How Much Is Peso Pluma Worth: All You Need to Know
If you’re planning to visit Mexico or invest in the country’s economy, it’s essential to understand the value of the Mexican peso. But did you know that not all pesos are created equal? In this article, we’ll focus on one type of peso: the Peso Pluma.
The Peso Pluma is a term used to refer to the Mexican peso that has a special low value. This version of the peso is smaller in size and lower in weight compared to the regular peso that we are all familiar with. But how much is Peso Pluma worth? In this article, we’ll uncover all the details you need to know.
First, let’s understand the history of Peso Pluma and how it came to be. In the 19th century, the Mexican government began issuing a currency known as “reales”. The “reales” were the precursor of the modern-day Mexican peso. However, during this time, there is increasing inflation, which led to the creation of a new currency known as “centavos,” which were fractions of a peso.
Then, the concept of “Peso Pluma” came to life in the early 20th century as a result of the Mexican government trying to combat counterfeiting. To combat counterfeit, the government decided to create a new coin that was much harder to counterfeit. As a result, the Peso Pluma was created.
The Peso Pluma was minted in silver and has a face value of 5 pesos. However, the coin’s size and weight are significantly smaller compared to a regular 5 peso coin. Peso Pluma is 23mm in diameter, whereas a regular 5 peso coin is 29mm. The weight of the Peso Pluma is 1.4 grams, while the weight of a regular 5 peso coin is 7.07 grams. The minting of Peso Pluma stopped in 1970.
So, how much is Peso Pluma worth now? The answer to that is dependent on the market value of silver. Peso Pluma is minted in silver, so its value is closely linked to the current market value of silver. According to experts, the current market value of silver, as of July 15, 2021, is $26.26 per ounce. And, each Peso Pluma is minted in 0.0514 oz of silver.
Therefore, the calculation to determine the value of Peso Pluma is simple. Multiply the current market value of silver with the amount of silver each Peso Pluma contains. So, 0.0514 oz of silver multiplied by $26.26 equals $1.35. That means, as of July 15, 2021, a Peso Pluma is worth $1.35 in the current market.
Investing in silver and Peso Pluma can be a profitable move. As with any investment, the value of silver and Peso Pluma fluctuates daily, and the market trend plays a significant role in determining the value. However, if you’re looking for a long-term investment, investing in silver can be a wise decision.
In conclusion, the value of Peso Pluma is dependent on the market value of silver. It is not commonly used in transactions these days as its circulation has stopped since 1970. So, if you’re planning to visit Mexico or invest in the Mexican economy, be sure to check the current demand and value of the Peso Pluma. Understanding the value of Peso Pluma can help you make the right investment decision.