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nickscash
New Member
USA
4 Posts |
 Posted - 03/26/2008 : 02:51:32
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Hello RealCent,
Long-time reader, short-time hoarder, first-time poster.
So, the Mexican Peso Coins in the $20 MXP and $50 MXP denominations contain silver. These are the current circulating coins.
The Center Ring of both coins is .925 silver and .075 Copper. The $20 center ring weighs 8.406g and the $50 center ring weighs 16.812g.
$20MXP - 7.76g silver or 1/4 ounces troy
$50MXP - 15.55g silver or 1/2 ounces troy
The current exchange rate is approx. 1MXP = 0.1USD
Therefore $20MXP = $2USD, and $50MXP = $5USD
In conclusion, $8USD worth of the $20MXP coins would yield 1 tr.ounce of silver. And $10USD worth of the $50MXP coin would yield 1 tr.ounce silver.
Why aren't we hoarding these coins, they're nearly half the price...??? If I'm wrong, tell me, if not...
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Edited by - nickscash on 03/26/2008 03:00:21 |
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NotABigDeal
1000+ Penny Miser Member
USA
1848 Posts |
Posted - 03/26/2008 : 06:28:07
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quote:
Originally posted by nickscash
Why aren't we hoarding these coins, they're nearly half the price...??? If I'm wrong, tell me, if not...
First of all, welcome. Second, not many here can go to the local bank/s and pick up Peso's....Circulating U.S. currency is easier to hoard. Probably have to pay a premium on the Mexican coins because of the silver content. Unless you have some for sale....I have my $8, in zincs of course....
Deal
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I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
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Cerulean
Penny Hoarding Member
USA
652 Posts |
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Delawhere Jack
Penny Hoarding Member
USA
517 Posts |
Posted - 03/26/2008 : 18:09:49
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Nickcash,
You had me all excited!!! But it looks like the current 20 peso coins have a cupronickle center, since 2000, rather than .925 silver. The 100's are still silver centers.
[http://en.wikipedia.org/wiki/Mexican_peso]
I'd never had the remotest interest in ever visiting Mexico, until I read your post. The question then is, have the silvers' all been hoarded already...?
This warrants more research.
Thanks Nick, and welcome to the forum. |
"Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion...when you see that in order to produce, you need to obtain permission from men who produce nothing...when you see your laws don't protect you against them, but protect them against you...when you see corruption being rewarded and honesty becoming a self-sacrifice...you may know that your society is doomed."
Ayn Rand, from Atlas Shrugged
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Cody8404
Penny Collector Member
USA
340 Posts |
Posted - 03/27/2008 : 17:56:09
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| It sounds like a great idea. Where do we sign up? |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Mexican Peso Coin Question, Thoughts, Ramblings
