"The note, which features a depiction of Gorda as the model for Mexico's iconic species of salamander, went into circulation in 2021, dazzling the judges of the International Bank Notes Society, who declared it the Note of the Year. Four years later, the Bank of Mexico has released a report revealing that 12.9 million Mexicans are holding on to this note as if it were worth more than just its value of 50 pesos, or a little under $3."
"Indeed, millions of them are hoarding more than one. Only a minority said they would not contemplate spending the notes. Nonetheless, the survey found that roughly $150m worth of them were at least temporarily out of circulation at the time. Some of the first to be printed are even being traded for 100 times their intended value. All of this is specific to the axolotl banknote: only 12% of those holding on to it said they did the same for other notes."
Gorda, an axolotl in a Mexico City museum, became the model for Mexico's 50-peso banknote released in 2021. The banknote won the International Bank Notes Society's Note of the Year. A Bank of Mexico report finds 12.9 million Mexicans are holding the note, many hoarding multiple copies, with roughly $150 million temporarily out of circulation. Some early prints are traded at up to 100 times face value. Only 12% of hoarders do the same with other notes, and most cite the design as their reason. Axolotls are a uniquely Mexican symbol, historically native to Lake Texcoco and associated with Aztec culture.
Read at www.theguardian.com
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