How do you cash in peso coins?

Answer 1

You can't. Due to hyperinflation in Mexico the old peso (Pesos issued until 1993) was replaced by the "new" Peso at the rate of $1000 old pesos to the new. So your bill would be 50 new pesos. However, Mexican banks stopped redeeming old pesos for new in 1996 so your bill is just a collectors item and could be sold on eBay and the like, but can't be redeemed for Mexican Pesos.

Answer 2

First, you need to know if your Pesos are still legal tender. Assuming you mean Mexican pesos, coins dated prior to 1992 are the "old peso" coins which 1000 of those "old pesos" equal one "new peso" (the current Peso used in Mexico). I also don't think that banks will take these old Pesos in exchange for new pesos anymore, and so if you've got pesos dated prior to 1992, you might not be able to cash them in at a bank and you'd have to sell them to a coin collector.

If you've got ones dated 1992-present, next, I'd remove any of the silver-center bi-metallic coins as I believe the collector/silver price of these coins exceeds their face value. I believe 10 peso coins dated 1992-1995 have a sterling center, as do the 20 and 50 peso coins according to Wikipedia.

Next, check with your local banks, some will exchange coin for cash, particularly those close to the Mexican border, but some do not. If your bank doesn't take them, look for currency exchange services which might take them. If all else fails, sell them on Craigslist or eBay or sell them to a friend who is going down to Mexico.