Things That Are Unbelievably Cheap In Mexico
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You may have heard about the affordable cost of living in Mexico, but exactly how much are things cheaper in Mexico?
Delicious and cheap AF street tacos are only the tip of the iceberg, amigo.
In this post, Im revealing nine things that are so unbelievably cheap in Mexico youll be tempted to leave your budget at the border.
If youre thinking about moving abroad, youd do well to consider Mexico. Check out these posts to learn more about expat life in Mexico:
Gold Mining In Mexico: Biggest Mines
Mexico has been a top gold-producing country for many years, and in 2018 its gold output for the year fell slightly to come in at 118.4 metric tons.
The decline was largely due to junior miners having difficulty accessing financing, the one month blockade of Newmont Goldcorps Peñasquito gold mine and the ongoing obstruction to MAG Silvers project in Chihuahua. Penasquito is Mexicos top gold mine, and now harder and lower-grade ore types are being mined there.
Other big gold mines in the country include Fresnillos La Herradura and Noche Buena mines, Newmonts Los Filos mine and Agnico Eagle Mines Pinos Altos.
Infographic data via INEGI.
Main Sizes Of The Mexican Gold Peso Coins
Mexican pesos were manufactured in different denominations, thus they were produced of several different sizes: all the issues, including 1945 Dos Pesos Gold Coin contains 0.482 ounces of pure gold, the 2.5 Pesos Gold coin contains .0603 ounces of Gold, the 5 Pesos Gold Coin contains 0.1205 ounces of Gold, the 10 Pesos Gold Coin contains 0.2411 ounces of Gold, the Mexican 20 Pesos Gold Coin was made of .0423 ounces of gold and the 50 Pesos Gold Coin was made of 1.2057 ounces of gold.
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The Production Of The Mexican Peso Coin
Production of Mexican Peso coins has taken unusual twists and turns in that mintage is inconsistent and limited. Up until 1972, the Mexican Peso was among the most popular bullion on the market, but with the introduction of the South African Krugerrand which targeted consumers and pushed up the price of gold bullion, the Mexican Peso gold bullion fell out of favour with investors. As a result production stopped until 2002 when the coins were minted for a further seven years before production was halted again despite the demand for gold bullion around the world caused by the 2008 banking collapse. Gold Mexican Pesos minted from 1949 onwards also carry the date of 1947 and only carry a small premium whereas coins minted between 1921 and 1931 are highly collectable and draw higher premiums. The coins contains 37.5 grams of pure gold, around 90 per cent of the metal content, The other 10 per cent is made up with copper which enables the coins to be more durable. The Mexican Peso is an attractive investment because of their rarity. They are often difficult to get despite their low premiums, which makes them all the more appealing to collectors who are willing to pay a reasonable price for them. Thus the Mexican Peso comes an invaluable asset for casual investors looking to profit from gold bullion investments.
What Are Mexican Gold Coins How Much Are They Worth
When we think about Mexico today, its easy to imagine clear blue water, nice weather, and sandy beaches. What were likely to forget, however, is that Mexico also has large silver and gold deposits.
As a result, if youre a gold collector or a numismatist in general, you may have overlooked Mexican gold coins initially. You may even feel skeptical about buying them. To help you learn more about them, we compiled this guide to these fascinating coins.
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Buying Mexican Peso Coins
Buying Mexican Peso bullion from the CoinInvest online store could not be easier. Simply select the coin of your choice by clicking on the image from the selection above to go through to the product description page. Here you will find the relative pricing apportioned to the number of coins you wish to buy together with more information about the history and value of the individual coins. To buy the coins, click on the ‘add to cart’ button which is highlighted by the orange strip and found in the volume pricing section of the properties table. Once you have added the bullion of your choice to your shopping basket you can either proceed to checkout or continue to browse our online store for other great deals.
About The Mexican Gold Peso Coin
Mexican Gold Pesos are considered the most iconic pieces of Mexican coinage history. The Gold Peso Coins currently available for purchase on the gold market were produced by the Mexican Mint in several denominations of 50, 20, 10, 5, 2.5, and 2 pesos, struck from .900 pure gold with 10% copper additions to increase their hardness. Each gold peso carries a different obverse design, according to the coins denomination. There first Gold 50 Peso was issued in 1921 in celebration of Mexicos 100th year of Independence. Mexican Gold coins are a popular acquisition for both collectors and investors due to their high historical value, making them a great option for diversifying your investment or collectible portfolio.
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Is Living In Mexico Cheap
Well, its all relative, isnt it?
Living in Mexico isnt as cheap as, lets say, Vietnam. But, its significantly more affordable to live in Mexico than the United States.
Note: Throughout this post, Ive calculated all the prices to reflect the United States Dollar . Some were converted from pesos , but to keep things simple, I elected to include the amount in USD only.
Gold Mining In Mexico: What The Future Holds
Despite the potential that Mexico has to offer, it is also well known that the region has been plagued with violence and illegal gold mining. This is one of the reasons that exploration has not exploded in the North American country.
However, many with a pulse on this jurisdiction have speculated that AMLOs proposed changes, and new standards on mining the yellow metal, may be what Mexico needs to help the country and the industry move past its history of violence.
In addition to increasing security within the mining industry, AMLO will also waive a proposed tax increase for foreign miners in the region. With only about 25 percent of Mexico being explored for gold, these changes could be a catalyst for more exploration and gold production in the country.
Additionally, according to Camimex, projects with potential include: Chesapeake Golds Metates project Torex Golds Morelos Norte project and Fresnillos San Julian and Orisyvo projects.
What the future may hold for gold mining in Mexico remains to be seen, but for now the country continues to be a top producer of gold, as well as many other commodities, including silver, zinc, manganese, graphite, lead and copper.
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Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.
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Transporting Gold By Plane
If youre jetting off to your new home, your best bet could be to stash your gold in your carry-on luggage. Dont stick gold in your checked bagsyou run the risk of the coins or bars being lost, stolen, or damaged.
Before going through security or customs, tell the officers that youre carrying gold, USA Todayadvises. If you have paperwork related to the gold , be ready to show it to the officers. Keep in mind that you might end up having to show officers your gold coins or bars in a private screening area. However, the Transportation Security Administration shouldnt have a problem with your gold going down the conveyor belt and through the x-ray machine.
USA Today warns against displaying your gold to anyone or asking a stranger to watch the bag containing your coins or bars. Keep the bag near you at all times.
Its worth noting that youll likely be required to complete declaration forms when youre taking your gold to another country, and you might be obligated to pay taxes.
Transporting Gold By Car
If youre traveling by car, you shouldnt run into any major issues transporting gold coins and barsunless youre crossing the border into Mexico or Canada. Transporting gold across national borders can be tricky, so do your research.
Before heading to Mexico or Canada by car , read the countrys rules about bringing gold there. Also, alert the nearest office of U.S. Customs and Border Protection that youll be taking gold coins and bars into Mexico or Canada.
When youre making a DIY move within the U.S., be sure your gold is securely stored and dont leave it unattended, even if youre making a quick pit stop along the way.
Regardless of whether its a domestic or international over-the-road move, check with your homeowners insurance company to find out what coverage, if any, youll have while transporting your gold. Auto insurance doesnt cover any belongings inside your vehicle, including gold coins or bars.
As you head from point A to point B, monitor weather conditions so that you can shield your gold from extreme heat or dampness.
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How To Preserve A Gold Centenary
Whenever you intend to sell a collectors coin or an antique gold coin, you need to ensure that it does not lose any value over time. For this, conservation is essential. You should pay special attention to:
- Any kind of scratches or scuff marks.
- Bumps and dents on the surface.
- Dirt and traces of dust or other substances.
It is best to keep it as it is delivered to you in the plastic capsule.
Should You Buy Mexican Coins
Mexican coins have a rich history and feature beautiful designs. Understanding something of the history of the Mexican people makes them even more desirable.
With so many collectors in the United States collecting U.S. currency, these coins may be slightly undervalued. As a result, you may get them at favorable rates. Some occasionally sell for less than the spot value of gold.
The prices range from a few hundred dollars to thousands of dollars, accommodating investors at any level.
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Gold Price Today In Mexico In Mexican Peso
Gold ounce price in Mexico is 38,921.10 Mexican Peso per ounce, gold gram price is 1,251.48 per gram 24K, 1,147.19 per gram 22K, 1,095.05 per gram 21K, and 938.61 per gram 18K.
This page shows the current today’s gold prices in Mexico in Mexican Peso according to the local timezone of Mexico City in addition to the last price of yesterday with calculation of the change percent. This includes gold prices in ounce and gram of all gold karats karat 24, karat 22, karat 21, karat 18, and karat 14. Update: We have added the ask and bid gold price in addition to details about the latest gold trades.
Cheaper In Mexico #: Amazon Prime
Furnishing our house was already a bit of a headache, but it would have been a total nightmare without Amazon.
Thank goodness Amazon Prime is so much cheaper in Mexico.
It costs $5 USD per month or $46 USD for the entire year.
To be honest, I dont think we could have furnished our place without it. Since we dont have a car, delivery is life.
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Whats The Future For Gold Mining In Mexico
Mexico is best known for silver mining, but its also a major gold producer. Heres what you need to know about gold mining in Mexico.
Gold mining in Mexico has taken place for at least 500 years, and the country has a history of both commercial and artisanal production. Today, gold and silver account for more than 50 percent of the countrys total metals output.
Over the last decade, gold production in Mexico has stayed relatively stable. However, due to the uncertain gold price environment, very few new mines have opened in the past few years. While gold is beginning to see a turnaround, most mining companies operating in Mexico have been focusing on reducing costs and improving capital management.
Will that change in the future? Weve put together a brief overview of what the future may hold for gold mining in Mexico. Read on to learn more.
Mexican Peso: Gold Bullion Carrying Low Premiums
The Mexican Peso offers exceptional value for investors as they only carry a small premium compared to other bullion products. With a fineness of .900 pure gold content, the bullion coins are 21.6 karat gold thus offer great value for money – and with the promise of excellent returns on investment. Production of Mexican Peso bullion are limited thus they are collectable assets worthy of any coin collection and highly sought after by enthusiasts.
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What The Gold Centenario Looks Like Description And Characteristics
This coin attracts many buyers because of its dimensions, beauty and value. Its main characteristics are:
- Its size is 20% larger than the ounce coins. It is therefore also 20% larger than the U.S. Eagle or the South African Krugerrand.
- Durability: it contains a quantity of 37.5 grams of pure gold out of a total of 41.66 grams. To ensure its robustness, the mixture is 90% gold and 10% copper. This proportion is perfect to ensure its good conservation and durability.
- Historical and aesthetic landmark of Mexico: it has a remarkable historical value, as well as great beauty both in design and luster .
The Top 10 Gold Mines In Mexico
La Herradura, of Fresnillo plc, was placed in the first position among the 10 main mines in Mexico in 2019, according to data from the Mining Chamber of Mexico .
In subsequent positions were the mines: the Limón-Guajes, owned by Torex Gold Pinos Altos-Crestón Mascota , and Los Filos .
With information from Inegi, national gold mining production reported a 7.9% decrease in 2019 compared to 2018, reaching a total of 3.5 million ounces.
Other of the largest gold mines in Mexico were: Mulatos , Peñasquito , Noche Buena , Dolores , Palmarejo , and San Dimas .
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Transporting Gold With A Moving Company Or Courier Service
Avoid shipping your gold coins or bars with the rest of your household belongings when theyre being transported by a moving company.
Although your mover might not prohibit transporting valuables like gold coins and bars, its generally best to keep valuables with you when youre moving, the American Moving & Storage Association says.
A good rule of thumb is to ask yourself whether that belonging can truly be replaced. If it cant, dont ship it, the Association says.
While gold coins and bars technically can be replaced, who wants to go through the hassle of trying to locate them if theyre lost or stolen and then filing an insurance claim if they cant be retrieved?
Plus, if you let a moving company take your gold from your old place to your new place, the gold will be out of your sight and your control until it reaches your final destination. Owning physical gold is about staying in control of your financial future.
A trustworthy courier service like Brinks, G4Si, Malca-Amit, and Via Mat can transport precious metals, but its likely too costly to do so if you own a relatively small amount of gold. If you do own enough gold to warrant the expense, contact several courier services to compare price quotes for armored gold transportation.
Cheaper In Mexico #: Beer
Indio, Corona, Victoria, Carta Blanca: I could go on and on, but the point is Mexico has a lot of fantastic domestic beers.
Unlike in the U.S., you dont need to sacrifice taste for cost-effectiveness .
If youre out and about in the center of Querétaro and order a beer, youll pay $1.60 USD.
In the mood to drink at home? We recently scored three tall boys for $2.80 USD.
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Preparing To Transport Gold
Before you do anything else, gently wipe clean your gold bullion coins and bars with a soft cloth. Removing dust and debris can help prevent damage caused by corrosion or dirt during transport. If your coins are encapsulated in plastic cases, skip this step. Do not remove the coins from their cases.
Next, figure out how youre going to store the gold coins and bars during the journey. To store the coins, use plastic coin bags, tubes, or the original coin holders. As for the bars, wrap each one in a clean cloth or protective plastic.
While gold coins can easily be tucked into a box or bagor even your pocketsgold bars will require more TLC. The bars should be put into a case or box, according to PocketSense.com. If youre stacking the bars, separate the layers with bubble wrap or soft cloths to protect them from damage.
How To Know If Is An Authentic Centenario
As far as gold is concerned, it is very easy to know if the coin is made of gold or another metal. There are many methods of identification. The simplest and most effective is that of the magnet. This way we can distinguish a gold piece from a gold plated one. To perform the test, first get a very strong magnet. Since gold is not a magnetic metal, if the coin is attracted to the magnet, we will know it is a fake.
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