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Often referred to as Centenarios and first minted in 1921, the 50 Peso gold coin honors the Centennial of the successful end of Mexico's War of Independence. "El Angel" is pictured on the coin opposite the national coat of arms. The Mexican coat of arms depicts the Mexican golden eagle devouring a snake while perched atop a cactus. Interestingly, on the 50, 10, and 5 Peso gold coins, the eagle is featured facing forward. This version of the Mexican coat of arms with the eagle facing forward was developed in the French Style in the late 1800's.

In 1931 coinage was discontinued but it was started again 1943 due to increasing demand for gold coins at that time. The Mexican 50 Peso is often compared to America's most beautiful coin, the $20 Saint-Gaudens.

The obverse features the Winged Victory standing in front of the Mexican volcanoes Iztacc'huatl and Popocat'ptl. The face value ('50 PESOS'), the gold content, and the date of issue opposite the date of Mexican Independence, 1821, are also featured on the obverse.

Coins dated 1943 only have a variation of this design. The gold content ('37.5 Gr. ORO PURO') appears on both sides of Victory.

The reverse of the coin features the Mexican golden eagle devouring a snake surrounded by the words 'ESTADOS UNIDOS MEXICANOS,' which translate to United States.