A Guide to Denominations Mexican Pesos for Everyday Use

If you're planning a trip to Mexico or want to send money to a loved one living there, understanding the different denominations of Mexican pesos is essential.

The most common denominations of Mexican pesos are the 20, 50, 100, 200, and 500 peso bills, and the 10, 20, and 50 centavo coins.

You can easily spot a 20 peso bill by its distinctive blue color and the image of Guadalupe Marín, a Mexican artist, on the front.

It's worth noting that the 500 peso bill is the largest denomination in circulation, but it's not as widely accepted as the smaller bills.

Curious to learn more? Check out: Mexican 50 Pesos Gold Coin Value

The Mexican peso has a rich history that dates back to the 16th century. Both the peso and the US dollar originated from the Spanish dollar used during that time.

The Spanish dollar was composed of silver reales and gold escudos, with 15 or 16 reales equaling one escudo. This system was used for trade across Europe and Asia.

In Spanish America, 8 reales were called pesos, while in the Colonies, they were called dollars. Mexican silver pesos were even used as legal tender in the US until 1857 and in China until 1935.

The peso becomes the primary unit of measurement in Mexico in around 1863, replacing the real. The first peso coin, divided into 100 centavos, was minted in 1866.

The Mexican peso is the eighth most traded currency in the world and the third most traded currency in the Americas.

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The Mexican peso symbol is $, the same as the US dollar, due to their shared history. The ISO code for the peso is MXN.

One peso is divided into 100 centavos, designated with the symbol ¢. The exchange rate of the dollar to peso has mostly hovered around 1:20 since 2018, with a brief exception in the middle of 2020 when the ratio reached almost 1:25.

Here are the current Mexican coins and their values:

The Mexican peso symbol is $, the same as the US dollar, due to their shared history. The ISO code for the peso is MXN.

One peso is divided into 100 centavos, designated with the symbol ¢. To convert pesos in your head, you can think of it like US currency, where 100 cents make up a dollar, and 100 centavos make up a peso.

The exchange rate of the dollar to peso has mostly hovered around 1:20 since 2018, with some fluctuations. For example, in April 2020, the dollar to peso ratio reached almost 1:25, but the peso has since stabilized around the 1:20 mark.

Here's a quick reference to help you understand the different denominations of Mexican coins:

These values are using a conversion rate of $1 USD = $20 MXN to illustrate the rough value of pesos to dollars.

If you're trying to send money to Mexico, Wise is a great option, with the lowest fees around, whether you need to transfer $10 or $10,000 USD.

Their rates are generally better than PayPal, making them a go-to option for sending money across the border.

Wise allows you to transfer money directly from your US bank account to a Mexican account, even if you're living abroad.

The limit for Mexican accounts receiving money using this method is $1,976,693.5 MXN, which is roughly $94,900 USD.

Keep in mind that this limit may be a consideration if you're moving money to purchase real estate in Mexico.

For more insights, see: Gold Coins Mexico

The first banknotes issued by the Bank of Mexico were printed in 1925 and were printed by the American Bank Note Company at the direction of the Bank of Mexico.

Historical banknotes in good condition and silver peso coins can be quite valuable as collector's items, and can be worth more than their regular monetary value.

Related reading: Mexico Currency Bills

The Bank of Mexico has a list of the present-day values of old banknotes that you can find online, and you can exchange old notes for modern banknotes at the present-day value, even if they're not valuable as collectibles.

Mexican banknotes portray the image of important people from the country's history, including famous luminaries who lived before, during, and after the Spanish conquest.

The 1,000 Pesos Bill is a rare bill that's not very common, and most small stores won't have change for it.

All denominations of Mexican currency vary in color, texture, and size, in an effort to deter counterfeiting and to assist the blind, and the four largest bills are made from a different material than the smaller bills.

Worth a look: Old Mexican Pesos Value

The first banknotes issued by the Bank of Mexico were printed in 1925. They were printed by the American Bank Note Company, which is still in operation in the US today.

The series was produced until 1934, a nine-year run. These early banknotes marked the beginning of the Bank of Mexico's official involvement in printing paper money.

Interestingly, the Bank of Mexico directed the printing of these banknotes, a significant milestone in the country's financial history.

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If you have old Mexican banknotes, you can try to assess their current value as collector's items, as they could be worth more than their regular monetary value.

Historical banknotes in good condition can be quite valuable, especially if they're silver peso coins.

You can exchange old notes that have no value as collectibles for modern banknotes at the present-day value.

The Bank of Mexico has a list of the present-day values of old banknotes that you can find online.

Spotting Counterfeit Banknotes can be tricky, but there are a few tips that can help.

First, make sure all of the details on the note are correct, and check for any discrepancies in the design, such as a missing or incorrect security feature.

Check to see if all of the colors on the note match up correctly, and take special care when examining the serial numbers, as each genuine note should have its own unique number.

Genuine notes should feel crisp and new, while counterfeits often feel slightly rough or worn.

Counterfeit currency in Mexico is rare, but it's still possible to come across a counterfeit bill, so you should always be cautious.

Holding the note up to a light source can help you spot any watermark images that might be present.

Historical banknotes in Mexico can be valuable collector's items if they're in good condition and feature silver peso coins. You can try to assess their value, but it's best to consult an expert.

The Bank of Mexico has a list of the present-day values of old banknotes that you can find online. This is a good resource if you're unsure about the value of your old notes.

Mexican banknotes feature famous people from the country's history, just like US dollars. These individuals are often leaders, revolutionaries, or notable figures who played a significant role in shaping Mexico's past.

The 200 pesos bill pictures Miguel Hidalgo and José María Morelos y Pavón, who were both leaders in Mexico's fight for independence. Miguel Hidalgo is also known as the Padre de la Patria, or "Father of Homeland".

Old banknotes that are no longer in circulation can't be used to pay in stores in Mexico. You'll need to exchange them for modern banknotes at a bank.

Using $1000 bills or large denomination bills can be tricky when traveling to Mexico. Some stores may not be able to give you change, so it's best to avoid them.

The current version of the 20 pesos bill features a historic scene of the entrance of the Tigarante Military into Mexico City.

This scene consummated Mexico’s Independence and is an important part of the country’s history.

Agustín de Iturbide, the battalion leader at that time, is prominently depicted in front of the crowd on this bill.

You can find this bill in circulation, but be aware that older bills are no longer accepted in stores.

It’s a good idea to check the currency before using it to make a purchase.

US Bill Colors are relatively simple compared to some other countries' designs. They typically feature a mix of colors such as green, blue, and red.

These colors have a special meaning, but it's not explicitly stated in the design of US bills. In contrast, the Mexican peso bills have colors that represent hope and freedom, union and justice, the blood of national heroes, and the richness of their soil.

Each US bill has a unique design, but it's not necessarily inspired by archeological sites, landscapes, or cultural symbols like some Mexican bills.

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The Mexican currency has a unique way of varying in color, texture, and size to make it easier to tell apart.

This design feature helps deter counterfeiting and assists the blind.

The four largest bills are not only the longest but are also made out of a different material than the smaller bills.

The larger bills are made from paper while the 100, 50, and 20-peso bills are made from plastic.

Coins are an essential part of Mexican currency, and understanding their denominations can be helpful when traveling or doing business in Mexico.

Centavos coins come in denominations of ¢5, 10, 20, and 50. These coins are widely used and can be found in everyday circulation.

The 50 and 100 peso coins from the 1996 series contain a silver center, making them the only coins still in circulation to contain any silver. However, they are rarely used due to their value exceeding their face value.

Peso coins can be found in denominations of $1, 2, 5, 10, 20, 50, and 100. The silver center in the 50 and 100 peso coins is a notable feature.

Here's a rough estimate of the value of Mexican coins in US dollars, using a conversion rate of $1 USD = $20 MXN:

Peso coins are also worth roughly the following in US dollars:

If you're traveling to Mexico, it's helpful to know how to quickly convert pesos to dollars in your head. Right now, one U.S. dollar equals about 20 pesos, making it easy to convert with a simple formula.

To convert pesos to dollars, you can use the following trick: move the decimal point over one digit to the left, then cut that number in half. For example, if you're buying something that costs 500 pesos, you'd move the decimal point to get 50, then cut that in half to get 25 dollars.

This method is surprisingly accurate, with a rough calculation of $25 being pretty close to the actual value of 500 MXN, which is around 25.86 USD. It's a useful tip to have in your back pocket when you're out and about in Mexico.

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Converting US Dollars in Your Head is a useful skill to have when traveling abroad, especially in countries like Mexico where the local currency is the peso.

In Mexico, the exchange rate is roughly 20 pesos to the US dollar. This makes it easy to do quick calculations in your head.

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If you're shopping in Mexico and see a price tag of 500 pesos, you can easily convert it to US dollars by moving the decimal point one digit to the left, which leaves you with 50. Then, simply cut that in half, and you'll get a rough estimate of 25 dollars.

For example, if you see a price of 965 pesos, you can move the decimal point one digit to the left, which leaves you with 96.5. Cutting that in half gives you a rough estimate of 48.25 dollars.

This method is not an exact conversion, but it's a quick and easy way to get a rough idea of the price in US dollars.

Consider reading: Currency Conversion Chart Euro to Dollar

Mexico Currency Exchange is a unique experience, to say the least. You'll often find that larger bills like 200 pesos can be more trouble than they're worth when purchasing smaller items.

Ten-peso coins are surprisingly valuable, as they're often easier to use for making purchases and getting change.

If you're making a purchase that requires a large amount of change, try to use smaller denominations to make the transaction smoother. This will increase your chances of getting the change you need.

Vendors might ask you to wait a moment if you don't have the correct change or close to it. They might even run next door to see if a neighboring establishment can break a larger bill for you.

The Mexican peso has a variety of coins and bills available, including 5, 10, 20, and 50 cent coins, as well as 1, 2, 5, 10, and 20 peso coins.

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