Mexican peso | coins

Coins

19th century

Front and back of an 1866 twenty-peso gold coin, depicting Maximilian I of Mexico

The first coins of the peso currency were 1 centavo pieces minted in 1863. Emperor Maximilian, ruler of the Second Mexican Empire from 1864–1867,[5] minted the first coins with the legend "peso" on them. His portrait was on the obverse, with the legend "Maximiliano Emperador;" the reverse shows the imperial arms and the legends "Imperio Mexicano" and "1 Peso" and the date. They were struck from 1866 to 1867. A limited-edition twenty-peso coin was struck, during 1866 only, comprising 87.5 percent gold and also featuring Maximilian on one side and the coat of arms on the other.[6]

The New Mexican republic continued to strike the 8 reales piece, but also began minting coins denominated in centavos and pesos. In addition to copper 1 centavo coins, silver (.903 fineness) coins of 5, 10, 25 and 50 centavos and 1 peso were introduced between 1867 and 1869. Gold 1, 2½, 5, 10 and twenty-peso coins were introduced in 1870. The obverses featured the Mexican 'eagle' and the legend "Republica Mexicana." The reverses of the larger coins showed a pair of scales; those of the smaller coins, the denomination. One-peso coins were made from 1865 to 1873, when 8 reales coins resumed production. In 1882, cupro-nickel 1, 2 and 5 centavos coins were issued but they were only minted for two years. The 1 peso was reintroduced in 1898, with the Phrygian cap, or liberty cap design being carried over from the 8 reales.

20th century

In 1905 a monetary reform was carried out in which the gold content of the peso was reduced by 49.36% and the silver coins were (with the exception of the 1-peso) reduced to token issues. Bronze 1- and 2-centavos, nickel 5-centavos, silver 10-, 20-, and 50-centavos and gold 5- and 10-pesos were issued.

In 1910, a new peso coin was issued, the famous Caballito, considered one of the most beautiful of Mexican coins. The obverse had the Mexican official coat of arms (an eagle with a snake in its beak, standing on a cactus plant) and the legends "Estados Unidos Mexicanos" and "Un Peso." The reverse showed a woman riding a horse, her hand lifted high in exhortation holding a torch, and the date. These were minted in .903 silver from 1910 to 1914.

Between 1917 and 1919, the gold coinage was expanded to include 2-, 2½-, and 20-peso coins. However, circulation issues of gold ceased in 1921. In 1918, the peso coin was debased, bringing it into line with new silver 10-, 20-, and 50-centavo coins. All were minted in .800 fineness to a standard of 14.5 g to the peso. The liberty cap design, already on the other silver coins, was applied to the peso. Another debasement in 1920 reduced the fineness to .720 with 12 g of silver to the peso. Bronze 10- and 20-centavo coins were introduced in 1919 and 1920, but coins of those denominations were also minted in silver until 1935 and 1943, respectively.

In 1947, a new issue of silver coins was struck, with the 50-centavo and 1-peso in .500 fineness and a new 5-peso coin in .900 fineness. A portrait of José María Morelos appeared on the 1 peso and this was to remain a feature of the 1-peso coin until its demise. The silver content of this series was 5.4 g to the peso. This was reduced to 4 g in 1950, when .300 fineness 25- and 50-centavo, and 1-peso coins were minted alongside .720 fineness 5 pesos. A new portrait of Morelos appeared on the 1 peso, with Cuauhtemoc on the 50-centavo and Miguel Hidalgo on the 5-peso coins. No reference was made to the silver content except on the 5-peso coin. During this period 5 peso, and to a lesser extent, 10-peso coins were also used as vehicles for occasional commemorative strikings.[7]

In 1955, bronze 50-centavos were introduced, along with smaller 5-peso coins and a new 10-peso coin. In 1957, new 1-peso coins were issued in .100 silver. This series contained 1.6 g of silver per peso. A special 1-peso was minted in 1957 to commemorate Benito Juárez and the constitution of 1857. These were the last silver pesos. The 5-peso coin now weighed 18 grams and was still 0.720 silver; the 10-peso coin weighed 28 grams and was in 0.900 silver.

Between 1960 and 1971, new coinage was introduced, consisting of brass 1- and 5-centavos, cupro-nickel 10-, 25-, and 50-centavos, 1-, 5-, and 10-pesos, and silver 25-pesos (only issued 1972). In 1977, silver 100-pesos were issued for circulation. In 1980, smaller 5-peso coins were introduced alongside 20-pesos and (from 1982) 50-pesos in cupro-nickel. Between 1978 and 1982, the sizes of the coins for 20 centavos and above were reduced. Base metal 100-, 200-, 500-, 1000-, and 5000-peso coins were introduced between 1984 and 1988.

Nuevo peso

As noted above, the nuevo peso (new peso) was the result of hyperinflation in Mexico. In 1993, President Carlos Salinas de Gortari stripped three zeros from the peso, creating a parity of $1 New Peso for $1000 of the old ones.[4]

The transition was done both by having the people trade in their old notes, and by removing the old notes from circulation at the banks, over a period of three years from January 1, 1993 to January 1, 1996. At that time, the word "nuevo" was removed from all new currency being printed and the "nuevo" notes were retired from circulation, thus returning the currency and the notes to be denominated just "peso" again.

Confusion was avoided by making the nuevo peso currency almost identical to the old "peso". Both of them circulated at the same time, while all currency that only said "peso" was removed from circulation. The Bank of Mexico then issued new currency with new graphics, also under the "nuevo peso". These were followed in due course by the current, almost identical, "peso" currency without the word nuevo.

In 1993, coins of the new currency (dated 1992) were issued in denominations of 5, 10, 20 and 50 centavos, 1, 2, 5, 10, 20 and 50 nuevos pesos. The 5 and 10 centavos were minted in stainless steel and the 20 and 50 centavos in aluminium bronze. The nuevo peso denominations were bimetallic, with the 1, 2 and 5 nuevos pesos having aluminium bronze centers and stainless steel rings, and the 10, 20 and 50 nuevos pesos having .925 silver centers and aluminium bronze rings.

In 1996, the word Nuevo was removed from the coins. New 10 pesos were introduced with base metal replacing the silver center. The 20, 50, and 100-peso coins are the only currently circulating coinage in the world to contain any silver.

In 2003, the Banco de Mexico began the gradual launch of a new series of bimetallic $100 coins. These number 32 – one for each of the nation's 31 states, plus the Federal District. While the obverse of these coins bears the traditional coat of arms of Mexico, their reverses show the individual coats of arms of the component states. The first states to be celebrated in this fashion were Zacatecas, Yucatán, Veracruz, and Tlaxcala. In circulation they are extraordinarily rare, but their novelty value offsets the unease most users feel at having such a large amount of money in a single coin. Although the Bank has tried to encourage users to collect full sets of these coins, issuing special display folders for the purpose, the high cost involved has worked against them. Bullion versions of these coins are also available, with the outer ring made of gold, instead of aluminium bronze.

The coins commonly encountered in circulation have face values of 50¢, $1, $2, $5, and $10. The 5¢, 10¢ and 20¢ coins are uncommon due to their small value. Small commodities are priced in multiples of 10¢, but stores may choose to round the total prices to 50¢. There is also a trend for supermarkets to ask customers to round up the total to the nearest 50¢ or 1 peso to automatically donate the difference to charities. The $20, $50 and $100 coins are rarely seen in circulation due to the wide use of the lighter banknotes of the same denominations as well as their metal value.

1992 Series [2] [3]
Image Value Technical parameters Description Minting history
Obverse Reverse Diameter Weight Composition Edge Obverse Reverse Year Quantity
15.5 mm 1.58 g Stainless steel
16% ~ 18% chromium
0.75% nickel, maximum
0.12% carbon, maximum
1% silicon, maximum
1% manganese, maximum
0.03% sulfur, maximum
0.04% phosphorus, maximum
remaining of iron
Plain State title, coat of arms Stylized image of the solar rays of the “Ring of the Quincunxes of the Sun Stone.” 1992 136'800,000
10¢ 17 mm 2.08 g Stylized image of the “Ring of the Sacrifice of the Sun Stone.” 1992 ###,###
10¢ 14 mm 1.755 g Slotted State title, coat of arms Stylized image of the “Ring of the Sacrifice of the Sun Stone.” 2009 ###,###
20¢ 19.5 mm (shortest)
Dodecagon
3.04 g Aluminium bronze
92% copper
6% aluminium
2% nickel
Plain State title, coat of arms Stylized image of the “Thirteenth Acatl Day of the Sun Stone.” 1992 ###,###
20¢ 15.3 mm 2.258 g Stainless steel
16% ~ 18% chromium
0.75% nickel, maximum
0.12% carbon, maximum
1% silicon, maximum
1% manganese, maximum
0.03% sulfur, maximum
0.04% phosphorus, maximum
remaining of iron
Segmented reeding State title, coat of arms Stylized image of the “Thirteenth Acatl Day of the Sun Stone.” 2009 ###,###
50¢ 22 mm
Scalloped shape
4.39 g Aluminium bronze
92% copper
6% aluminium
2% nickel
Plain State title, coat of arms Stylized image of the “Ring of Acceptance of the Sun Stone.” 1992 ###,###
50¢ 17 mm 3.103 g Stainless steel
16% ~ 18% chromium
0.75% nickel, maximum
0.12% carbon, maximum
1% silicon, maximum
1% manganese, maximum
0.03% sulfur, maximum
0.04% phosphorus, maximum
remaining of iron
Reeded edge State title, coat of arms Stylized image of the “Ring of Acceptance of the Sun Stone.” 2009 ###,###
N$1
or $1
21 mm 3.95 g
R: 2.14 g
C: 1.81 g
Ring: Stainless steel (as 10¢)
Center: Aluminium bronze (as 50¢)
Plain State title, coat of arms Stylized image of the “Ring of Splendor of the Sun Stone.” N$: 1992
$: 1996
###,###
N$2
or $2
23 mm 5.19 g
R: 2.81 g
C: 2.38 g
Stylized image of the “Ring of the Days of the Sun Stone.” ###,###
N$5
or $5
25.5 mm 7.07 g
R: 3.82 g
C: 3.25 g
Stylized image of the “Ring of the Serpents of the Sun Stone.” ###,###
$10 28 mm 10.329 g
R: 5.579 g
C: 4.75 g
Ring: Aluminium bronze (as 50¢)
Center:
65% copper
25% zinc
10% nickel
Reeded edge State title, coat of arms Circle of the Sun Stone representing Tonatiuh with the fire mask. 1997 ###-###
Commemorative Coins (selected) [4]
Image Value Technical parameters Description Minting history
Obverse Reverse Diameter Weight Composition Edge Obverse Reverse Year Quantity
$5 25.5 mm 7.07 g
R: 3.82 g
C: 3.25 g
Ring: Stainless steel (as 10¢)
Center: Aluminium bronze (as 50¢)
Reeded edge State title, coat of arms Mexican Bicentennial Series 2008-2010 ###-###
N$10
or $10
28 mm 11.183 g
R: 5.579 g
C: 5.604 g
Ring: Aluminium bronze (as 50¢)
Center:
92.5% silver (1/6oz)
7.5% copper
Reeded edge State title, coat of arms Circle of the Sun Stone representing Tonatiuh with the fire mask. N$: 1992
$: 1996
###-###
$10 28 mm 10.329 g
R: 5.579 g
C: 4.75 g
Ring: Aluminium bronze (as 50¢)
Center:
65% copper
25% zinc
10% nickel
Inscription State title, coat of arms Value, Tonatiuh from the Aztec sun stone at the center, "AÑO 2000" or "AÑO 2001" instead of "DIEZ PESOS" as commemorative legend 2000 ###-###
N$20 32 mm 16.996 g
R: 8.59 g
C: 8.406 g
Ring: Aluminium bronze (as 50¢)
Center:
92.5% silver (1/4oz)
7.5% copper
Segmented reeding State title, coat of arms Miguel Hidalgo 1993 ###-###
$20 32 mm 15.945 g
R: 8.59 g
C: 7.355 g
Ring: Aluminium bronze (as 50¢)
Center: Cupronickel
75% copper
25% nickel
Milled State title, coat of arms Xiuhtecuhtli Year 2000, Aztec "New Fire" ceremony 2000 ###-###
Octavio Paz ###-###
N$50 39 mm 33.967 g
R: 17.155 g
C: 16.812 g
Ring: Aluminium bronze (as 50¢)
Center:
92.5% silver (1/2oz)
7.5% copper
Reeded edge State title, coat of arms Value, the Hero Cadets of the Battle of Chapultepec 1993 ###-###
$100 39 mm 33.967 g
R: 17.155 g
C: 16.812 g
Ring: Aluminium bronze (as 50¢)
Center:
92.5% silver (1/2oz)
7.5% copper
Intermittent milling State title, coat of arms Coats of arms of the 31 States of Mexico and the Federal District
(In reverse alphabetical order)
2003 ###-###
Culture of the states (e.g. architecture, wildlife, flora, art, science, dances)
(In normal alphabetical order)
2005 ###-###
These images are to scale at 2.5 pixels per millimeter. For table standards, see the coin specification table.
Other Languages
Afrikaans: Meksikaanse peso
العربية: بيزو مكسيكي
azərbaycanca: Meksika pesosu
Bân-lâm-gú: Be̍k-se-ko peso
беларуская: Мексіканскі песа
català: Peso mexicà
čeština: Mexické peso
español: Peso mexicano
Esperanto: Meksika peso
euskara: Peso mexikar
فارسی: پزو مکزیک
français: Peso mexicain
한국어: 멕시코 페소
hrvatski: Meksički pezo
বিষ্ণুপ্রিয়া মণিপুরী: মেক্সিকান পেসো
Bahasa Indonesia: Peso Meksiko
interlingua: Peso mexican
italiano: Peso messicano
lietuvių: Meksikos pesas
Bahasa Melayu: Peso Mexico
монгол: Мексик песо
Nāhuatl: Mexihco peso
Nederlands: Mexicaanse peso
português: Peso mexicano
română: Peso mexican
Simple English: Mexican peso
српски / srpski: Мексички пезос
srpskohrvatski / српскохрватски: Meksički pezo
Türkçe: Meksika pesosu
Tiếng Việt: Peso México