10 pesos 1897-1903
Market Prices
About This Note
This is a 10 pesos banknote from Banco Yucateco (not Peninsular Mexicano as cataloged), issued during the 1897-1903 period and printed by the American Bank Note Company. The note exhibits classical allegorical engravings featuring a helmeted female head (Minerva), a seated female figure with caduceus symbolizing commerce, and an eagle, rendered in brown and tan tones on the front with green coloring on the back. In Fair condition, the note shows significant age-related discoloration, foxing, and a vertical center crease from circulation, with an evident red overprint of 'BANCO YUCATECO' across the center.
Common. The eBay market data shows prices ranging from $9.98 to $1,099.00 USD depending on condition, with most circulated and moderately preserved examples selling in the $60-$200 range. The note in Fair condition would typically command approximately $100-$150. Regional Mexican banknotes from this era were issued in substantial quantities, and while individual notes may have historical interest, they are not scarce in the broader numismatic market. The catalog pick number designation and wide availability of pricing data confirm this is a standard, regularly-encountered issue.
This note represents the banknote-issuing practices of Mexican regional banks during the Porfiriato era (1876-1911), when private banks issued their own currency under government authorization. The allegorical imagery—Minerva representing wisdom and the caduceus-bearing figure representing commerce—reflects late 19th-century Mexican progressive ideals and economic aspirations. The prominently displayed 'American Bank Note Co. New York' credit indicates Mexico's reliance on sophisticated foreign security printing during this period of modernization.
The obverse features a classical allegorical composition with Minerva (the helmeted female head on the left) representing wisdom and state authority, a seated female figure in the center holding the caduceus (symbol of commerce and prosperity), and an eagle on the right symbolizing national sovereignty. The denomination '10' appears in ornamental squares at the lower left. The reverse displays a highly symmetrical design with the number 10 in decorative corner cartouches, elaborate geometric and floral borders, and a central ornamental arrangement with 'BANCO YUCATECO' text positioned on either side. Both sides employ fine-line engraving with complex interlocking patterns characteristic of American security printing of the period.
Front side: 'BANCO YUCATECO' (Yucatecan Bank), 'MERIDA' (place of issue), 'Diez Pesos' (Ten Pesos), 'A LA VISTA' (On Demand), 'AL PORTADOR EN EFECTIVO' (To Bearer in Cash), 'Nº 03869' (Serial number 03869), 'SERIE CA' (Series CA), 'EL INTERVENTOR' (The Auditor), 'LE CAJERO' (The Cashier), 'LE DIRECTOR' (The Director), 'American Bank Note Co. New York'. Back side: 'BANCO YUCATECO' (Yucatecan Bank), 'DIEZ PESOS' (Ten Pesos), 'AMERICAN BANK NOTE COMPANY, NEW YORK'.
Steel plate engraving, executed by the American Bank Note Company of New York. The note exhibits the hallmarks of high-security banknote production: multiple portrait engravings, intricate geometric and floral border patterns, complex allegorical scenes, and fine-line work throughout. The color scheme employs black on green and yellow underprint on the obverse, with dark green dominating the reverse. No evidence of lithography or other printing methods; this is pure intaglio/engraved work.
This note is cataloged as Pick S459c, indicating it is the third known variety (suffix 'c') of this 10 pesos Banco Yucateco issue. The visual analysis identifies Series CA and serial number 03869; regional Mexican banks typically produced multiple series with different prefixes. The red 'BANCO YUCATECO' overprint visible across the center may indicate a subsequent authorization or bank consolidation overprint applied after initial printing. The note shows characteristics consistent with the 1897-1903 issue period for this bank. Specific variety identification would require comparison with other documented series prefixes and overprint states for this Pick number.
