Mexican peso
Currency of Mexico From Wikipedia, the free encyclopedia
The Mexican peso (symbol: $; currency code: MXN; also abbreviated Mex$ to distinguish it from other peso-denominated currencies; referred to as the peso, Mexican peso, or colloquially varo) is the official currency of Mexico. The peso was first introduced in 1863, replacing the old Spanish colonial real. The Mexican peso is subdivided into 100 centavos, represented by "¢". Mexican banknotes are issued by the Bank of Mexico in various denominations and feature vibrant colors and imagery representing Mexican culture and history.[3] Modern peso and dollar currencies have a common origin in the 16th–19th century Spanish dollar, most continuing to use its sign, "$".[4]
| Peso Mexicano (Spanish) | |
|---|---|
| ISO 4217 | |
| Code | MXN (numeric: 484) |
| Subunit | 0.01 |
| Unit | |
| Symbol | $ or Mex$[1] |
| Denominations | |
| Subunit | |
| 1⁄100 | centavo |
| Symbol | |
| centavo | ¢ |
| Banknotes | |
| Freq. used | $20, $50, $100, $200, $500, $1000 |
| Rarely used | $10 |
| Coins | |
| Freq. used | $1, $2, $5, $10, $20 |
| Rarely used | $0.05, $0.10, $0.20, $0.50, $50, $100 |
| Demographics | |
| User(s) |  Mexico |
| Issuance | |
| Central bank | Bank of Mexico |
| Website | www |
| Printer | Bank of Mexico |
| Website | www |
| Mint | Casa de Moneda de México |
| Website | www |
| Valuation | |
| Inflation | 5.61% (2024) |
| Source | Banco de Mexico |
Mexican peso crisis in 1994 was an unpegging and devaluation of the peso and happened the same year NAFTA was ratified.[2]
The current ISO 4217 code for the peso is MXN; the "N" refers to the "new peso". Prior to the 1993 revaluation, the code MXP was used. The Mexican peso is the 16th most traded currency in the world, the third most traded currency from the Americas (after the United States dollar and Canadian dollar), and the most traded currency from Latin America.[5] As of 12 September 2024[update], the peso's exchange rate was $21.60 per euro, $19.51 per U.S. dollar, and $14.40 per Canadian dollar.[6]
Etymology
The name was first used in reference to pesos oro ('gold weights') or pesos plata ('silver weights'). The Spanish word peso means “weight”. (Compare the British pound sterling.) Other countries that use the term pesos for the currency include: Argentina, Chile, Colombia, Cuba, Dominican Republic, the Philippines, and Uruguay.[7]
Precursor
The currency system in use in Spanish America from the 16th to 19th centuries consisted of silver reales, weight 3.433 grams and fineness 67⁄72 = 93.1%, as well as gold escudos, weight 3.383 g and fineness 11⁄12 = 91.7%. By the 19th century the silver real weighed 3.383 g, fineness 65⁄72 = 90.3%, while the gold escudo's fineness was reduced to 21 karats or 21⁄24, or 87.5% fine.
15 or 16 silver reales were worth a gold escudo, and eight-real coins of 24.44 g fine silver were widely called pesos in Spanish America and dollars in Britain and its American colonies. These pesos or dollars were minted from the rich silver mine outputs of modern-day Mexico and Bolivia and exported in large quantities to Europe and Asia. These pesos served as a global silver standard reserve currency until the start of the 20th century, and became the model for the various pesos of Spanish America as well as (among others) the United States dollar, Chinese yuan and the Japanese yen.[8] Mexican silver pesos of original cap-and-ray design were legal tender in the United States until 1857 and in China until 1935.
Origin
The first Mexican mint to produce pesos was established in 1535.[9]
While the United States divided their dollar into 100 cents early on from 1793, post-independence Mexico retained the peso of 8 reales until 1863 when the Second Mexican Empire under Emperor Maximillan commenced the minting of pesos divided into 100 centavos. The restored Mexican republic under Benito Juárez and Porfirio Díaz continued the minting of centavo coins in base metal or silver, as well as gold coins in pesos, but it had to revert the silver 1-peso coin to the old eight reales "cap-and-ray design" from 1873 to 1897 after East Asian merchants rejected or discounted the newly designed peso coins.
The post-independence silver peso contained 27.07 grams of 90.3% fine silver (24.44 g fine) while the gold peso or half escudo contained 1.6915 grams of 87.5% fine gold (1.48 g fine). After most of Europe switched to the gold standard in the 1870s the gold peso substantially rose in value against the silver peso, until it became 2 silver pesos to a gold peso or a gold peso dollar by 1900. In 1905 the peso was solely defined as 0.75 g fine gold.
From 1918 onward the weight and fineness of all the silver coins declined, until 1979, when the last silver 100-peso coins were minted. The U.S. dollar was worth 2.00 silver pesos from 1905 to 1929, rising afterward until it stabilized at 12.50 pesos from 1954 to 1976.
Reformation
Throughout most of the 20th century, the Mexican peso remained one of the more stable currencies in Latin America, since the economy did not experience periods of hyperinflation common to other countries in the region.
Devaluations in 1976 and 1982
The U.S. dollar leapt from 12.50 to 19.40 pesos in 1976. After the oil crisis of the late 1970s, Mexico defaulted on its external debt in 1982, causing severe capital flight and several years of inflation and devaluation. The US dollar again leapt from 23 to 150 pesos in 1982,[10] causing any company with loans in USD and contracts in MXP to have their financial position weakened by the devaluation, the result becoming high unemployment and pressure on remaining employees to pick up the increased workloads and putting strain on economic hardships.[11] Government attempts to fix the economy with an inward-looking industrialization strategy were only sustainable with severe economic imbalances that needed large inward capital flows that could not be maintained, and an abrupt process of stabilization and adjustment followed that saw a recession in 1983,[12] stabilizing only in the early 1990s at above 3,000 MXP/USD when a government economic strategy called the "Stability and Economic Growth Pact" (Pacto de estabilidad y crecimiento económico, PECE) was adopted under President Carlos Salinas.
New peso, 1993
On January 1, 1993, the Bank of Mexico introduced a new currency, the nuevo peso ("new peso", or MXN), written "N$" followed by the numerical amount.[13] One new peso, or N$1.00, was equal to 1,000 of the obsolete MXP pesos.[13]
New peso notes and coins
Series A and B banknotes
MXP $20000 (Series A, 1985)
MXN $20 (Series B, 1993)
The transition was done with minimal confusion by issuing the Series B "nuevo peso" banknotes in N$10, $20, $50, and $100 denominations with designs nearly identical to the corresponding banknote in the preceding Series A, which were labelled in old pesos (MXP $10,000, $20,000, $50,000, and $100,000, respectively); for Series B, the equivalent nuevo peso face value was 1⁄1000 of the old peso face value for Series A. For example, the Series A old peso MXP$20,000 and the Series B nuevo peso MXN$20 banknotes share the same design, aside from the updated face value. Old and new pesos circulated simultaneously between 1993 and 1995, but old peso Series A banknotes were gradually retired at this time, and newly designed Series C "nuevo peso" banknotes commenced in 1994. From January 1, 1996, the "nuevo peso" was simply renamed to "peso", and new Series D banknotes were issued identical to Series C except for the word "nuevo" dropped. The ISO 4217 code remained unchanged as MXN. Series A and AA banknotes were demonetized and no longer legal tender as of January 1, 1996.[14] Although they remain legal tender, Series B, C, D, and D1 banknotes are in the process of being withdrawn from circulation; in addition, the MXN$1000 Series F banknote is being withdrawn.[15] The most commonly circulated banknotes in Mexico are MXN$20 and above in Series F and G.
Similarly, Series B coins in nuevo peso denominations were circulated starting from 1993[15] and Series A and AA coins were demonetized starting from November 15, 1995.[14] Unlike the notes, Series B coins differed in size and design from the Series A coins. Series C coins (which dropped the "N$" prefix on the MXN$1, N$5, N$10, N$20, and N$50 coins) were circulated starting in 1996 following the withdrawal of Series A and AA coins. Series B and C coins in uncommon denominations (10-centavo and MXN$20 and greater) are gradually being withdrawn from circulation. Although they remain legal tender, they are set aside when they arrive at commercial banks.[15] The most commonly circulated coins in Mexico are MXN$10 and below in Series C and D.
Economic effects
The government's operational balances had been predicted to remain stable as the country was operating in a surplus between 1990 and 1994. This crisis was seen as the fault of the Mexican government in its signing of NAFTA at the beginning of 1994. The volatility of MXN increased after the ratification of NAFTA, when the annualized standard deviations seem to be highest post-1994, especially in terms of USD, compared to the United States, which experienced the lowest annualized standard deviation during that same period.[16] Still, several contemporary economists of the time noted the unexpected shocks to the economy during 1994, which exacerbated the situation, starting with the assassination of presidential candidate Luis Donaldo Colosio, causing a ripple effect on the exchange rate and interest rates that resulted in increased capital leaving the country. The result was the devaluation of MXN because of a domestic recession and an avalanche of investor withdrawals due to concern about the government's inability to remain liquid in its international debt repayments.[17] The international outlook, particularly in Wall Street, on the MXN peso crisis was affected by the lack of information on Mexico's financial reserves from the Banco de Mexico, which only released information on Mexico's reserves three times a year, and the speed of reserve depletion to stabilize the MXN finally resulted in a 15% devaluation by 20 December 1994 and a lack of clear announcements on how the Mexican government was going to handle the crisis. In one day, Banco de Mexico lost USD 4 billion in holdings.[18] The 1994 crisis was more devastating as it was released on a new peso currency. The adoption of MXN in 1993 was meant to balance the economy, and MXP 1000 was the same as MXN 1 upon its 1993 introduction. The MXN crisis let investors in 1995 see a failure of Mexican authorities to act with a lack of preparation to soften the devaluation with a more substantial commitment to maintaining the stability of the exchange rates and questioning further investment in the economy.[19] As the GNP fell by 9.2% in 1995, the panic of the MXN devaluation was significant to Mexican citizens, as the peso depreciated against the USD by 82.9%, while the interest rates rose from 10.5 to 42.7%.[20] The unemployment rates of married male employees increased significantly in urban areas of Mexico, resulting in married women and teenagers from the same households finding employment to prevent the financial collapse of domestic quality of life. Married women with an unemployed husband experienced an employment rate of 33.84% and an unemployment rate of 1.62% compared with unmarried women during this period.[21] The unexpected increase in Mexican immigration, both legal and illegal, in 1995 resulted from the MXN devaluation, pushing Mexican citizens to seek better employment opportunities in the United States. Migration in 1995 was 40% higher than the average level of the rest of the 1990s, with 200,000 to 300,000 more Mexicans immigrating over the border, increasing a labour shock in Mexico that also affected parts of the southwestern United States.[22] There was a significant decline in Mexican household expenditure during this time, where durable and semidurable commodities like televisions, glassware, clothing, and other goods that could be postponed fell between 1996 and 1998, while household food expenditure increased, with lower income households seeing an increase of 3.5% and middle-class households seeing a 2.4% increase, due to the resulting inflation of prices.[23] MXN finally started to see a stabilization between 1996 and 1998, once the Mexican government had enacted banking rescue packages to prevent further collapse, resulting in state control over a large majority of the Mexican financial sector, which led to a renewed growth in the economy that saw more stability by the turn of the millennium.[24]
Subsequent exchange rates
- Following the revaluation in 1993, the official exchange rate was MXN$3 against the U.S. dollar.
- After the Mexican peso crisis of December 1994, the peso sharply depreciated from MXN$3.4 to MXN$7.2 in 1995.
- It then traded between MXN$8 and MXN$11 from 1998 to 2008, briefly depreciated to MXN$15.56 in March 2009 due to the 2008 global financial crisis, but then settled between MXN$12 and MXN$14 from 2009 to 2014.
- The peso then depreciated from MXN$14.78 in 2014 to MXN$17 in 2015.
- From 2016 to 2019, it traded between MXN$18 and MXN$20.
- Amidst the COVID-19 pandemic, the peso depreciated to its all-time low of MXN$25 per dollar.
- From 2020 to 2024, it appreciated by over 30%, becoming one of the best performing currencies in the world. In April 2024, the peso reached a near nine-year high of MXN$16.26 per dollar. This was mostly attributed to the growth of "near-shoring" strategies, growing foreign investment, as well as the strict monetary policy adopted by the Bank of Mexico in attempts to curb inflation following the COVID pandemic and the Russian Invasion of Ukraine.[25][26]
- Since the general elections in 2024, the peso has depreciated to over MXN$19. This is also due to political and economic uncertainty in the United States, as well as increased geopolitical tensions around the world.
Real
Coins issued from the 16th to 19th centuries under the Spanish American system of reales and escudos included
- in gold: 1⁄2, 1, 2, 4 and 8 escudos, with 1 escudo ≈ 2 pesos or 16 reales.
- in silver: 1⁄2, 1, 2, 4 and 8 reales, with 1 peso = 8 reales.
Additionally, Mexico issued copper coins denominated in tlacos or 1⁄8 real (1⁄64 peso). Post-independence silver coins were of the cap and ray design showing a radiant Phrygian cap marked "Libertad" (liberty), which became familiar to East Asian traders. This design ended in 1872 with the minting of "centavo" coins except for the silver 8-reales which was revived as a trade coin from 1873 to 1897.
Peso, 19th century
.JPG)
The Second Mexican Empire of 1863-1867 commenced the minting of coins denominated in pesos and centavos, minting the copper 1-centavo, silver 5, 10 and 50 centavos, the silver 1-peso and the gold 20-peso. The last two coins featured the portrait of Emperor Maximilian on the obverse, and the imperial arms of the short-lived empire on the reverse.[27][28]
The Restored Mexican republic of 1867 continued the minting of coins in pesos and centavos. The copper 1-centavo coin was continued; silver (.9027 fine) coins of 5, 10, 20, 25 and 50 centavos and 1 peso commenced in 1867; and gold coins of 1, 2+1⁄2, 5, 10 and 20 pesos commenced in 1870. The obverses featured the Mexican 'eagle' and the legend "Republica Mexicana". The reverses of the larger coins showed a pair of scales; those of the smaller coins, the denomination.
In 1882, cupro-nickel 1, 2 and 5 centavos coins were issued but they were only minted for two years. Despite the discontinuation of the newly designed silver peso in 1873, in 1898 the denomination on the "cap-and-ray" coin was successfully revised from "8 reales" to "1 peso" without being rejected in China; this continued to be minted as trade coinage until 1909. From 1900 the market value of the gold coins have approximately doubled versus their face values.
Peso, 20th century
.JPG)
In 1905 a monetary reform was carried out in which the gold content of the peso was reduced by 49.36% and the silver coins were (with the exception of the 1-peso) reduced to token issues. Bronze 1 and 2 centavos, nickel 5 centavos, silver 10, 20, and 50 centavos and gold 5 and 10 pesos were issued.
In 1910, a new peso coin was issued, the famous Caballito, considered one of the most beautiful of Mexican coins. The obverse had the Mexican official coat of arms (an eagle with a snake in its beak, standing on a cactus plant) and the legends "Estados Unidos Mexicanos" and "Un Peso". The reverse showed a woman riding a horse, her hand lifted high in exhortation holding a torch, and the date. These were minted in .903 fineness silver from 1910 to 1914.
In 1947, a new issue of silver coins was struck, with the 50 centavo and 1 peso in .500 fineness and a new 5-peso coin in .900 fineness. A portrait of José María Morelos appeared on the 1 peso, with Cuauhtémoc appearing on the 5-peso; and this was to remain a feature of the 1 peso coin until its demise. The silver content of this series was 5.4 g to the peso. This was reduced to 4 g in 1950, when .300 fineness 25 and 50 centavo, and 1 peso coins were minted alongside .720 fineness 5 pesos. A new portrait of Morelos appeared on the 1 peso, with Cuauhtemoc now on the 50 centavo and Miguel Hidalgo on the 5 peso coins. No reference was made to the silver content except on the 5 peso coin. During this period 5 peso, and to a lesser extent, 10 peso coins were also used as vehicles for occasional commemorative strikings.[29]
Between 1960 and 1971, new coinage was introduced, consisting of brass 1 and 5 centavos, cupro-nickel 10, 25, and 50 centavos, 1, 5, and 10 pesos, and silver 25 pesos (only issued 1968 and 1972). In 1977, silver 100 pesos were issued for circulation. In 1980, smaller 5 peso coins were introduced alongside 20 pesos and (from 1982) 50-pesos in cupro-nickel. Between 1978 and 1982, the sizes of the coins for 20 centavos and above were reduced. Base metal 100, 200, 500, 1,000, and 5,000 peso coins were introduced between 1984 and 1988.
Series AA coins
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| MXP 1¢ |  |
13.0 mm | 1.50 g | Brass | Plain | State title, coat of arms | Three ears of wheat | 1970 | |||
| MXP 5¢ |  |
18.0 mm | 2.75 g | Plain | Josefa Ortiz de Domínguez, La Corregidora | 1970 | |||||
| MXP 10¢ |  |
15.0 mm | 1.5 g | Cupronickel | Reeded | State title, coat of arms | Ear of corn | 1974 | |||
| MXP 20¢ | .png) |
28.5 mm | 10.0 g | Copper (95%) | Plain | State title, coat of arms | Phrygian cap, Pyramid of the Sun | 1943 | |||
| MXP 20¢ | .png) |
20.0 mm | 3.0 g | Cupronickel | Milled | State title, coat of arms | Don Francisco I. Madero | 1974 | |||
| MXP 20¢ | .png) |
20.0 mm | 2.97 g | Brass | Milled | State title, coat of arms | Olmec colossal head | 1983 | |||
| MXP 50¢ | .png) |
25.0 mm | 6.5 g | Cupronickel | Milled | State title, coat of arms | Cuauhtémoc in ceremonial helmet | 1970 | |||
.png) |
22.0 mm | 4.1 g | Stainless steel | Plain | Profile of Kʼinich Janaabʼ Pakal | 1983 | |||||
| MXP $1 |  |
29.0 mm | 9.0 g | Cupronickel | Milled | General Don José María Morelos | 1970 | ||||
| MXP $5 | .png) |
33.0 mm | 14.0 g | Plain with inscription "INDEPENDENCIA Y LIBERTAD" | General Vicente Guerrero | 1971 | |||||
.png) |
27.0 mm | 10.2 g | Feathered serpent sculpture from the Temple of the Feathered Serpent | 1980 | |||||||
| MXP $10 |  |
30.5 mm, seven-sided | 10.0 g | Plain | Miguel Hidalgo y Costilla | 1974 | |||||
| MXP $20 |  |
32.0 mm | 15.1 g | Plain with inscription "INDEPENDENCIA Y LIBERTAD" | Cultura Maya, sculpture of Mesoamerican ballgame player | 1980 | |||||
| MXP $50 |  |
35.0 mm | 19.8 g | Milled | Coyolxauhqui Stone | 1982 | |||||
| MXP $200 | .png) |
29.5 mm | 17.0 g | Plain with inscription "INDEPENDENCIA Y LIBERTAD" | 175th anniversary of independence, Angel of Independence and portraits of Ignacio Allende, Miguel Hidalgo y Costilla, José María Morelos y Pavón, and Vicente Guerrero | 1985 | |||||
.png) |
Plain with inscription "TIERRA Y LIBERTAD" | 75th anniversary of Revolution, Monumento a la Revolución and portraits of Don Venustiano Carranza, Emiliano Zapata, Francisco I. Madero, and Francisco Villa | 1985 | ||||||||
.png) |
Milled | Copa Mundial | 1986 | ||||||||
| These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. | |||||||||||
Series A coins
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| MXP $1 |  |
24.5 mm | 5.9 g | Stainless steel | Interrupted milled | State title, coat of arms | General Don José María Morelos | 1984 | |||
| MXP $5 |  |
17.0 mm | 3.1 g | Brass | Milled | State title, coat of arms | Value & date of minting | 1985 | |||
| MXP $10 |  |
19.0 mm | 3.8 g | Stainless steel | Interrupted milled | State title, coat of arms | Miguel Hidalgo | 1985 | |||
| MXP $20 |  |
21.0 mm | 6.0 g | Brass | Milled | State title, coat of arms | Guadalupe Victoria | 1985 | |||
| MXP $50 |  |
23.5 mm | 8.6 g | Cupronickel | Milled | State title, coat of arms | Benito Juárez | 1984 | |||
| 7.3 g | Stainless steel | ||||||||||
| MXP $100 |  |
26.5 mm | 11.8 g | Brass-aluminum | Milled | State title, coat of arms | Venustiano Carranza | 1984 | |||
| MXP $500 |  |
28.5 mm | 12.7 g | Cupronickel | Milled | State title, coat of arms | Don Francisco I. Madero | 1986 | |||
| MXP $1000 |  |
31.0 mm | 14.9 g | Brass-aluminum | Milled | State title, coat of arms | Juana de Asbaje | 1988 | |||
| MXP $5000 |  |
33.5 mm | 17.3 g | Cupronickel | Milled | State title, coat of arms | 50th anniversary of the nationalization of petroleum production | 1988 | |||
| These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. | |||||||||||
New peso coins
As noted above, the nuevo peso ("new peso") was the result of elevated rates of inflation in Mexico during the 1980s. In 1993, President Carlos Salinas de Gortari stripped three zeros from the peso, creating a parity of 1 new peso for 1,000 of the old ones.[13] The prior coins, issued in the 1970s and 1980s, were designated A-type or AA-type and are no longer valid.[31][30]
Coins of the new currency (dated 1992) were introduced in 1993 as the B-type or Series B[32] in the following denominations:
- 5 and 10 centavos in stainless steel;
- 20 and 50 centavos in aluminum bronze (switched to stainless steel in 2009);
- Bimetallic 1, 2 and 5 nuevos pesos, with aluminum bronze centers and stainless steel rings; and
- Bimetallic 10, 20 and 50 nuevos pesos, with sterling silver (0.925 fine) centers and aluminum bronze rings.
In 1996, the word nuevo was removed from the coins, which are designated as the C-type or Series C.[33] In 1997 regular-issue 10-peso coins were minted with base metal replacing the silver center. In 2000 commemorative 20-peso coins also began to be minted without silver. Though the 50- and 100-peso coins are the only currently circulating coinage in the world to contain any silver, they rarely circulate because their silver content of 1/2 troy ounce have exceeded 100 pesos in value since around 2010.
In 2003 the Banco de México began the gradual launch of a new series of bimetallic $100 coins. These number 32 – one for each of the nation's 31 states, plus Mexico City. While the obverse of these coins bears the traditional coat of arms of Mexico, their reverses show the individual coats of arms of the component states. The first states to be celebrated in this fashion were Zacatecas, Yucatán, Veracruz, and Tlaxcala. In circulation, they are extraordinarily rare, but their novelty value offsets the unease most users feel at having such a large amount of money in a single coin. Although the Bank has tried to encourage users to collect full sets of these coins, issuing special display folders for this purpose, the high cost involved has worked against them. Bullion versions of these coins are also available, with the outer ring made of gold instead of aluminum bronze.
The first C1-type coins were issued in 2020; in general, these are commemorative $20 coins.[33] As of 2020[update], the coins most commonly encountered in circulation have face values of 50¢, $1, $2, $5 and $10. Commemorative $20 coins are less commonly encountered than $20 notes. The 5¢ coin has been withdrawn from circulation in 2002, while the 10¢ and 20¢ coins have gradually dropped out of circulation due to their low value. Some commodities are priced in multiples of 10¢, but stores may choose to round the total prices to 50¢. There is also a trend for supermarkets to ask customers to round up the total to the nearest 50¢ or 1 peso to automatically donate the difference to charities.
Series B coins
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| 5¢[36] |  |
 |
15.5 mm | 1.58 g | Stainless steel 16% ~ 18% chromium 0.75% nickel, maximum 0.12% carbon, maximum 1% silicon, maximum 1% manganese, maximum 0.03% sulfur, maximum 0.04% phosphorus, maximum remaining of iron |
Plain | State title, coat of arms | Stylized image of the solar rays of the “Ring of the Quincunxes of the Sun Stone.” | 1992 | 136,800,000 | |
| 10¢[32] |  |
 |
17 mm | 2.08 g | Stylized image of the “Ring of the Sacrifice of the Sun Stone.” | 1992 | |||||
| 20¢[36] |  |
 |
19.5 mm (shortest) Dodecagon |
3.04 g | Aluminium bronze 92% copper 6% aluminium 2% nickel |
Plain | State title, coat of arms | Stylized image of the “Thirteenth Acatl Day of the Sun Stone.” | 1992 | ||
| 50¢[36] |  |
 |
22 mm Dodecagon, notched |
4.39 g | Aluminium bronze 92% copper 6% aluminium 2% nickel |
Plain | State title, coat of arms | Stylized image of the “Ring of Acceptance of the Sun Stone.” | 1992 | ||
| N$1[37] |  |
 |
21 mm | 3.95 g R: 2.14 g C: 1.81 g |
Ring: Stainless steel (as 10¢) Center: Aluminium bronze (as 50¢) |
Plain | State title, coat of arms | Stylized image of the “Ring of Splendor of the Sun Stone.” | 1992 | ||
| N$2[37] |  |
 |
23 mm | 5.19 g R: 2.81 g C: 2.38 g |
Stylized image of the “Ring of the Days of the Sun Stone.” | ||||||
| N$5[37] |  |
 |
25.5 mm | 7.07 g R: 3.82 g C: 3.25 g |
Stylized image of the “Ring of the Serpents of the Sun Stone.” | ||||||
| N$10[37] |  |
 |
28 mm | 11.183 g R: 5.579 g C: 5.604 g |
Ring: Aluminium bronze (as 50¢) Center: 92.5% silver (1⁄6 oz) 7.5% copper |
Reeded edge | State title, coat of arms | Circle of the Sun Stone representing Tonatiuh with the fire mask. | 1992 | ||
| $20[37] |  |
 |
32 mm | 16.996 g R: 8.59 g C: 8.406 g |
Ring: Aluminium bronze (as 50¢) Center: 92.5% silver (1⁄4 oz) 7.5% copper |
Segmented reeding | State title, coat of arms | Miguel Hidalgo | 1993 | ||
| These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. | |||||||||||
Series C coins
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| 5¢[38] | |
 |
15.5 mm | 1.58 g | Stainless steel | Plain | State title, coat of arms | Stylized image of the solar rays of the “Ring of the Quincunxes of the Sun Stone.” | 1996 | ||
| 10¢[39] | |
 |
17 mm | 2.08 g | Stylized image of the “Ring of the Sacrifice of the Sun Stone.” | 1996 | |||||
| 20¢[40] |  |
 |
19.5 mm (shortest) Dodecagon |
3.04 g | Aluminium bronze 92% copper 6% aluminium 2% nickel |
Plain | State title, coat of arms | Stylized image of the “Thirteenth Acatl Day of the Sun Stone.” | 1996 | ||
| 50¢[41] |  |
 |
22 mm Dodecagon, notched |
4.39 g | Aluminium bronze 92% copper 6% aluminium 2% nickel |
Plain | State title, coat of arms | Stylized image of the “Ring of Acceptance of the Sun Stone.” | 1996 | ||
| $1[42] | |
 |
21 mm | 3.95 g R: 2.14 g C: 1.81 g |
Ring: Stainless steel (as 10¢) Center: Aluminium bronze (as 50¢) |
Plain | State title, coat of arms | Stylized image of the “Ring of Splendor of the Sun Stone.” | 1996 | ||
| $2[43] | |
 |
23 mm | 5.19 g R: 2.81 g C: 2.38 g |
Stylized image of the “Ring of the Days of the Sun Stone.” | ||||||
| $5[44] | |
 |
25.5 mm | 7.07 g R: 3.82 g C: 3.25 g |
Stylized image of the “Ring of the Serpents of the Sun Stone.” | ||||||
| $10[45] | |
 |
28 mm | 10.329 g R: 5.579 g C: 4.75 g |
Ring: Aluminium bronze (as 50¢) Center: 65% copper 25% zinc 10% nickel |
Reeded edge | State title, coat of arms | Circle of the Sun Stone representing Tonatiuh with the fire mask. | 1997 | ||
| $20[46] | |
.png) |
32 mm | 15.945 g R: 8.59 g C: 7.355 g |
Ring: Aluminium bronze (as 50¢) Center: Cupronickel 75% copper 25% nickel |
Segmented reeding | State title, coat of arms | Octavio Paz | 2000 | ||
| These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. | |||||||||||
Series D coins
Series D coins, introduced in 2009, replace the prior 10-, 20-, and 50-centavo coins from Series B and C; compared to the prior coinage, the Series D counterparts are made from the punched out cores of the rings used to make the 1-, 2- and 5-peso coins, hence their smaller size and stainless steel composition. This measure is designed to save money and resources in production.[47] The edge of each denomination is different to aid in distinguishing them by touch.[48]
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| 10¢[49] | |
 |
14 mm | 1.755 g | Stainless steel 16% ~ 18% chromium 0.75% nickel, maximum 0.12% carbon, maximum 1% silicon, maximum 1% manganese, maximum 0.03% sulfur, maximum 0.04% phosphorus, maximum remaining of iron |
Slotted | State title, coat of arms | Stylized image of the “Ring of the Sacrifice of the Sun Stone.” | 2009 | ||
| 20¢[50] |  |
 |
15.3 mm | 2.258 g | Segmented reeding | State title, coat of arms | Stylized image of the “Thirteenth Acatl Day of the Sun Stone.” | 2009 | |||
| 50¢[51] |  |
 |
17 mm | 3.103 g | Reeded edge | State title, coat of arms | Stylized image of the “Ring of Acceptance of the Sun Stone.” | 2009 | |||
| These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table. | |||||||||||
Special and commemorative coins
| Value | Images | Technical parameters | Description | Minting history | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Diameter | Weight | Composition | Edge | Obverse | Reverse | Year | Quantity | ||
| $5 (C)[53] | |
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25.5 mm | 7.07 g R: 3.82 g C: 3.25 g |
Ring: Stainless steel (as 10¢) Center: Aluminium bronze (as 50¢) |
Reeded edge | State title, coat of arms | 2010 Bicentennial (Independence) & Centennial (Revolution) series | 2008-2010 | ||
| $10 (C)[54] | |
.png) |
28 mm | 10.329 g R: 5.579 g C: 4.75 g |
Ring: Aluminium bronze (as 50¢) Center: 65% copper 25% zinc 10% nickel |
Inscription | State title, coat of arms | Value, Tonatiuh from the Aztec sun stone at the center, "AÑO 2000" or "AÑO 2001" instead of "DIEZ PESOS" as commemorative legend | 2000 | ||
| $20 (C)[39][55] | |
.png) |
32 mm | 15.945 g R: 8.59 g C: 7.355 g |
Ring: Aluminium bronze (as 50¢) Center: Cupronickel 75% copper 25% nickel |
Milled | State title, coat of arms | Xiuhtecuhtli Year 2000, Aztec "New Fire" ceremony | 2000 | ||
| $20 (C1)[56] |  |
.png) |
30 mm Dodecagon | 12.67 g R: 7.16 g C: 5.51 g |
Ring: Aluminium bronze (as 50¢) Center: Cupronickel 65% copper 10% nickel 25% zinc |
700th anniversary of the lunar foundation of the city of Mexico-Tenochtitlan; Eagle from the Teocalli of the Sacred War and moon | 2021 | ||||