Mexico cents bound to disappear

11 posts

» Quick access to the last post

Today at my local grocery store I got a "shocking" information. The Mexican "Cámara Nacional de Comercio" (National commerce bureau), issued a notice to all affiliated stores in the Country to no longer use Peso fractions other that 0.50$ on their prices. Because there was a lot of angry buyers that had enough of not getting their exact change at stores that purposely use un-payable fractions such as prices ending bellow 10¢ which is the smallest payable fraction available (5¢ coins where already discontinued 12 years ago).

So that opens the possibility for the -already shrunk- 10 and 20¢ coins to be discontinued as well, and just leave the 50¢ as the smallest fraction.

I was uncertain until I saw the price tags and everything was either a .00 or .50 price. It also makes sense, as there is basically nothing you can buy with only 10 or 20 cents. Obviously the coins will still be useful as you can add them up to the quantity needed but they are most likely bound to be discontinued.
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V
Thats interesting thanks for sharing. When I visit Mexico in a couple months I will have to stock up on some.
Quote: elvis123Thats interesting thanks for sharing. When I visit Mexico in a couple months I will have to stock up on some.
When you visit and go to a store see that when you are paying the change will almost always be something that ends in un-payable cents, something like 17.67$ for example, they will either give you 17.60$ or they will ask you if you want to donate the 67 cents to a charity (which is what almost all stores here do, with the advantage that they don't need to handle small currency and also get tax rebates for donating "your money") it is optional, but since they won't pay you the 7 cents anyway most people simply agrees. Hence a lot of people being angry because stores do that on purpose and the donated money can't be credited to your fiscal account.

The average Mexican donates 10$ per month through this way, you can see how the millions build up then.

Now, with a 50¢-only system the choice would be YES donate my 50 cents, NO give me my 50 cents. Or a total ending in .00$
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V
 Thats kind of sad. I like this coin set alot.

 I have a bad feeling all the small coins are on there way out.
         yours daryl
It is, what it is, or is it.
Quote: ALLRED1950Thats kind of sad. I like this coin set alot.

 I have a bad feeling all the small coins are on there way out.
         yours daryl
That 5 cent coin was discontinued almost 40 years ago  :P  But it kind of suffered the same "mutation" of the current ones. It had 3 types, big, medium and small and then it was removed from minting.
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V
I know but i love all three types. I can remamber have a jar full of them and 20 cent. as a kid in Arizona.
It is, what it is, or is it.
Quote: ALLRED1950I know but i love all three types. I can remamber have a jar full of them and 20 cent. as a kid in Arizona.
I have 3 Nesquick cans full of them  :P  Sadly, all of the small type, I wish they where 1 of each, I already filtered them and got a few out that still had that almost-gold shine, my sister saw them and thought they where gold as I carried them to my safe and she went straight to my mom to tell on me  :~  My mom saw them and she told my sister "If you wanted them you should have asked to search the 2500 one by one to find them. But she never told her they weren't gold.
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V
Do you need an upgrade on the large have two more 1944 in vf  or vg. This the note from mexico i love the most

 I got alot of my mexico coins from my sister
             yours daryl
It is, what it is, or is it.
Quote: elvis123Thats interesting thanks for sharing. When I visit Mexico in a couple months I will have to stock up on some.
 So do you think these will be hoarded now? Has anyone noticed if the Canadian cents are being hoarded since they were discontinued? <:D
If you don't stand for something you'll fall for anything
Quote: crruisercharlie
Quote: elvis123Thats interesting thanks for sharing. When I visit Mexico in a couple months I will have to stock up on some.
 So do you think these will be hoarded now? Has anyone noticed if the Canadian cents are being hoarded since they were discontinued? <:D
There is a huge supply of the 10s and 20s so I don't think hoarding would take place for now, but with the 5 cent coins 12 years ago nobody used them so they just got stuck on desk drawers and bins on most houses to never see the sun ever again, and suddenly they disappeared. I only have a small bag of them and all from the first years and haven't been able to find any more. Once they reach a Bank they are done for sure as they will be sent to Mexico City Mint to be destroyed, so 10 years ago most people took them to banks to exchange them for higher denominations and their demise came upon the poor little lentil-coins.
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V
Quote: ALLRED1950Do you need an upgrade on the large have two more 1944 in vf  or vg. This the note from mexico i love the most

 I got alot of my mexico coins from my sister
             yours daryl
Beautiful Bank note. I don't know why the minting got centralized here in Mexico, it was so much better when up to 12 cities where allowed to mint and print Bank notes. Nowadays all being centralized in Mexico City means:
-We don't get to buy Mint sets straight from Banco de Mexico because people hoards them in the capital knowing that the rest of the country won't get them and so they can re-sell them for 200% the original price with no remorse as they are the only ones that have them.
-Current year commemorative coins won't reach the smaller cities and towns because of the same practice, and when they manage to get here they do so in worn condition.
-Current year mints take up to 2 years to finally appear all around the country.

Before when the States where allowed to mint their coins -right up to 1910- one region would get a high % of their regional minted coins, and so for the rest of the regions in the country, meaning that you could trade for other mints coin for coin. Nowadays that doesn't apply as now we know some cities minted less than others and so the value is a bit off, but you get the idea of how that would work today if the Comms and Currency coins where minted that way.
Numista referee for the "Viceroyalty of the New Spain" (most of it).
History through coins.
Eli V

» Forum policy

Used time zone is UTC+1:00.
Current time is 15:34.