Question about Libertads in Mexico
 

My wife and I will be going for a vacation in Mexico soon. I was thinking about taking a few Libertads with me for the purpose of tipping excellent service. I am hoping that doing so would show an appreciation for the culture of the country we are visiting and also be recognized as an item of value.

Is there anybody that can give me any advice as to this being a good idea or not? For example, I don't think this would work well for a visitor to the US, because most people in the US would look at a silver dollar and think, "It's just a dollar." However, we have been to Mexico one time before and haggling / bartering seemed to be very common, which leads me to believe the common probably has an intuition for the "street value" of a wider variety of items.

Re: Question about Libertads in Mexico
 

Be careful you don't get robbed or kidnapped.

I wouldn't travel to Mexico on a bet with all the crime, corruption, and tremulous discord towards America and Americans because in past years we "stole" more than half their country...and they want it back (and IMO will get it back through the ballot box in the not too distant future, or at least that's the at-work plan).

Private sector and different level government thugs are the people who are seemingly in control.

Re: Question about Libertads in Mexico
 

From what I saw in Mexico ( early '80s ) the people are well aware of coins.

Apparently " Hugo Salinas Price " owns Grupoelectra has 1,000�s of hardware/dept stores in Mexico called Elektra, in some way.

Wish I had known that back in the '80s .

In the back of each store is a small bank called BancoAzteca that does loans/credit cards.

One can go in and buy OR sell silver Libertads at the going silver spot +/- his spread.

So it seems that in any city in Mexico you could walk in with some Lib�s and get some spending cash.

http://www.bancoazteca.com.mx/Portal.../beneficios.do
www.elektra.com.mx/elektra/
http://www.plata.com.mx/plata/articu...iidarticulo=75

Re: Question about Libertads in Mexico
 

Spent Xmas in Guadalajara. Don't tip the Libertads. It is more normal not to tip in Mexico at all. To offer a tip is strictly American, but a silver ounce coin is an outrageous tip.

If you want some silver Libertads while in Mexico, whether you tip with them or not, they can easily be had. Most of the money exchanges will silver a variety of Mexican silver coins. Mostly they will be a little bit over what you would get through APMEX, so don't plan to back the truck up. The Mexicans buy them one or two at a time.

Re: Question about Libertads in Mexico
 

I have some libertads and their beaurifull coins, you cand find some dealers in most big cities that wont charge you too much over spot.

As for tipping dont think that mexicans are stupid, give the regular 10/15 % as if you where in any other north american place but dont give libertads , because waiters are fiat lovers and wont necesssarely scream of joy when they see a silver oz.

http://www.pandaamerica.com/details....grp=1&categ=11

Re: Question about Libertads in Mexico
 

Thanks for the replies. As for the advice that you can buy Libertads there for a little over spot, I will have to keep my eye out for sure.

Re: Question about Libertads in Mexico
 

VegasJay, I know Guadalajara and Mexico in general well, I travel there frequently. Tipping is customary in all of Mexico at 15%. I think if you gave anyone there a Libertad as a tip it would be well appreciated. And unless you're planning to stroll through the poorest areas of Mexico City holding a transparent plastic bag full Libertads, I don't think you'll run into any trouble at all; people are quite friendly.

JMO

Re: Question about Libertads in Mexico
 

Most Banco Aztecas don't even stock any Libertads, and if they have any, usually just a few. They only deal with the 1 oz. version. They usually sell them for around 3 dollars over spot. Not worth it in my opinion. I stick with the older ones that I've purchased for $.50 over spot here in the USA. At current silver prices with the current exchange rate, you're better off getting some currently-circulating 100 Peso coins, which are now going for roughly the current spot price per ounce of silver. However, their numismatic mark-up is much greater per ounce than the Libertad. They typically go for around 17 dollars per individual coin these days on ebay, or close to 30 per ounce. You also get the bonus of fiat backing, which can potentially protect you in the event of deflation, while the .54 oz. troy silver per coin will protect you on the inflation side. At least half the banks tend to have some, and most HSBC banks tend to have 1 or 2 bags of 50 coins stashed away in the back.

Re: Question about Libertads in Mexico
 

Here's the current prices for libertads at Banamex (shitibank owned). You generallyhave to go to a major branch to find them in stock I think.

http://www.banamex.com/eng/finanzas/...as_metales.jsp

Also be aware that when gold/silver prices go up, they adjust the rates quickly, but when they go down, it's usually a week or so before they change them. :)

Re: Question about Libertads in Mexico
 

Thanks much for the additional info.

The area we are going to is Mazatlan (we also went there last year). Certainly where we are staying at, tipping is customary. It's a hotel in a resort area and it very much caters to tourists from the US. Everybody on the staff spoke English and most spoke it very well. My wife and I really felt like the people working there really went out of their way to make our week of vacation a week in paradise. I just want to show my appreciation in a way that will be appreciated. Sure, I could leave them extra big tips in FRNs, but that has no sentimental value to me and not to them either.

However, I still have a Susan B. Anthony dollar that a customer gave me back when I was a waiter. Sure, it's not worth anything, but I like coins and this particular one was the first that I had ever seen outside of a coin book.

Re: Question about Libertads in Mexico
 

Don't forget to tip American waitresses with American Eagles.