Expert: Brad Swain - 3/7/2010

Question
QUESTION: Dear Brad:

I came across some old Mexico currency in some archives I was cleaning out and would like to know if they are worth anything at the bank.  Say, I want to go to a bank and cash them into US dollars, how much are they worth in today's market.  I know that sometimes currency value changes or the bill or coin becomes obsolete.  I want to know if they still hold their value.

I am attaching an image of the bill I am asking about.  I would appreciate your help.

MG

ANSWER: Hi Martha, sorry, I didn't get a picture.
Due to a 1992 currency reform 1000 old Pesos was converted to one New Peso (~10c U.S.).
With more info on each note's Denomination and Date I'll be glad to help further.
Collector value is likely more than any remaining exchange value.
Collector value of a note depends on date, denomination (face value), series letter or signature and condition, including amount of wear, any folds, tears or stains as well as collector demand.
You might also try a library for a copy of the Standard Catalog of World Paper Money for pictures, values and lots more interesting info.
Brad

---------- FOLLOW-UP ----------

QUESTION: Thanks for your reply.  What happens if the bill is old and I am no longer able to exchange the money into cash?  Does this mean that all is lost or is there some kind of recourse?  Pls. advise.

Answer
Hi Martha, they likely have some collector value. People collect old money. Collector value of a note depends on date, denomination (face value), amount of wear, any folds, tears or stains as well as collector demand.
With more info on each note's Denomination and Date I'll be glad to help further.
Paper Money Gallery: http://aes.iupui.edu/rwise/notedir/mappage.html
Brad