50 Pesos : Mexico

Discussion in 'What's it Worth' started by Brokencompass, Sep 18, 2010.

  1. Brokencompass

    Brokencompass Member

    I have a bunch of these coins. I believe these are 50 peso coins and each of this is worth 3 dollars in foreign exchange 50 pesos = 3.15 USD. I have two questions based on this.

    1) In the Krause manual the value of the coin is stated as USD 1. It doesnt make sense to me.

    2) Where can I exchange these mexican coins for USD?

    Thanks

    84mx50.jpg
     
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  3. Derekg

    Derekg Member

    you could change it in a Change house..theres tons where i live cause i live next to the border...not sure where you live..but yeah not sure what to do with that if theres none close by one.
     
  4. desertgem

    desertgem Senior Errer Collecktor Supporter

    Slight miscalculation. On 1 January 1993, the Mexican Bank introduced a new currency, the nuevo peso ("new peso", or MXN), written "N$" followed by the numerical amount. One new peso, or N$1.00, was equal to 1000 of the obsolete MXP pesos. Then later they dropped the word new and it is back to Peso, but it is 1/1000 value of the coin posted. So it would be worth $3.15 /1000 = $0.00315 US each. 3 for a cent or there about in exchange, but evidently worth a dollar or more collector wise.

    Jim
     
  5. Brokencompass

    Brokencompass Member

    lol thanks Jim! I was having very high hopes because I had like 100's of 50 peso coins. Now they are all worth nothing but a couple of dollars :p
     
  6. desertgem

    desertgem Senior Errer Collecktor Supporter

    I was afraid you would be in a car headed to Mexico :) It's only 12 miles south of me. I have a bag of similar that I give to young kids. They think they are terrific. When they made the change, big trucks were bringing the old coinage into the US for scrap metal, but that was halted by Mexico as they wanted to use the scrap for the new coinage. And now it is considered a stable currency.

    Jim
     
  7. wazzappenning

    wazzappenning Member

    i got too exited too

    when i was going to mexico 15 years back and learnt that 10 pesos was worth a dollar i started looking through my coins and bills. i had some $50 and $100 coins and my biggest exitement was my $1000 and $5000 bills.(one of each). it worked out to $700 us. i forget who i checked with but they told me that canada and u.s. are about the only places in the world that you can use very old coins and notes as legal tender. eveywhere else re-issues their currency every once in a while, and you have a certain amount of time to get it to a bank to get it converted to the new currency.
     
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