What Denominations Do Pesos Come In?
Understand how the peso, a currency name shared by many nations, has distinct denominations and forms in each country.
The term “peso” identifies the currency used in several countries, primarily those with historical ties to Spain. While they share the same name, each nation’s peso is a distinct currency with unique denominations, designs, and economic value. Understanding these differences is important when dealing with international transactions or travel.
The Peso Across Nations
The peso serves as the official currency for a number of countries around the world. These include Mexico, Argentina, Chile, Colombia, Cuba, the Dominican Republic, the Philippines, and Uruguay. Each of these nations maintains its own central bank, which is responsible for issuing and regulating its specific peso.
Understanding Peso Banknotes
Banknotes denominated in pesos typically range from lower values, such as 20 or 50 pesos, up to higher denominations like 1,000 or even 100,000 pesos. In Mexico, commonly circulated banknotes include 20, 50, 100, 200, 500, and 1,000 pesos, with the 50, 100, and 200 peso notes being the most frequently used. These banknotes often feature significant historical figures, national landmarks, or natural elements unique to the country. Designs can vary, with some notes printed on polymer.
Argentina’s peso banknotes include denominations of 10, 20, 50, 100, 200, 500, 1,000, 2,000, 10,000, and 20,000 pesos. Due to inflation, lower denominations like 10, 20, and 50 pesos are rarely seen in daily transactions. Similarly, in Colombia, banknotes are issued in denominations ranging from 2,000 to 100,000 pesos, including 5,000, 10,000, 20,000, and 50,000 peso notes. The designs on these notes often highlight national heroes, significant cultural sites, or the country’s diverse flora and fauna.
Understanding Peso Coins
Peso coins also come in various denominations, typically ranging from centavo fractions to several whole pesos. These coins are generally used for smaller transactions. In Mexico, common coin denominations include 50 centavos, and 1, 2, 5, and 10 pesos, with some 20-peso commemorative coins also in circulation. While centavo coins exist, they are less frequently encountered in daily use, as prices are often rounded.
Argentina’s coins include 1, 2, 5, and 10 pesos, although centavo coins (e.g., 5, 10, 25, 50 centavos) are rarely minted or used due to their diminished value. Colombian peso coins are available in denominations such as 50, 100, 200, 500, and 1,000 pesos. Historically, Colombia also had centavo coins, but these have largely ceased circulation due to inflation. Like banknotes, peso coins typically feature national symbols, historical figures, or other elements that reflect the issuing country’s heritage.