FREE: 1989 $1000 MEXICAN COIN

Is this a commemorative or a circulation piece? Why dollars and not pesos?

Here's a better answer to pour question:

Between 1960 and 1971, a new coinage was introduced, consisting of brass 1 and 5 centavos, cupro-nickel 10, 25 and 50 centavos, 1, 5 and 10 pesos and silver 25 pesos (only issued 1972). In 1977, silver 100 pesos were issued for circulation. In 1980, smaller 5-peso coins were introduced alongside 20 pesos and (from 1982) 50 pesos in cupro-nickel. Between 1978 and 1982, the sizes of the coins for 20 centavos and above were reduced. Base metal 100, 200, 500 ,1000 and 5000-peso coins were introduced between 1984 and 1988.

Inflation and Devaluation: The peso was trading at about $12.5 MXP to $1 USD, when in the late 1980's, it began a period of hyperinflation due to rapid government printing of paper money, mostly to finance social programs. The hyperinflation created economic chaos within the country and led to continual devaluations of the currency in the global markets. The peso devalued from 12.5 to about 3000 pesos for $1 USD in a few years. In 1993, Mexican government under Carlos Salinas de Gortari lopped off the three zeros, creating the Nuevo Peso (New Peso, MXN) at about MXN 3 $1 USD. The peso has continued to inflate/devalue from that MXN 3 to $1 USD, to about MXN 13 for USD $1 (early 2010). The peso thus appears to have been holding its value over the last 25 years (an apparent change of only 12.5 to 13 for $1 USD); when in reality, it has devalued by over 10,000 percent. As of early 2010, the Mexican government continues to fight a slowly losing battle against inflation as the peso continues to inch up against the USD. (In 2009 alone, it went from 10 to 1 to 12 to 1.)

Excellent info! Thanks!