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Carron

Sep 25, 2004, 8:51 AM

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Doubling Those Pesos

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I mentioned several weeks ago that my husband has a small coin and paper money business he handles mostly on line. He specializes in Mexican currency, particularly from the days of Pancho Villa and his bunch. It never ceases to amaze me what people will pay for their ignorance.

Today he has listed a regular new 50 peso note that came out of the ATM machine at Soriana several days ago. It probably cost us a little over $4 US at the time we deposited the dollars into our bank account and will cost 37 cents to mail first class. Right now the high bid is $8.55 with three bidders and he has several hours left before the auction ends.

Jerry@Ajijic

Sep 25, 2004, 6:30 PM

Post #2 of 4 (338 views)

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Re: [Carron] Doubling Those Pesos

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Does he need a partner?

thfarrell

Sep 25, 2004, 7:36 PM

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Re: [Carron] Doubling Those Pesos

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Hi...

How does he think this'll affect his reputation?

Positive, negative, not at all?

tom
---
"Beauty is in the i of the Beholder"
(Julia Mandelbrot)

Carron

Sep 26, 2004, 7:31 AM

Post #4 of 4 (282 views)

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Re: [thfarrell] Doubling Those Pesos

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Positively, of course. With on-line auctions the seller gives detailed digital pictures and descriptions of items listed for sale, usually at cost. Competition kicks in and the price goes up as far as the potential buyers want to bid it up. The value of the note in this case is determined by the free market. Obviously these bidders are not trying to get pesos to spend on their next Mexican vacation. They are probably eager to buy and hold a crisp uncirculated foreign note in hopes its value as a collectible will go up in the future.