10 pesos 1908
Market Prices
About This Note
This is a VF-grade 10 pesos banknote from Mexico's Banco Nacional de Mexico, issued January 1, 1908, representing the later printings of this long-lived 1885-1913 series. The note displays the characteristic yellow and blue underprints with fine engraved portraits and allegorical scenes typical of American Bank Note Company production. Despite over 116 years of age, the note retains good eye appeal with visible creasing, foxing, and aged patina consistent with circulation, while the ornate borders and red 'PAGARÁ' stamp remain relatively distinct.
Common. eBay market data shows consistent pricing in the $25-$135 range for circulated examples, with most VF-XF specimens trading between $25-$95 USD, indicating steady supply and steady collector demand without scarcity premium. This note had an extended print run across 1901-1908 and saw circulation throughout Mexico's banking system, resulting in numerous surviving examples. The serial number 371877 suggests mid-range production sequencing, further consistent with common-date status.
Issued during the final years of Porfirio Díaz's presidency (1876-1911), this banknote reflects Mexico's modernization efforts and confidence in institutional banking. The prominent depiction of the National Bank's neoclassical building on the reverse symbolized the stability and progress associated with Díaz-era development, while the classical allegorical figures on the obverse (representing prosperity and commerce) reinforced the regime's vision of Mexico as a modern, civilized nation engaged in international trade.
The obverse features a woman's portrait in profile (facing left) within a circular medallion on the left side, identified as M. García Teruel per catalog data. The central composition depicts classical allegorical figures (representing 'Tropics No. 2' per the catalog reference) in a landscape setting with neoclassical architectural elements, arranged as a seated female figure surrounded by standing attendants in classical drapery. The reverse showcases the Banco Nacional de Mexico's monumental neoclassical headquarters building depicted from street level, with prominent columns, arches, and multiple stories, framed by elaborate ornamental borders featuring shell motifs and geometric scrollwork. Denomination indicators '10' appear in ornamental frames at corners on both sides. The red circular 'PAGARÁ' (promise to pay) stamp is a characteristic feature of this series' security measures.
Front side: 'BANCO NACIONAL DE MEXICO' (National Bank of Mexico) / 'PAGARÁ LA VISTA AL PORTADOR EN EFECTIVO' (Will pay at sight to bearer in cash) / 'DIEZ PESOS' (Ten Pesos) / 'MÉXICO' (Mexico) / 'Enero 1º de 1908' (January 1st, 1908) / 'SERIE' (Series) / '371877' (Serial number) / 'Compañia Americana de Billetes de Banco Nueva York' (American Bank Note Company, New York). Back side: 'BANCO NACIONAL DE MEXICO' (National Bank of Mexico) / 'AMERICAN BANK NOTE COMPANY, NEW YORK' (printer identification) / '10' (denomination markers in corners).
Intaglio engraving (line engraving) on safety-paper stock, as produced by the American Bank Note Company (ABNC). The fine detail work visible in the allegorical figures, architectural rendering, and ornate border designs, combined with the layered underprints (yellow on obverse, blue on reverse), indicates traditional high-security banknote engraving techniques. The serial numbering and red overprinted stamp were applied post-press.
This specimen is identified as Pick P-S258d, the later printing variant (dated January 1, 1908) of the 1885-1913 series. The catalog reference indicates printer credit line 'ABNC. 1.7.1901-1.1.1908' and archive number BK-DF-218, establishing this as part of the final authorized printing run under the original design plates. Serial number 371877 places it within typical circulation-issue numbering. No overprints beyond the standard red 'PAGARÁ' stamp are evident, indicating this is an unmodified regular-issue example rather than a scarcer emergency or special-purpose variant.
