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What can I do with old Mexican coins?

by Ken Mitteldorf on July 19, 2012

Ever since we expanded our service to include Mexican coins and notes, we’ve had a flurry of questions. Here are answers to three of the more common questions we’ve received.

I have some $500 and $1000 Mexican coins from the 1980’s. What should I do with them?

After many years of hyper-inflation, in 1993 Mexico revalued its currency and issued new coins and notes denominated in New Pesos. The Mexican government dropped three zeroes off the end so that 1,000 old pesos become one new peso. Old peso coins can still be exchanged for new ones at the Banco de México, but since old pesos are now worth only 1/1000 of their face value in New Pesos, your old 1,000-peso coin is now worth less than a dime! Unless you are planning to visit Mexico with a side trip to the Central Bank, our advice is to toss those old Mexican coins back in the drawer. It does seem disconcerting to ignore money with that many zeroes, but such is life.

As indicated on our rates page , we only exchange Mexican currency dated 1992 and later — only new pesos. Please do not send any old pesos to us —  they will be discarded.

Which Mexican coins will you buy?

We will exchange 10, 20, 50 and 100 peso coins Mexican coins ($10, $20, $50, $100) dated 1992 and later. Click here for pictures of representative coins we will buy. Keep in mind that Mexico has issued many commemorative coins, so we do not have pictures of every coin in every series. In general, most of the newer Mexican coins are bi-metallic: gold-colored on the outer ring and silver-colored in the center. Please keep in mind that we do not buy 10, 20 or 50 centavo coins. Here are some pictures of current Mexican coins we will not buy.

Will you buy the smaller value Mexican coins?

No, we will not buy any coins less than 10 pesos. Even in Mexico, most people do not want to bother with the 10 and 20 centavo coins (in many places all prices are rounded to the nearest 50 centavos). Here in the U.S., it’s just not cost-effective for us to buy Mexican coins with face value less than 10 pesos.

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