I am (hopefully) getting another gold coin. I can't wait..

GoldCoinLover

I might be able to trade a PCGS MS63 1946 S quarter and a few other coins for a 5 gold peso! Even though these are restrikes, are they still legal tender in the mexico? I am so excited

tbirde56

The current peso (this one isn't) is worth about 11 U.S. cents. I'm sure if you wanted to spend that coin in Mexico they would be glad to take it though.

GoldCoinLover

<< <i>The current peso (this one isn't) is worth about 11 U.S. cents. I'm sure if you wanted to spend that coin in Mexico they would be glad to take it though. >>



its a gold 5 peso. It should be made out of real gold..fineness 900. I don't see why it is only worth 11 cents? I guess mexico really is poor.

spoon

That was a "no" on it being legal tender. Perhaps officially it is (I don't know), but you'd be an idiot to spend it at face value. Of course anyone would be willing to take it from you at face value.

Keep in mind that the one ounce gold coins the US makes are denominated at $50, but if you find someone dumb enough to buy a sandwich with that please introduce me.

GoldCoinLover

<< <i>

That was a "no" on it being legal tender. Perhaps officially it is (I don't know), but you'd be an idiot to spend it at face value. Of course anyone would be willing to take it from you at face value.

Keep in mind that the one ounce gold coins the US makes are denominated at $50, but if you find someone dumb enough to buy a sandwich with that please introduce me. >>



thanks. It must have real gold in it.

SYRACUSIAN

Edited, Jester's link should do fine.

1jester

Read this thread from beginning to end; it'll help you a lot.

gxseries

I beg your pardon there. Name me one country that issues denomination a lot higher than the value gold content in a coin.

The only country that I can think of is Japan that was issued some time ago. Maybe Austria used to do and other European nations but I don't think any other countries dare to do that nowadays. Other than that, almost NO countries ever dares to do this. Most probably covered in the link provided by 1jester.

SYRACUSIAN

No country does that gx. Modern bullion coins have a nominal value in order to be defined as coins, and the only purpose they serve is to cover the need of some people to buy some gold as an investment or even as collectibles with little or no added value. If some of them are considered legal tender, this must have to do with the issuing country's legal technicalities, nobody buys goods with gold coins for the past 50 years.I think it's important for GCL to read and understand the gold standard ,its history ,why it was dropped and its consequences in modern economics.

gxseries

Most definately agreed. No countries could possibly ever do this.

But SYRACUSIAN, if you noticed Satootoko's signature, he does have two 100,000 yen coins. Those are like almost 1grand or maybe around 950USD if you want to be extreme, but the point is, this denomination is represented on just 20 odd grams of gold; not one full ounce!

SYRACUSIAN

Satootoko's sig is with modern gold commems, not exactly bullion. I believe that in some countries, in order for these commems to be issued as "coins",they need to be accepted and traded for their nominal value in cash by their Central banks over a certain period of time. Obviously the vast majority of them is simply sold by and never returned within that time period to their Central Banks . I'm not sure if this is the case for Japan, I guess satootoko will have a more suitable explanation.