1 peso 1914
Market Prices
About This Note
This is an exceptional example of a 1 Peso note from Banco de Hidalgo (1914, Pick S304b), graded UNC. The obverse features an impressive industrial/mining scene with ornate columns and multiple workers rendered in black on yellow-green underprint, while the reverse presents a formal portrait in gray tones—both sides display the crisp, detailed engraving characteristic of ABNC production. The note remains in pristine uncirculated condition with no wear, making it a desirable example of Mexican regional banking currency from the Revolutionary era.
Common. eBay price tracking data shows UNC examples selling in the $42.99–$62.99 USD range, with numerous sales across multiple condition grades (F, VF, UNC, and circulated examples) ranging from $7.50 to $499.95. The consistent availability and moderate pricing indicate this is a regularly encountered note in the collector market. Banco de Hidalgo issued multiple series, and this P-S304b variant with ABNC printing was produced in sufficient quantity to remain common today.
Banco de Hidalgo was a regional Mexican bank that issued currency during the tumultuous Mexican Revolution, when many regional banks operated under government license. The prominent industrial and mining imagery on the obverse reflects Hidalgo state's economic foundation in mining operations around Pachuca, a major silver-mining center, while the formal portrait on the reverse represents the bank's leadership. This note exemplifies the period when regional Mexican banks maintained currency-issuing privileges before centralization under the national banking system.
The obverse features a magnificent central vignette depicting an industrial mining or factory operation with ornate neoclassical columns, multiple workers, and elaborate architectural lighting elements—symbolizing Hidalgo's mining prosperity. The denomination 'UNO' appears in decorative cartouches on both left and right margins. The reverse showcases a formally dressed bearded gentleman in an ornamental oval medallion, flanked by heraldic eagle emblems and scrollwork, representing the bank's authority and prestige. Both sides employ fine cross-hatching and parallel line engraving throughout as anti-counterfeiting measures. The color scheme of yellow-green and black on the obverse contrasts with the gray and black reverse design.
Front Side: 'EL BANCO HIDALDO' (The Hidalgo Bank), 'PACHUCA' (city of issue), 'UNO' and 'UN PESO' (denomination), 'EN ESTA CIUDAD, A LA VISTA, AL PORTADOR, EN EFECTIVO' (In this city, on sight, to the bearer, in cash), 'SÉRIE A' (Series A), 'INTERVENTOR DEL GOBIERNO' (Government Interventor), 'GERENTE' (Manager), 'CONSEJERO' (Counselor), 'American Bank Note Co. New York' (printer attribution), Serial Number 'NO. 211449'. Back Side: 'BANCO DE HIDALGO' (Bank of Hidalgo), 'AMERICAN BANK NOTE COMPANY, NEW YORK' (printer attribution).
Intaglio engraving produced by American Bank Note Company (ABNC), New York. The note displays the characteristic fine parallel line patterns (cross-hatching), intricate vignette work, and detailed ornamental borders typical of late 19th and early 20th century security printing. The crisp impression and sharp detail throughout indicate professional bank note production at ABNC's facilities.
This note is catalogued as Pick S304b, the ABNC-printed variant. PMG records three variants for this base number (P-S304a, P-S304b, and P-S304s), with P-S304b specifically attributed to American Bank Note Company printing. The note is Series A as indicated on the obverse. The observed serial number is 211449. No overprint of 'AMORTIZADO' (cancelled) is visible on this particular specimen, though the reference catalog notes that variant exists.
