I have had 2 in hand before. They are "1 peso" fantasy pieces, and this one is " Agustin" and another similar is Maximillian 1866-67. Weighed about 1/2 gram and did contain some gold, but what karat I did not determine. They seem to have come onto the market in the late 60s or early 70s. One reference I received but forget the source, indicated that they were often used as "wedding" pieces. If you have access to interlibrary loan, ask for Whitman's A guidebook of Mexican coins 1822 to date, by Buttrey and Hubbard.They give some background.
Thanks Jim. Thanks to your description, I was able to find one on ebay that the seller couldn't even unload for $9.99 so I imagine the gold content is not so impressive. I appreciate the info.
Happy to help! The 2 I had seen and had to research for a few years ago both came from an antique dealer here on the Mexican border, and I gathered they had more than they showed me
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