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1000 Pesos 50th Anniversary of Nationalization of Oil Industry
| Issuer | Casa de Moneda de México |
|---|---|
| Year | 1988 |
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| Currency | Peso (1863-1992) |
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|---|---|
| Obverse script | Latin |
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| Reverse description | The left-facing bust of President Lázaro Cárdenas del Río dominates the central field, presented in bold relief as the principal motif commemorating his role in signing the 1938 oil nationalization decree. The denomination $1000 appears to the left of the portrait, while the mint mark Mo and fineness LEY 0.900 are inscribed to the right. The legend EXPROPIACION PETROLERA arcs along the upper periphery, with L. CARDENAS and 50 ANIVERSARIO flanking the lower field, and the commemorative date range 1938 - 1988 completing the design. |
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| Additional information |
Mexico's oil nationalization on March 18, 1938 was Lázaro Cárdenas's most consequential act as president — he expropriated the assets of seventeen foreign oil companies, mostly British and American, and created Pemex. The move forced the Mexican government to pay compensation in installments stretching into the 1940s while facing a coordinated consumer boycott of Mexican goods abroad. This 1988 commemorative marks the fiftieth anniversary of that expropriation.
The .900 gold specification ties directly to Mexico's long-standing coin gold standard rather than the .999 fine used for bullion issues of the same period. KM#535 was a limited commemorative strike, not a circulation piece.