Mexico will stop producing the 20 peso bill and replace it with a coin

Just what everyone wants! More change in their pocket.

The Bank of Mexico (Banxico) announced that in 2025 the 20-peso bill will cease to circulate, to be replaced by coins, due to its practicality, and will cease to be produced this year 2023.

“The banknotes and coins in the withdrawal process still retain their liberating power; that is, they are worth the denomination they indicate, but by resolution of the Bank of Mexico they are withdrawn from circulation through the banks,” Banxico indicated.

The reasons that led Banxico to opt for the 20-peso coin were that they have a longer useful life, and are easier to transport and store without breaking or being damaged.

The 20-peso bill won the prize for the most beautiful in Latin America, in the category of Best New Commemorative Bill in Latin America, awarded by the company High-Security Printing (HSP).

It began circulating on September 24, 2021, and last year, Banxico announced that it would stop circulating.

The 20 pesos bill is made of Polymer and on the obverse, it portrays the entrance of the Triguarante Army to the Mexican capital on September 27, 1821, and on the reverse, it shows the mangrove ecosystem, the Mexican crocodile, and the chocolate heron of the Reserve of the Sian Ka’an Biosphere, Quintana Roo.

Banxico reported that 300 million printed pieces of the 20-peso commemorative bill were issued between 2021 and 2022. It replaced the one with the image of Benito Juárez, in a more stylized version. All these bills will remain valid as long as they are in circulation.

The coins that will replace the 20-peso bills came out at the same time as the commemorative edition, in three designs: 200 years of Mexican independence, 700 years of the Fundación Lunar de México-Tenochtitlan, and 500 years of Historical Memory from Mexico City.

Last year, Banxico reported which banknotes will stop circulating as of 2023, but they can continue to be used to carry out commercial and exchange transactions. They are those of the D1 family, the withdrawal process will begin.

The following list corresponds to the bills that are in the withdrawal process:

— 20 pesos polymer banknote with the image of Benito Juárez, it was the first to be made of this material and it will be the last to be made with this denomination.

— 50 pesos bill with the image of José María Morelos y Pavón.

— 100 pesos bill with the effigy of Nezahualcóyotl.

— 200 pesos bill with the effigy of Juana de Asbaje.

— 500 pesos bill with the image of Ignacio Zaragoza.

— One thousand pesos bill with the image of Miguel Hidalgo y Costilla.

Other banknotes that will stop circulating are those of Family B, issued in 1993, Family C, issued in 1994, Family D, issued in 1996, Family D1, issued between 2001 and 2005, and the one thousand peso banknote, from Family F, with the image of Miguel Hidalgo y Costilla, and the University of Guanajuato, issued in 2008.

In the case of the coins in the process of withdrawal, they are those of Family C: 10 cents, 20 pesos commemorative at the turn of the millennium and 100 pesos, commemorative and Family B: 10 cents, 20 and 50 new pesos that were put into circulation in 1993.

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