# A Question About Colombian Pesos **URL:** \ **Category:** Factual Questions\ **Created:** [September 6, 2004, 10:00am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315 "2004-09-06T10:00:51Z")\ **Posts on this page:** 9\ **Page:** 1
**Author:** ![Rayne\_Man](https://avatars.discourse-cdn.com/v4/letter/r/df705f/32.png) [@Rayne\_Man](https://boards.straightdope.com/u/Rayne_Man)\ **Post date:** [September 6, 2004, 10:00am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/1 "2004-09-06T10:00:51Z")
During a recent trip to Madrid I found a 2002 Colombian 5 Peso coin in my change. This is quite an elaborate affair , two tone in colour and the same size and shape as the 1 Euro coin. Doing some research on the web I have found out that there are about 4000 pesos to the Pound Sterling so this coin is almost worthless. The question I want to ask is why such an elaborate designed coin for such a small denomination ? Of course I could have misread the exchange rates and the coin is more valuable. Anyone with an answer ? ---
**Author:** ![\_xiao\_wenti](https://avatars.discourse-cdn.com/v4/letter/_/b782af/32.png) [@\_xiao\_wenti](https://boards.straightdope.com/u/_xiao_wenti)\ **Post date:** [September 6, 2004, 11:13am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/2 "2004-09-06T11:13:44Z")
I think that it is a function of inflation. When the 5 peso coin was made, it had a lot more purchasing power. Then inflation hit and it became worthless. I seriously doubt that they are making them any more. If they are they are stamped out of aluminum. ---
**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\ **Post date:** [September 6, 2004, 11:22am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/3 "2004-09-06T11:22:11Z")
It NEVER had much purchasing power. It was just the fad of the 1990’s-2000’s to make bimetallic coins for the coin that would essentially be about the value of $1-2. US Sometimes even less. I think the Italians made their 500 lire coin(worth about 25 cents US) as early as anyone. I think they’re quite cute, when new. ---
**Author:** ![Rayne\_Man](https://avatars.discourse-cdn.com/v4/letter/r/df705f/32.png) [@Rayne\_Man](https://boards.straightdope.com/u/Rayne_Man)\ **Post date:** [September 6, 2004, 12:37pm UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/4 "2004-09-06T12:37:49Z")
On my reckoning this 5 peso coin is worth 0.125 of a UK penny and 0.2 of a US cent. What a lot of trouble for such a small coin. It cannot be down to inflation since this coin was minted two years ago inflation has been running at about 8% , which is not bad for South America. ---
**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\ **Post date:** [September 6, 2004, 11:03pm UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/5 "2004-09-06T23:03:38Z")
> [@Rayne Man](#): > > On my reckoning this 5 peso coin is worth 0.125 of a UK penny and 0.2 of a US cent. What a lot of trouble for such a small coin. It cannot be down to inflation since this coin was minted two years ago inflation has been running at about 8% , which is not bad for South America. A 5 peso coin from Colombia is about equivalent to the British pound, currently. I don’t know how you figured it, but I’m rather sure I’m correct ---
**Author:** ![Ximenean](https://avatars.discourse-cdn.com/v4/letter/x/aca169/32.png) [@Ximenean](https://boards.straightdope.com/u/Ximenean)\ **Post date:** [September 7, 2004, 12:40am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/6 "2004-09-07T00:40:26Z")
> [@samclem](#): > > A 5 peso coin from Colombia is about equivalent to the British pound, currently. > > I don’t know how you figured it, but I’m rather sure I’m correct Well I make it ~0.1 of a penny, just like **Rayne Man** , the Pound apparently being worth about 4,600 Colombian pesos at the moment. ---
**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\ **Post date:** [September 7, 2004, 1:33am UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/7 "2004-09-07T01:33:09Z")
I’ll withdraw my post. YOu’ll have to forgive my eyesight. I’m sitting here in a dimly lit room, and at 60, you need more light to see than at 20-40. I looked in my current issue of _World Coin News_ at the currency conversion chart, and misread 2600/US$ as 2.600/US$. Mea culpa. I’ll see if I have any back issues that would shed light on how they could have produced a coin which was worth less than the cost of production. ---
**Author:** ![depocali](https://avatars.discourse-cdn.com/v4/letter/d/e9a140/32.png) [@depocali](https://boards.straightdope.com/u/depocali)\ **Post date:** [September 7, 2004, 3:55pm UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/8 "2004-09-07T15:55:46Z")
I don’t recall any 5 peso coins made in the manner you are stating. I do recall the old 5 peso coin (a huge pocket-busting piece) and the new 5 peso coin [scroll to end of page](http://www.geocities.com/ywammedellincolombia/Money.htm) ( a tiny useless and valueless coin). the coin you seem to referring to is the 500 peso coin [photo](http://www.banrep.gov.co/blaavirtual/num/experman/11recien/numismat/recien7.html) (bicolor) which when issued was worth about US$.50 and is now worth about US$0.20. ---
**Author:** ![Rayne\_Man](https://avatars.discourse-cdn.com/v4/letter/r/df705f/32.png) [@Rayne\_Man](https://boards.straightdope.com/u/Rayne_Man)\ **Post date:** [September 7, 2004, 4:29pm UTC](https://boards.straightdope.com/t/a-question-about-colombian-pesos/263315/9 "2004-09-07T16:29:52Z")
Confession Time. :smack: I have been leading you up the garden path. I only got the country wrong didn’t I ? I have just had another look at the coin and it is from the Dominican Republic and not Colombia. How I made the mistake I will never know. Perhaps it was I was still thinking of my wonderful trip to Madrid and not concentrating . I will now go and sit in a very dark corner to repent for my sins. Thanks to all out there for your efforts . BTW there are about 56 Dominican pesos to the pound so this coin is worth about 9 pence or 6 us cents. That is more sensible.