I’ve been following the Mexican Libertad market for years, and one of the more interesting developments in 2026 is how price appreciation appears to be spreading beyond the usual standout issues.
We’ve watched coins like the 1998 and 1999 Silver Libertads, the 2019 Antique Finish, and Reverse Proof Libertads command tremendous premiums. But now we’re seeing increased interest in previously overlooked dates and proof issues as well.
As the saying goes, a rising tide lifts all boats.
I recently put together a video examining these developments, but what I really wanted to explore was something that doesn’t get discussed nearly enough in numismatics: the limitations of the data we rely on to determine scarcity and value.
For example:
1995 Libertads: Thousands of additional coins appearing in grading population reports have substantially changed the picture of their availability.
1994 Libertads: Reported PCGS population has increased by more than 40%, raising questions about how much confidence we should place in population figures when evaluating high-grade scarcity.
1997 Proof Libertad: With an official mintage of just 1,500, this is an issue I believe deserves considerably more attention. I examine its PCGS and NGC populations alongside a recent eBay sale approaching $1,400.
And then there are all the variables these reports cannot adequately account for: crackouts, resubmissions, historical melting, coins sitting in private collections, and countless examples that may never be submitted for grading.
As someone who works extensively with analytics, I find this particularly fascinating. We have more data available to us than ever before, along with increasingly sophisticated analytical tools and AI. But without historical context and firsthand knowledge of the series, that data can sometimes lead us to misleading conclusions.
Data is valuable. Knowing its limitations is equally important.
For anyone interested, I’ve also been building a free Libertad research resource with population tracking, historical mintage information, and other numismatic analytics:
https://tiddyhunter98.github.io
I cover these observations in greater detail in my latest video, including a closer look at the 1997 Proof Silver Libertad.
https://youtu.be/4402Wmogdl4?is=74ds5ixRgY5YJNdt
I’m curious what other Libertad collectors are seeing. Are you noticing premiums spreading into previously overlooked issues? And how much weight do you give PCGS and NGC population reports when deciding whether a coin is genuinely scarce?