Last Updated on August 20, 2022
Do you have a 500 Madero coin? Does your piece feature the characteristic eagle with a snake in its mouth and the reverse shows a bust of Francisco Madero?
Then you might be holding a 1988 Mexico 500 pesos. Keep reading to find out more about this coin and its value.
How much is a 500 Madero coin worth?
The 1988 500 Madero coin is selling for about $2 for uncirculated coins. Circulated pieces on the other hand are only worth face value.
Is the 500 peso coin still in circulation?
500 peso coins Dating back to the late 1980s are no longer in circulation, as Mexico no longer produces a 500 peso coin on the said dates.
What are the technical specifications of the 500 Madero coin?
The 500 Madero coins struck in 1986 and 1992 are made of copper-nickel. The reverse side of the coin shows a bust of Francisco Madero who is a writer, revolutionary, and 33rd president of Mexico and you can see the Mexico City mint mark is to the right side of the coin.
The obverse side of the coin shows the characteristic of an eagle with a snake in its mouth, the legend ESTADOS UNIDOS MEXICANOS (United States of Mexico).
The government of Mexico removed 3 zeros in 1992, which meant that the Francisco Madero 500 pesos translated to a new 50 centavos. These coins are still legal tender. It can be spent as a current 50 centavos or about US 5 cents.
What is the best way to protect coins?
Rare coins, coins made from gold or if coins have some type of historical significance are most sought after by coin collectors. An experienced coin collector knows that a coin is valuable if they are in good condition and well preserved. Hence, it’s beneficial to know how to store and care for your coins.
This is a sophisticated option to store a coin collection. Coin albums have multiple pages that contain holes where you can place your precious coins. But remember, be careful when removing coins from the album as the mylar slide can leave a mark or scratch if the coin slides against it.
The bedroom or a den is usually the safest place to keep your collectible coins. This place tends to have a comfortable temperature and humidity level which provide safety for your coin. Avoid storing coins in areas that easily accumulate heat like the kitchen.
Home or Office Safe
This is a good area where you can store your coins. However, vaults are constructed with materials that emit water vapor so over time the moisture in the vault can possibly leak out and make the vault humid.
So if you are planning to store your old coins in a safe, better put a silica gel pack in the safe to absorb moisture.
Safe Deposit Box
While it can be quite expensive, a safe deposit box at the bank is the safest storage option for your coin collection.
Cabinets made of wood contain coatings and adhesives that can damage your coins. For this reason, it is safe to opt for a metal cabinet. Nevertheless, metal can attract moisture so make sure to put your metal cabinet in a place within your home with a low moisture level.