BajaNomad

Silver and Gold Pesos?

CortezBlue - 8-11-2011 at 04:40 PM

Has anyone purchased any silver or gold coins from a Mexico bank in San Felipe, Mexicali or San Luis

If so,

How did you pay? Credit Card?

Were there any additional fees or was it the spot price of gold or silver for that day?



[Edited on 8-12-2011 by CortezBlue]

DENNIS - 8-11-2011 at 05:18 PM

Quote:
Originally posted by CortezBlue
Has anyone purchased any silver or gold coins from a Mexico bank in San Felipe, Mexicali or San Luis


What are silver and gold Pesos?

CortezBlue - 8-11-2011 at 05:26 PM

Quote:
Originally posted by DENNIS
Quote:
Originally posted by CortezBlue
Has anyone purchased any silver or gold coins from a Mexico bank in San Felipe, Mexicali or San Luis


What are silver and gold Pesos?


Mexican 50 Gold Peso Centenarios

CortezBlue - 8-11-2011 at 05:30 PM

Damn, I blew it

The correct answer should have been

About $1800 an ounce

DENNIS - 8-11-2011 at 05:30 PM

Quote:
Originally posted by CortezBlue
Mexican 50 Gold Peso Centenarios


I've seen them, but do banks still sell them? They have more collector value than the bank is willing to deal with, I'm sure.

CortezBlue - 8-11-2011 at 05:36 PM

Quote:
Originally posted by DENNIS
Quote:
Originally posted by CortezBlue
Mexican 50 Gold Peso Centenarios


I've seen them, but do banks still sell them? They have more collector value than the bank is willing to deal with, I'm sure.


Yep, they sell them in the bank and have for many years.

dean miller - 8-11-2011 at 05:39 PM

Cinco peso"Hidalgos" from the 1950s
271/2 grams and ley 720

The disappeared from the market many many years ago.

We use to go to the local banks and purchase them at face value when the peso was 12.5 to the dollar..what a bargin

Now I only have three remaining.......

sdm

Howard - 8-11-2011 at 05:48 PM

Back in the 60's my mom and dad went to a bank in Mexico City and bought a 50 peso gold coin for $40. I still laugh with my 95 year mother on why they didn't buy more.

BTW, I still have the coin.

Marc - 8-11-2011 at 07:12 PM

Quote:
Originally posted by dean miller
Cinco peso"Hidalgos" from the 1950s
271/2 grams and ley 720

The disappeared from the market many many years ago.

We use to go to the local banks and purchase them at face value when the peso was 12.5 to the dollar..what a bargin

Now I only have three remaining.......

sdm


What are they worth in USD??

CortezBlue - 8-11-2011 at 07:50 PM

The reason I am interested in buying gold directly in Mexico has to do with the value of the $ vs Peso.

I can use my credit card and get exact exchange rate with no additional fees and, I hope, the current spot market price for gold.

The 50 peson Centenarios has about 1.2 oz of gold. So if you calculate 1.2 x gold spot price, is what it should cost.

dean miller - 8-11-2011 at 07:58 PM

Quote:
Originally posted by Marc
Quote:
Originally posted by dean miller
Cinco peso"Hidalgos" from the 1950s
271/2 grams and ley 720

The disappeared from the market many many years ago.

We use to go to the local banks and purchase them at face value when the peso was 12.5 to the dollar..what a bargin

Now I only have three remaining.......

sdm

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
What are they worth in USD??


What ever 27 1/2 grams of ley 720 silver is currently worth?

SDM

mulegejim - 8-11-2011 at 09:13 PM

Quote:
Originally posted by CortezBlue
Quote:
Originally posted by DENNIS
Quote:
Originally posted by CortezBlue
Has anyone purchased any silver or gold coins from a Mexico bank in San Felipe, Mexicali or San Luis


What are silver and gold Pesos?


Mexican 50 Gold Peso Centenarios


In gold there were at least a 50, 20 and 2 peso coin. I happen to have a 50 peso, 2 twenty peso and several 2 peso gold coins. I don't believe they are pure so the value is somewhat less than the weight of the coin. It is correct that the 50 peso is 1.2 ounces not sure of the others, however, a little quick math should provide the answer. Jim

tjBill - 8-11-2011 at 09:22 PM

Except many are predicting the value of gold will soon crash.

mtgoat666 - 8-11-2011 at 09:25 PM

Quote:
Originally posted by CortezBlue
Has anyone purchased any silver or gold coins from a Mexico bank in San Felipe, Mexicali or San Luis

If so,

How did you pay? Credit Card?

Were there any additional fees or was it the spot price of gold or silver for that day?



[Edited on 8-12-2011 by CortezBlue]


don't think you can buy them from mex govt or mex banks (don't think mex mints them anymore).
they are about same marketability as coronas or krugerrands - sell for about 1 or 2 percent above market rate for gold.

if you are considering buying gold today, you are too late, doubt it will go much higher. you are better off buying blue chips after a large 500 pt market drop. buy low, sell high, stay thirsty my friends.

mulegejim - 8-12-2011 at 07:10 AM

http://www.cmi-gold-silver.com/mexican-gold-coin-50-pesos.ht...

DENNIS - 8-12-2011 at 07:23 AM

Back in the sixties, a buddy of mine had one of those 50 P coins mounted in a money clip. In those days, it was illegal to have more gold than it took to fill a couple of teeth.
One day, he was returning north through the border and got into an arguement with the gate inspector and they took him inside to establish who was boss there.
They confiscated, forever, his cold coin....right after giving him a body-cavity search.
Not one of his finest days.

Coin Values

Marinero - 8-12-2011 at 08:04 AM

There are several sites on the web which will tell you what the precious metal content and "melt value" of various coins are. Just Google "melt value (your coin)"

RichBaja - 8-12-2011 at 08:14 AM

I sure hope these gold and silver pieces are not "mas o menos" like the gas pumps and propane tanks. Could lose hundreds just on that.
:lol::lol::lol:

DianaT - 8-12-2011 at 08:44 AM

Quote:
Originally posted by Marinero
There are several sites on the web which will tell you what the precious metal content and "melt value" of various coins are. Just Google "melt value (your coin)"


Thanks, I found what I was looking for. :biggrin:

Bajajorge - 8-12-2011 at 09:26 AM

I remember in the late 70s everybody was running to Mexico to buy up the gold Pesos. The Mexicans were still using them as everyday coin and you would get them as change when you bought stuff in a store or bar.

They were starting to get scarce around that time.

Pescador - 8-12-2011 at 10:01 AM

If you go to http://www.banamex.com and click on more values section, you will get todays buy and sell rates for Centenarios and several other coins. They buy and sell them, but each bank can only get a few, but they will buy them at each bank for the advertised price. They are 1.2057 oz of gold and are 90% pure, meaning they have some alloy for hardness and durability. Coin collectors consider them a good buy because they have a small premium over spot gold prices. Here is another site.

http://www.gainesvillecoins.com/products/154661/Mexican50GoldPesoCentenarios(12057oz).aspx

And one of the best US dealers in those coins which is cheaper than the banks in Mexico.
http://www.tulving.com/50peso.html

woody with a view - 8-12-2011 at 11:18 AM

love this stuff! a nomad version of wealthredistibution-backtotheholderofthecards.

and i thought GWMGF was a gonna make my golden years platinum.......