NumisMattic2200 Posted May 31, 2008 Report Share Posted May 31, 2008 According to Bloomberg.com, $250 Mexicanos is worth 12.21 GBP! But are these valid, or just from an hyper-inflationary period?? Link to comment Share on other sites More sharing options...
Scottishmoney Posted May 31, 2008 Report Share Posted May 31, 2008 They are the old pre super duper pesos fuertes, so they are hyperinflation pesos. No good anymore. Lots of them ended up in scrap melts. Link to comment Share on other sites More sharing options...
gxseries Posted May 31, 2008 Report Share Posted May 31, 2008 The Mexican peso got revalued in 1993. Here is a link: http://en.wikipedia.org/wiki/Mexican_peso Link to comment Share on other sites More sharing options...
NumisMattic2200 Posted May 31, 2008 Author Report Share Posted May 31, 2008 Hehe.. had to wonder! Link to comment Share on other sites More sharing options...
jtryka Posted June 1, 2008 Report Share Posted June 1, 2008 I have probably 30,000 of those older pesos from spring break 1992, it takes 1000 old pesos to make one new peso, so that makes mine technically worth 30 new pesos, or about $3 US (about 1.50 GBP), but I don't think you can even exchange them any more. I had some friends bring back coins from mexico from a trip in 2003 and ironically, the old centavo coins from the 1970s are circulating again as they brought back several old 50-centavo coins. Link to comment Share on other sites More sharing options...
NumisMattic2200 Posted June 1, 2008 Author Report Share Posted June 1, 2008 Heh.. but what's the copper value? surely that's higher.. Link to comment Share on other sites More sharing options...
Scottishmoney Posted June 1, 2008 Report Share Posted June 1, 2008 Curiously Mexico is the only country in the world with silver coinage, the 20 Peso and 50 Peso coins have silver centers, that actually circulates. At least for the time being, the silver is approaching the melt value point. You have to give it to Mexico to keep trying to keep silver in their coinage, they just cannot seem to keep the peso from sliding in value. Link to comment Share on other sites More sharing options...
bobh Posted June 1, 2008 Report Share Posted June 1, 2008 You have to give it to Mexico to keep trying to keep silver in their coinage, they just cannot seem to keep the peso from sliding in value. Is the Mexican peso still tied to the U.S. dollar? I remember that it was pegged at something like 8, or maybe 12 pesos, to the dollar for a long time. Link to comment Share on other sites More sharing options...
Scottishmoney Posted June 1, 2008 Report Share Posted June 1, 2008 I am not sure, but I think it is pegged in a narrow band, so it can go down with the dollar like the Chinese Yuan. Right now it is about 10:1 within a band. Link to comment Share on other sites More sharing options...
jtryka Posted June 1, 2008 Report Share Posted June 1, 2008 Scottishmoney, I believe the only circulating mexican coins with silver content are the commemorative 100-peso coins which have a silver center, the 20 and 50 peso coins I thought had nickel centers. I don't have examples of either denomination in coins, but the 20-peso note is polymer. Link to comment Share on other sites More sharing options...
Scottishmoney Posted June 2, 2008 Report Share Posted June 2, 2008 No, I checked the $20 and $50's still have silver centers, the $10's did at first but then went CN later. Link to comment Share on other sites More sharing options...
Vfox Posted June 3, 2008 Report Share Posted June 3, 2008 Scottishmoney, I believe the only circulating mexican coins with silver content are the commemorative 100-peso coins which have a silver center, the 20 and 50 peso coins I thought had nickel centers. I don't have examples of either denomination in coins, but the 20-peso note is polymer. I have a few 10 peso's and they all have a CN centers. My 20 peso is silver however, but I have not seen anything other than the one I own. Just on a side note, the 20 and 50 peso notes are both polymer and very pretty little notes. Link to comment Share on other sites More sharing options...
NumisMattic2200 Posted June 3, 2008 Author Report Share Posted June 3, 2008 I find it interesting that the 20 and 50 pesos are the only coins with silver in them that still circulate! "Not a lot of people know that..." Link to comment Share on other sites More sharing options...
jtryka Posted June 3, 2008 Report Share Posted June 3, 2008 Interesting, I wonder how long that will last! My 50-peso note is paper, the only polymers I have are 20-pesos. Link to comment Share on other sites More sharing options...
SMS Posted June 4, 2008 Report Share Posted June 4, 2008 Curiously Mexico is the only country in the world with silver coinage, the 20 Peso and 50 Peso coins have silver centers, that actually circulates. At least for the time being, the silver is approaching the melt value point. The $20 has 1/4oz ASW and the $50 has 1/2oz ASW. With silver at over $16, that puts the $20 at a melt of over $4 and the $50 at a melt of over $8. Since the current exchange is roughly 10:1 to the dollar, those coins are both approaching 2x exchange rate in silver. Not quite as good as even 40% silver U.S. halves, but it's a pretty good start! Link to comment Share on other sites More sharing options...
Vfox Posted June 4, 2008 Report Share Posted June 4, 2008 Interesting, I wonder how long that will last! My 50-peso note is paper, the only polymers I have are 20-pesos. I lucked out because a friend went there last summer and got a polymer 50 peso. Link to comment Share on other sites More sharing options...
ccg Posted June 29, 2008 Report Share Posted June 29, 2008 I had some friends bring back coins from mexico from a trip in 2003 and ironically, the old centavo coins from the 1970s are circulating again as they brought back several old 50-centavo coins. I wonder where they've been all that time... Good example of how old currency can be brought back... I'm sure imperal German coins from pre-WWI could had been spent in post-WWII Germany. (not legally of course...) Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.