Juan Brignardello Vela
Juan Brignardello Vela, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.
Starting in 2025, the residents of Mexico will notice a significant change in the 1, 2, and 5 peso coins, according to a decree recently published in the Official Journal of the Federation. This adjustment, driven by the Bank of Mexico (Banxico), aims to modify the metallic composition of these coins, a move that has generated both curiosity and concern among the population. Banxico's proposal was presented last December to the Ministry of Finance, which has now approved the change. In the decree, the Ministry emphasizes that the new metallic composition will be more suitable in terms of durability and manufacturing. Currently, these coins are made from an alloy of bronze and aluminum, but starting next year, they will be replaced with steel coated in bronze. This marks an important step in modernizing the country’s monetary system. The change in materials has practical implications. The current alloy can be costly to produce and less efficient in terms of durability, affecting the lifespan of the coins in circulation. By opting for steel coated in bronze, the new coins are expected to be more resistant to wear, which could prolong their use and reduce minting costs in the long term. Despite these changes, there are concerns about the future of the 1, 2, and 5 peso coins. However, it is important to clarify that this transformation does not mean that the current coins will be discontinued. The decree makes it clear that, while new versions are introduced, the coins currently in circulation will remain valid and retain their purchasing power. Therefore, citizens need not worry about the loss of value of their coins. The responsibility for designing the new coins will fall to Banxico, which will need to initiate a creative and technical process to ensure that the new pieces meet the required standards of quality and functionality. Once the design is approved, it will be the Mint that handles their production, thus ensuring that the tradition and visual identity of the Mexican coinage are maintained. It is important to highlight that this change in the composition of the coins is not an isolated phenomenon. Globally, many countries are reviewing their physical currency to adapt to changes in the economy and consumer preferences. Digitalization and the rise of electronic transactions have led many nations to reconsider the necessity and design of their cash. Furthermore, the implementation of new lower denomination coins aligns with the Mexican government's efforts to promote financial inclusion and facilitate the everyday transactions of citizens. As the country moves towards a more modern financial system, it is crucial that the coins in circulation reflect the needs of the population. The change in minting the 1, 2, and 5 peso coins can also be seen as an opportunity for financial education. Citizens will need to familiarize themselves with the new coins and understand their value and composition, which could result in greater interest in economics and personal finance. In summary, Banxico's announcement regarding the modification of the 1, 2, and 5 peso coins marks a milestone in Mexico's monetary history. Although the transition promises to be a significant process, citizens can rest assured that their current coins will remain valid. With this initiative, the country not only seeks to modernize its currency but also to adapt to a changing economic environment and the needs of its population.