Hi, Browsing an exchange rate calculator, they say 100 Mexican pesos equal about $9.60 US. Am I reading this wrong? I've got several 100 peso coins dated 1984 to 1988. The coins are golden color like the Sac dollar and picture a guy with a huge beard (V.Carranza). So if I took this 100 peso coin to Mexico it would be worth $9 in US money? Is this correct?
No, the Mexician peso was devalued in 1998 or so if I am not mistaken reading from somewhere. The new peso = 1000 old peso, which means it's pretty worthless.
I think it was 1992 when Mexican government demonetized all old peso coins. At that time 1000 old pesos were converted to 1 New Peso. So, basically any old 1000 peso coin is worth approximately 10 cents if any exchange counter is ready to accept those earlier coins. Regards, Ballabh Garg
http://en.wikipedia.org/wiki/Nuevo_peso 1992 is correct - my understanding though is you cannot spend any 'old peso's' anywhere - even in Mexico. Otherwise.. woohoo.. off I go .. because I have probably millions of dollars in those coins/currency. In the US most currency exchange locations will not exchange any 'coin' less than 5 (new) pesos.
