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During the 1980s Mexico endured a period of high inflation that greatly eroded the peso's value. In 1992-93 existing pesos were replaced with "nuevo pesos" (new pesos) at an exchange rate of 1000 to 1. That means your coin is equivalent to 2 new pesos, or about 20¢.

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Q: What is a 1989 2000 pesos worth?
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