which is what pushes prices far above melt value.

Here is the reality on value:

• Melt floor: the coin contains 27.03 grams of 0.900 fine gold, which is roughly 0.782 troy ounces of pure gold. At recent gold prices that puts the raw metal value alone around 2,000 to 2,500 USD. No genuine example should ever sell below its gold content.
• Collector value: because of the historic one-year emperor design and low survival, authentic examples in decent condition routinely trade well into five figures. In problem-free collectible grades, expect figures in the range of 8,000 to 30,000 USD or more, depending on grade and eye appeal.
• Top examples: the finest certified specimens, especially those graded by NGC or PCGS in high mint-state condition, have brought the highest prices at major US auction houses like Heritage Auctions and Stack's Bowers.

If your coin is genuine and graded, it is worth getting a formal appraisal before selling.

Coin specifications

Feature	Detail
Denomination	8 Escudos (gold)
Year	1823
Ruler	Agustín de Iturbide, Emperor of Mexico
Mint	Mexico City
Assayer initials	JM
Metal	Gold, 0.900 fine
Weight	27.03 g
Diameter	37 mm
Edge	Diagonal reeded
Catalog reference	KM#314

The 8 Escudos, popularly called an "onza" (ounce) in the old Spanish colonial system, was the largest gold denomination of its era. The JM initials belong to the assayer, the mint official responsible for certifying the metal's purity.

Why this one is genuinely valuable (and not hype)

Most old coins are worth little more than their metal. This one is different for concrete reasons:

1. Extremely short political window. Iturbide's empire lasted less than a year, so coinage under his name is scarce by definition.
2. Low survival. Gold coins of this period were frequently melted, exported, or lost. Few original examples remain in collectible condition.
3. Strong collector demand. Imperial Mexican gold is a well-known specialty among US and international collectors, so genuine pieces find buyers fast.

That combination, real rarity plus steady demand plus high gold content, is exactly what drives a coin far above face or melt value.

How to tell if yours is genuine

Gold coins this valuable attract counterfeits, so verify before you celebrate or sell.

• Weigh it. Use a jewelry scale. A genuine coin weighs 27.03 grams. Off-weight coins are a red flag.
• Measure it. Diameter should be 37 mm. Check the edge: it should show a diagonal reeded pattern.
• Check the details. Look at the mint mark, the assayer initials (JM), and the engraving style. Fakes often get the lettering, portrait, or eagle wrong.
• Be suspicious of bargains. Any offer well below the gold value is almost certainly a fake or a scam.

For a coin in this price range, professional certification by NGC or PCGS is worth the fee. A graded, slabbed coin sells faster and for more, because the buyer trusts the authentication.

Where to sell or appraise it

Because this is a high-value precious-metal coin, sell where you can get a real appraisal and a fair market price:

• A verified numismatic dealer from the Pesoteca directory, who can value it on the spot without middleman markups.
• The Pesoteca buy-and-sell forum, where collectors trade directly.
• For top examples, a major auction house (Heritage, Stack's Bowers) reaches the deepest pool of serious buyers.

Photograph the obverse, reverse, and edge clearly before listing. Never hand over the coin or accept payment until authenticity and weight are confirmed. If you're unsure what you have, post it in the Pesoteca forum and let the community weigh in.

Have an 1823 Iturbide 8 Escudos in a box of inherited coins? Share your photos in the forum and find out whether you're holding a few thousand dollars in gold or a genuine collector rarity worth far more.