Value of pesos?

ledzep87 · May 20, 2006 1:29AM

I was at a coin dealer on Thursday and saw that someone walked in with about 500 Mexican Pesos. The guy did not know what it was worth and asked the dealer, "What will you give me for these?" If I remember correctly, 11 Pesos = 1 American Dollar. Anyways, the dealer gave him $2 for it all.

Those Pesos should have had equaled $44.....right?

Am I missing something?

DorkGirl · May 20, 2006 1:35AM

Exchange rate right now is 52.5 to $1. 500 pesos = $9.5

Not too bad actually. Last time I was there it was 1200 to 1.

tbirde56 · May 20, 2006 4:09AM

There was a monetary devaluation in 1992 (1000 old = 1 new).

ledzep87 · May 20, 2006 4:11AM

Interesting

CIVITAS · May 20, 2006 4:34AM

500 Mexican Pesos is approximately $44.00 US, yes. However, what year was the note? As tbirde mentioned, if it was prior to 1992, it's not exchangeable anyway.

ledzep87 · May 20, 2006 4:51AM

There were alot of coins (over 50). There were a few older ones from the 40s and 50s.....but mostly new stuff-like what is available now.

Value of pesos?

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