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The obverse of the Mexican Libertad coins that are 1 troy ounce and larger feature the Coat of Arms of Mexico surrounded by historical Mexican Coats of Arms. Fractional Libertad coins feature the Coat of Arms of Mexico due to their smaller size.
The reverse design of the Libertad coins features a depiction of the statue of Winged Victoria, a symbol of Mexican Independence and monument dedicated to the Mexican Revolution from Spain. The background of reverse shows a landscape of two Mexican volcanos, Popocatepetl and Iztaccihuatl.
The first gold Libertad coins were minted in 1981 in three weight denominations; 1 troy ounce, 1/2 troy ounce and 1/4 troy oz. Mintage of the gold libertad was then put on hold for ten years. In 1991, the gold libertad was minted again and included two additional weight denominations that included 1/10th oz and 1/20th oz coins.
The first silver Libertad coins were minted in 1982 and were only available in the 1 troy ounce denomination. In 1991, fractional Silver Libertad denominations were added that included 1/2 troy oz, 1/4 oz, 1/10 oz and 1/20 oz.
In 1996, two larger sized silver Liberatad coins, the 2 troy ounce and 5 troy ounce weight denominations were added. Twelve years later, in 2008, the Banco de Mexico introduced the 1 kilogram Silver Libertad Coin.
Several limited variations of the Libertad coins have been produced in both Silver and Gold. These variations have included Proof and Reverse Proof Libertads that are highly sought after by collectors and can command significant premiums.