Official: 10 peso coins will no longer be made the same; Why did Banxico change its materials?

Why was it decided to change the material of the 10 peso coins?

The origin of the change is found in an initiative presented by the federal Executive before the Chamber of Deputies, with the objective of reducing the cost of coin production. The proposal was sent by President Claudia Sheinbaum and was based on the sustained increase in the price of copper in recent years.

Within the document it is detailed that the alloy known as silver nickel, used in the center of the 10 peso coins, contains 65% copper, 10% nickel and 25% zinc. According to the initiative, copper – its main component – ​​has registered an increase of up to 82% in its price in the last five years.

This increase in price has a direct impact on the cost of minting. For this reason, the government proposed replacing said alloy with alternatives with less dependence on copper, without modifying the physical characteristics necessary for the daily circulation of the currency.

The new materials that the 10 peso coins will have

The approved change establishes that 10 peso coins may be manufactured with different combinations of materials, both in their central part and in the peripheral ring. According to what was published in the Official Gazette of the Federation, the core may be made with sterling silver, silver nickel silver or nickel-coated steel.

For the outer ring, the use of aluminum bronze or bronze-coated steel will be permitted. These options seek to preserve the strength, weight and appearance of the coin, while reducing costs associated with higher-priced raw materials.

The Ministry of Finance reported on this adjustment through its official channels and noted that the modification also opens the door to incorporating more efficient industrial processes, as well as elements that reinforce security against counterfeiting.