The "Stability and Economic Growth Pact" in the early 1990's was an economic solution to solve Mexico's hyperinflation problems. A part of the pact required the debasement of old currency and the introduction of new currency. Mexico provided a three year window (1992 to 1995) where the two currencies would circulate side by side allowing the general public time to exchange old currency for new currency.
Additionally, since the peso was already in circulation the new currency would be identified as Nuevo Pesos (nuevo is Spanish for New). After the end of the 3 year window (beginning in 1996) all former coinage was de-issued and denominations for new coinage was changed from Nuevo Pesos to just Pesos.
The obverse design features the Mexican coat of arms, an eagle clutching a snake while it perches on a prickly pear cactus. On the outer periphery is the phrase “ESTADOS UNIDOS MEXICANOS” or as translated to English “United Mexican States”.
The reverse design features the denomination with the year of issue above and mint mark “Mo” (for the Mexico City Mint) to the right of the design.
Type 1 Nuevo Peso – 1992 to 1995
Type 2 Peso – 1996 to present
|Type 1 Reverse||Type 2 Reverse|
General Market Notes
There are no rarities for the series and all examples are readily available.