500 Mexican Peso coin, worth $50 USD??

Hello everyone,

I have a 500 peso coin from the '80s... when I convert it comes up as around $50 USD... this can't be right. How does this work, is this back when their currency wasn't worth anything? So what is it worth today?

Cheers,
Rylan

 

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Not worth a Continental.

 

It is worth nothing. When I went to Mexico in the '80's the exchange rate was 1250 to 1. Your 500 peso was worth about 40 cents. Now they have basically started over and that coin is worthless.

 

In 1992 Mexico revalued their coinage, 1000 Old peso = 1 New Peso. I don't believe the old coinage can still be exchanged. If it could, your 500 peso would be about 5 cents.

 

Thanks for clearing this up, I knew something had to be wrong.

 

From what I've read, it is worth about 5 cents US. I have one too.

 

It can still be used, but devalued. Basically, a souvenir.

 

Someone on E Bay is selling one for $79.95. A 1987 Madero 500 coin. i don't understand.