I have recently acquired some $1 Mexican Pesos. In the amount I was given I have yet to come across any dated behind 1992. I've searched and searched but can't find anything with clear, precise information about this. Is 1992 the year these were released into circulation? Is Mexico City the ONLY mint in which these are made? Are there any variations I should look for? Any information is appreciated!
They devalued there currency by three 0's around that time. Before that were the old pesos. If I remember correctly they gave people 3 years to turn in the old stuff for the new, after that it was pretty much worthless.
In 1992 in an effort to stabilize the peso after high inflation (very rampant in the 1980's and early 90's), they knocked 3 zeroes off the peso and created the "new peso." (1000 old pesos = 1 new peso.) They put "nuevo peso" on coins and currency produced in 1992 but quit bothering to mention it a little while later (I forget when the cut-off was precisely but I think 1994 maybe). They had a grace period for exchanging old pesos for new pesos, after which any existing old peso coins and currency were declared to no longer be legal tender (don't know the precise cut-off, but I think they gave people about 3 years or so). All modern Mexican coins are minted in Mexico City (other mints have operated in what is now Mexico I think, but Mexico City's mint is the only one still in operation). Not sure where they print their currency, but believe this is done in Mexico City also. The distinctive M with a small O above it is Mexico City's mintmark. The Mexican peso is pretty stable these days, hovering around 10 pesos to the US dollar, give or take.
Hasn't seen that level since 2009, last year it was as high as 14.37 , and todays border report said it was officially 12.60.
Well I was being approximate not precise, and haven't bothered to keep track of it recently lol (was basing my estimate on the last time I was actually in Mexico, in 1998)... still, the peso's a lot more stable than it was in the 80's, have to grant at least that much.
Yes, I will agree to that!! Since it is only 13 miles from me, and many services and provisions such as dentists and RX are much less there.
Hmm, the Mexican coins are all minted in San Luis Potosí as far as I know. The mint's HQ/administration is in Mexico (D.F.) though. Christian
