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5000 Pesos Pattern, 50th Anniversary of Nationalization of Oil Industry, Bimetallic
| Issuer | Casa de Moneda de México |
|---|---|
| Year | 1988 |
| Type | Coin pattern |
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| Composition | Log in to see details |
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| Reverse lettering | $5000 CINCUENTENARIO 1988 1938-1988 Mo EXPROPIACION PETROLERA |
| Edge | Reeded |
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| Additional information |
This piece was struck to mark the fiftieth anniversary of President Lázaro Cárdenas's March 18, 1938 expropriation decree, which nationalized foreign oil holdings — primarily British and American — and created Pemex. The political shock was considerable: Britain severed diplomatic relations with Mexico entirely, and the U.S. applied sustained economic pressure. Mexico paid off the expropriation debt in installments that ran until 1962.
As a pattern, it never entered circulation. The bimetallic construction anticipates the format Mexico would later adopt for its circulating coinage in the early 1990s.