Expert: Brad Swain - 5/29/2007

Question
I have a $500 peso that I have had for the last 20years, My son took it to his international fair where he did his project on Mexico, some lady seen the dollar and said that it could be worth some money considering the age of it.  I don't know much about foreign currency, maybe you could direct me to the right people if there is some value in it.

Answer
Hi Ginger, in 1992 Mexico had a currency reform that converted 1000 Pesos into 1 New Peso. The current Peso is worth about .11 U.S. so if this is a pre-1992 note (I assume it is paper?) it is only worth about 6 cents at best. Collector value may be more, depending on condition. If it is a post-1992 note then it may be exchanged at a bank for a fee. You might also try a library for a copies of the Standard Catalog of World Coins or the Standard Catalog of World Paper Money for more info, pics and pricing.
Brad