1912 S1P Type 2, Caballito, KM-453 (KM-453) MS65

The 1912 Un Peso Caballito was issued after Coinage Reform of 1905 with the ESTADOS UNIDOS MEXICANOS motto on the obverse.  Horse Pesos were produced from 1910-1914. The 1912 Caballito, a Type 2 die set, was struck in Mexico City and designated as a Business (MS) strike. Caballitos were struck on 39mm planchette made of 0.9027 silver, 0.0973 copper. It had a mintage of 322,000. The 1912 Caballitos are struck with type 2 dies. 1912 Caballitos are some of the most lustrous "Horse Pesos" available. The cartwheel  in higher grades can be truly dazzling. Considered a semi-key date because of the low mintage, they consistently bring higher prices than more available dates. With the Casa Moneda originally being authorized to strike 1,000,000 in 1912, the 322,000 minted fell well short of the goal. As a result, dies already prepared but unused were over-struck with the numeral 3 for use the following year. This accounts for the wide variety of 1913/2 over-dates.

Obverse: The Obverse features the Mexican coat of arms, depicting the Aztec legend of a Mexican Eagle grasping a snake in its beak and right claw while standing on a Prickly Pear Cactus on a rocky outcrop on Tenochtitlan in Lake Texcoco. Estados Unidos Mexicanos appears above, Oak and Laurel wreath below. Un Peso in bold letters in field on either side of Cactus. Lenticular pattern around face of outer edge.

Reverse: The Reverse of the Caballito is the money side as we say in numismatics. It depicts a young woman rider, symbolically representing Liberty, side sitting on an unshod Mexican bucking horse that carries no saddle. Both the horse and rider face to the left. The female rider holds a torch raised high in her left hand as she looks to the rear while urging the horse forward. The flames of the torch flow horizontally to the right. Her right hand holds a branch from an Encino Oak. Liberty is wrapped in loose flowing cloth representing the fabric of society. The Horse has no saddle, no bridle or reins. Behind the horse and rider is a radiant rising sun with its crown breaking above the earth sending 14 rays of light into the sky. Around the outer face is an alternating "lenticular" pattern interspersed with "snaps". The date on the coin sits in the space below the textured ground the horse stands upon, with a raised dot on either side.

Edge Lettering: The Edge has sunken letters reading INDEPENDENCIA Y LIBERTAD. Caballitos with a reeded edge are counterfeit.