One can identify different types of Mexican coins by looking on the back of the coin to determine which coin type it is. The back of the coin typically names the value of the coin. Additionally, the size of the coin serves as an indication of the value of the coin.Continue Reading
Like United States currency, the Mexican peso is traded by decimal values. Coins have values such as 0.05 peso, 0.10 peso, 0.20 peso and 0.50 peso. A coin valued at one-hundredth of a peso is a centavo, similar to a U.S. penny. Unlike U.S. coins, there are also coins for full peso amounts. There are 1-peso, 2-peso, 5-peso, 10-peso and 20-peso coins. The 10-peso and 20-peso coins are the only ones that don't have currency values written on the back. Mexico also uses paper currency of various values, but these currencies are not highly traded.
Historic Mexican currency may be more difficult to identify. Over the past two centuries, many different coin values have existed. These include 2.50-peso coins, 1-centavo coins, 25-centavo coins and 2-centavo coins. These coins are made of different materials, including silver, gold, bronze and highly valuable .903 silver. Different materials were used during various time periods, so investigating the time periods in which certain materials were used often makes it possible to determine a coin's age.Learn more about Coins & Currency
Coin-sorting machines, or coin sorters, sort mixed coins into their respective denominations through a mechanical or manual process. For instance, they can separate pennies, nickels, dimes and quarters.Full Answer >
The three most valuable foreign coins, according to ValuableWorldCoins.com, are the rare Edward III 6 shilling coin, sold for $6.8 million in 2006; the Islamic Umayyad dinar, sold for $6 million in 2011; and the Canadian Queen Elizabeth II coin, sold for $4 million in 2010. The value of a collectible coin depends on factors such as demand, scarcity and condition, which determine its sales price at any given moment.Full Answer >
Since the U.S. Mint dates all coins it produces, collectors consider a Buffalo Indian Head nickel with the date rubbed off as a low-grade coin likely worth about 50 cents. The intrinsic value of the metal in the coins is around 5 cents, as of 2014.Full Answer >
There are giant coin banks designed to handle giant coins. Some are novelty banks such as large coca cola bottles. Others resemble home decor pieces made of cast iron, wood or ceramic.Full Answer >