Can I use old pesos (say 1970 and above) in Cancun?

Question

I have a whole stash of them given to me from my uncle. Some say un cinco...is this one peso? This might seem like a dumb question...but i was so surprised how MUCH the peso changes shape and its design that I really didn't know? I assume we use it the same as US money...If I have a shiny 1960's penny i can use it still. I have some that say $1000, $500, and cinco peso...so any help is great!

Answer 1

Nope, they are only worth collectors price.  I heard that this "Mexican" guy bought bunches and gangs of old coins and then popped holes in the center and sold them as washers.  I heard he made a lot of money (Profit) from this idea...

Answer 2

All Mexican money older than '93 is worthless...whole system was devalued and new money issued the...old stuff has no value.  See site below for explanation and photos of coins that ARE usable.

Answer 3

I just copy and paste this part of a wikipedia article about the Mexican Peso.

Throughout most of the 20th century, the Mexican peso remained one of the most stable currencies in Latin America, since the economy did not experience periods of hyperinflation common to other countries in the region. However, after the Oil Crisis of the late 1970s, Mexico defaulted on its external debt in 1982 and experienced several years of inflation and devaluation until a government economic strategy called the "Stability and Economic Growth Pact" (Pacto de estabilidad y crecimiento económico, PECE) was adopted under President Carlos Salinas. On 1 January 1993, the Bank of Mexico introduced a new currency, the nuevo peso ("new peso", or MXN), written "N$" followed by the numerical amount. One new peso, or N$1.00, was equal to 1000 of the obsolete MXP pesos.

On January 1, 1996, the modifier nuevo was dropped from the name and new coins and banknotes – identical in every respect to the 1993 issue, with the exception of the now absent word "nuevo" – were put into circulation. The ISO 4217 code, however, remained unchanged as MXN.

Thanks to the stability of the Mexican economy and the growth in foreign investment, the Mexican peso is now among the 15 most traded currency units in the world, and is the most traded currency in Latin America. It has been fairly stable for the last few years; since the late 1990s the peso has traded at about $9 to $10 to the U.S. dollar. This makes it relatively easy to convert from dollars to pesos and back; the 50¢ coin (tostón) is worth about the same as a U.S. nickel, and a 200-peso note about USD $20.

Answer 4

You will not be able to use them at any store, restaurant etc.. You may try the banks, but I doubt that you will find any willing to help you unless you had a large amount like a million pesos or so.

The value, and look of the peso have changed many, many times since the seventies.  I was born in Mexico in the seventies, and I remember as a child, that the appearance and value of the bills and coins changed constantly.  We could use them one day and the next day they were obsolete, it was like trying to pay with counterfeit money and the stores did not want to deal with the "old money".  I have gone back to Mexico many times, and it has changed a few more times.

-i Buena Suerte!

-Good Luck!

Answer 5

I don't think you can. the peso was changed in the 80's so that your $1000 is now $1 and your cinco's aren't worth anything. But you might check with a Mexican bank to see f they'll change it for you. But don't expect thousands of pesos.

Answer 6

yea mexicans will take any kind of money

i should kno

Answer 7

Sorry dear, that money you have will just have to be a part of your coin collection, those coins are no good anymore. I'm from California and I live very close to the border so trust me, I know exactly what I'm talking about.

Answer 8

u can still use them. $1000 = $100 USD.