Value of 1987 Mexican 20,000 Pesos Banknote (El Banco de México)

The 1987 20,000 pesos note (Series AA–AZ, Pick #89) features Don Andrés Quintana Roo. It was demonetized in 1993 when Mexico revalued: 1,000 old pesos = 1 new peso (MXN).

Current Value

• Face value (if still legal tender): Zero — demonetized; not exchangeable at banks.
• Collector value (numismatic):
  • Uncirculated (UNC): $3 – $8 USD
  • Very Fine (VF): $1 – $3 USD
  • Circulated/poor: $0.50 – $1 USD
• Silver content: None — paper/cotton polymer.

Why the Original Answer ($1.10) Was Wrong

It likely used the 1993 conversion rate (20,000 old pesos = 20 new pesos ≈ $2 USD then) but ignored demonetization. Banknotes cannot be redeemed at Banco de México since 1996.

Selling

• eBay, Etsy, numismatic dealers, Facebook groups.
• Sell as collectible, not currency.
• Better value in lots (e.g., 1980s–90s Mexican high-denom set).

Note: 20,000 pesos 1985–1989 series are common; 1991–1992 (Series 1A) scarcer.