Unfortunately, the $500 Mexican coin was minted in huge numbers and is usually traded for under $2 US. Mexican notes and coins have always been printed in large quantities with high face values and have never really attracted the interests of large numbers of collectors.
While the collectors market in notes, or bills, remains active and certain notes/bills are highly collectible, there is very little demand for recent coins. To give an idea of the number of coins available, it's believed that in 1992, there were 180million $500 coins minted. Since coins have a much longer lifespan than notes, it is highly unlikely, that this coin will ever become collectible since it lacks all of the essential features, especially supply, for collectors to focus on and force up prices.
The Mexican currency has always been fighting a losing battle against it's richer neighbor from the north, with the US$ preferred as a more stable currency amongst many Mexicans. With the US/Mexican border constantly being breached, it is hardly surprising, that the local currency is overlooked in favor of the powerful currency across the border that is accepted worldwide.
The Mexican peso is regularly revalued in an attempt to maintain credibility on the exchange market. In 1992, 1000 pesos were revalued to 1 peso, but very quickly the notes were again under serious pressure on the currency markets. This trend is likely to continue with the large numbers of notes and coins in circulation, preventing the currency from becoming collectible despite regular revaluing.
As part of a personal collection, the coin has appeal, but commercially it has never been highly sought after and as such is highly unlikely to grow in value in years to come.
- A problem of demand
While the collectors market in notes, or bills, remains active and certain notes/bills are highly collectible, there is very little demand for recent coins. To give an idea of the number of coins available, it's believed that in 1992, there were 180million $500 coins minted. Since coins have a much longer lifespan than notes, it is highly unlikely, that this coin will ever become collectible since it lacks all of the essential features, especially supply, for collectors to focus on and force up prices.
- Problems faced by the Mexican dollar
The Mexican currency has always been fighting a losing battle against it's richer neighbor from the north, with the US$ preferred as a more stable currency amongst many Mexicans. With the US/Mexican border constantly being breached, it is hardly surprising, that the local currency is overlooked in favor of the powerful currency across the border that is accepted worldwide.
The Mexican peso is regularly revalued in an attempt to maintain credibility on the exchange market. In 1992, 1000 pesos were revalued to 1 peso, but very quickly the notes were again under serious pressure on the currency markets. This trend is likely to continue with the large numbers of notes and coins in circulation, preventing the currency from becoming collectible despite regular revaluing.
As part of a personal collection, the coin has appeal, but commercially it has never been highly sought after and as such is highly unlikely to grow in value in years to come.
