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1 Peso Silver Coins from Mexico: 0.1000 Silver ?!

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Kingz
Valued Member
Netherlands
459 Posts
 Posted 02/22/2011  1:20 pm Show Profile Bookmark this topic Add Kingz to your friends list Get a Link to this Message

Someone offered these coins on another coinforum, so I bought them since I liked them in general, and found them somewhat intriguing when I found out the composition...

The weight is 16 grams each, but the only have 0.1000 Silver in it which is 1.6 gram in total...

So first my question is, what is the other part 0.9000 made of
I see that they are not worth that much as coins in itself in the catalogue, and I figure there is no sense in smelting them for the silver... so how much would you pay for the bunch? I don't think I overpayed too much, although the seller and I didn't really know how much they would be worth I like em though, and that is what count's right




New Member
Mexico
46 Posts
 Posted 02/22/2011  5:06 pm  Show Profile Bookmark this reply Add Guadalupe Victoria to your friends list Get a Link to this Reply
The composition is 10% silver, 70% copper, 10% Nickel, 10% Zinc. The silver content is so low that the coin is silver-plated.

In Mexico they are mainly smelted for silver. Nowadays, on a 28-30 dlls ounce of silver you can get between 80 cents to 1 dollar for each.

They have numismatic value when uncirculated, like the 1962 you show, maybe 2-3 dollars in Mexico, in Europe don't know.

I have seen in the CBG site that a Mexican modern 5 pesos coin (around half a dollar) reach prices of 1-3 euros. So, how could you determine a fair market value? Well, maybe by the price you paid.
Valued Member
India
265 Posts
 Posted 02/22/2011  6:09 pm  Show Profile Bookmark this reply Add palaniappan to your friends list Get a Link to this Reply
please dont melt your coins for the silver content. Preserve history and heritage rather than destroy it.

warm wishes.
New Member
United States
8 Posts
 Posted 02/22/2011  9:40 pm  Show Profile Bookmark this reply Add Saturn V to your friends list Get a Link to this Reply
I agree, do not melt unless the coin is severely damaged (cull). Mexican Pesos are cool, who would not want one. There are other good metals in them, kind of like a metal burrito, lol. (124) Not Allowed - Auto-Removed has been saying that he is working on a Mexico page for some time now.
Rest in Peace
United States
9104 Posts
 Posted 02/23/2011  06:04 am  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply

Quote:
please dont melt your coins for the silver content. Preserve history and heritage rather than destroy it.


Got a better idea. I'll sell you stuff at spot, and YOU can preserve history, while I run a business.
Pillar Of The Community
United States
3160 Posts
 Posted 02/23/2011  10:46 am  Show Profile Check swamperbob's eBay Listings Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Kingz If you like them - that is really all that counts. You are not a coin dealer.

There are two different mind sets today. Making money and the Love of the coins themselves. I fall primarily into the latter category given that I collect counterfeit and altered coins most people consider to be worthless. But that is a different story.

I have been collecting since the mid 1950s so I have seen the transition from "Numismatist" to "Speculative Investor" happen. I remember when Uncirculated had only two grades UNC and BU. There was no Sheldon scale and no STUPIDLY high prices for rarities created by the rating scale. I never cared for Unc coins anyway - I always liked a nice VF or EF it had circulated and the toning made the details stand out - EYE APPEAL was important not technical grade. Coins that look like they were made yesterday could have been made yesterday but a beautiful original patina seen on a 200 year old silver coin that has circulated lightly is impossible to duplicate.

Yesterday, I went to Burger King and paid with Dollar coins ( Eisenhower dollars). The little girl at the counter didn't know they were money and had to check with the manager before she accepted them. I think they will disappear now. GOOD. Maybe they will go home and get a new collector interested. So were they worthless?

People need to collect coins for the joy of collecting and LEARNING about history not always just to make a buck.

Before anyone has a hissy fit - I have also spent years working for and as a dealer so I do understand the market place. Dealers do have a place, but in my heart (not my head) I do echo the sentiment of palaniappan who wants to save history. These coins will never be made again and should be preserved by people that love them.

Rest in Peace
United States
9104 Posts
 Posted 02/23/2011  6:36 pm  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
I have the same problem with the hysterical preservation people who want to tell property owners how to maintain their buildings.

Same simple solution, buy it and do whatever you want, using YOUR money.
Valued Member
United States
363 Posts
 Posted 02/23/2011  9:28 pm  Show Profile Bookmark this reply Add RealPeso to your friends list Get a Link to this Reply
These coins represent the end of a era. These were the last of the Mexican Silver coinage issued for circulation, somewhat akin to the JFK 40%ers unless you count the mid 90's $10 peso issue which had a .925 silver center.

Pillar Of The Community
Coin Community SupporterSupporter!
United States
1368 Posts
 Posted 02/23/2011  11:03 pm  Show Profile Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
When I went to high school in 1970 in Mexico, these Morelos pesos and the 1968 25 peso olympic coins were still circulating. 8 cents (US) for the Morelos, $2 (US) for the Olympic coins. And you could buy gold coins in the banks for gold value plus a small premium, I bought a 20 peso gold coin for $20.50 (US) and gave it to my girlfriend when I came back to California. Wish I had bought a few for myself.
"Suppose you were an idiot, and suppose you were a member of Congress. But I repeat myself."
-Mark Twain
Rest in Peace
United States
9104 Posts
 Posted 02/24/2011  10:22 pm  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
that 20 peso had a hair over .48 ounce gold content, or 16.88 gold value back then. In those days, the biggies were sovereigns, 100 (K)corona, Mexican 2-50 pesos, roosters and similar size coins and of course US $20. Krands captured the market when they became legal to import, due to easy calculations.

I can remember when $1000 would get you 100-111 sovereigns, just run through the coin counter set on nickel size. I knew a guy who had a change maker that would hold up to double eagle coins.
New Member
32 Posts
 Posted 09/06/2011  02:23 am  Show Profile Bookmark this reply Add joe316 to your friends list Get a Link to this Reply
You should sell them on eBay if you want to make your money back on those. People are so silver crazy right now thinking silver will hit that magical $50 mark that 10 ounces of those coins is selling for $50 to $100 right now.
Rest in Peace
United States
9104 Posts
 Posted 09/06/2011  04:06 am  Show Profile Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
10 oz would contain 1 oz of silver, new. Getting $100/oz would be cool.

What do you think of today's PM prices?
Pillar Of The Community
United States
2120 Posts
 Posted 09/06/2011  1:01 pm  Show Profile Bookmark this reply Add Namachieli to your friends list Get a Link to this Reply
I bought a nice UNC example recently for about $2
Pillar Of The Community
Canada
762 Posts
 Posted 10/17/2012  03:50 am  Show Profile Check Anjohl's eBay Listings Bookmark this reply Add Anjohl to your friends list Get a Link to this Reply
I got one of those for a buck or two, they are nice looking coins and interesting historical footnotes. Regarding the issue of melting, I think lower grade examples of coins are fine for melting ethically, but I have been known to save coins *I* consider important from my dealers smelting baggies! (1964 JFK's, 1967 Canadian Silver, etc).

There is enough of these coins out there that the relatively small numbers melted will only increase the prices of the remaining ones, which is a win-win for everyone.

Pillar Of The Community
Hong Kong
705 Posts
 Posted 10/20/2012  09:49 am  Show Profile Bookmark this reply Add wonghinghi to your friends list Get a Link to this Reply
Peso is a new denomination derived from "piece of eight", that is, the Pillars and Portraits silver coins after the South American colonies of Spain having gained their independence early in the 19th Century. Maximilian I of Mexican Empire (1864-67) was the person who allowed the issue of this new money in Mexico. Now there are eight countries using peso as their money.

Spanish "piece of eight" is the ancestor of US money system and peso was derived from "piece of eight" also, may I say your US dollar is the cousin of peso?
Pillar Of The Community
Australia
8603 Posts
 Posted 10/20/2012  10:12 am  Show Profile Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
The copper nickel zinc core of a 100 fine silver peso shows up wery obviiously when the coin is worn.

Even so, with only 100 fine silver, the silver value is still around a buck fifty.
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