5 pesos 1914
Market Prices
About This Note
This is a Series C 5 pesos note from Banco de Hidalgo, issued between 1902-1914, printed by the American Bank Note Company. The note displays the characteristic ornate design typical of Mexican regional banks of this era, featuring a monument vignette on the obverse and a landscape scene on the reverse executed in fine line engraving. The specimen shows evidence of age-appropriate patina and systematic perforation marks consistent with cancellation, placing it in the UNC grade despite these historical markings; the note is notable for its intact condition and well-preserved engraved details across both sides.
common. The eBay market data provided shows multiple examples of this note in UNC condition trading in the $120-$295 USD range, with a median price around $170 USD, indicating steady collector demand but regular availability. Series C notes from this 1902-1914 issue period appear frequently enough in the market to be classified as common. The presence of systematic cancellation perforations (marked 'AMORTIZADO') suggests these notes were officially retired and punch-marked, which actually increased their survival rate as they were removed from circulation and preserved. No evidence from Pick catalogs or market data indicates restricted print runs or high scarcity for this specific Pick number.
Banco de Hidalgo issued this note during a tumultuous period in Mexican history—the year 1914 marked the height of the Mexican Revolution, a time when regional banks still issued their own currency. The central vignette depicting a monument to Miguel Hidalgo y Costilla, the father of Mexican independence, and the mining scene on the obverse reflect Hidalgo state's dual importance as both a historical and economic center, with Pachuca serving as a major silver mining hub. The note's design, produced by the prestigious American Bank Note Company, represents the international standards and security printing practices employed by Mexican financial institutions before centralization of currency production.
The obverse features an ornate border with geometric and floral patterns framing the composition. The central upper vignette depicts the Monument to Miguel Hidalgo, rendered with fine architectural detail showing crenellations and a landscaped base with flowers. To the right is a vignette representing miners or laborers engaged in industrial work, reflecting Hidalgo state's mining heritage. Decorative rosette patterns flank the central monument on both sides, with large denominal numerals (5) positioned in ornamental cartouches left and right. The reverse presents an all-red engraved design featuring a prominent central oval vignette depicting the landscape or valley view of Pachuca, with 'Banco' and 'De Hidalgo' appearing on banners above and below. The overall design employs the full palette of early 20th-century security printing aesthetics—fine line engraving, intricate borders, and vignette compositions designed to prevent counterfeiting.
FRONT SIDE: 'El Banco de Hidalgo' (The Bank of Hidalgo), 'Pachuca' (city name), 'Cinco Pesos' (Five Pesos), 'Pagará al Portador, a la vista, en esta ciudad, en efectivo' (Will pay to the bearer, on sight, in this city, in cash), 'Serie C' (Series C), 'No. 10935' (Serial number), 'Gerente' (Manager), 'Consejero' (Counselor/Board Member), 'American Bank Note Company, New York.' BACK SIDE: 'Banco de Hidalgo' (Bank of Hidalgo), 'American Bank Note Company, New York.' - The inscriptions collectively identify the issuer, denomination, series, promise-to-pay clause typical of bearer notes, and the security printer.
This note was produced using intaglio engraving (line engraving) by the American Bank Note Company of New York, as identified by the printer's imprint on both sides. The obverse employs black and gray engraving on an orange and pale green underprint, while the reverse uses red/pink engraving on a cream base. The multi-color printing visible in the underprints indicates the use of separate printing passes or plates, a hallmark of high-security currency production of the era. The fine line work, ornate vignettes, and geometric patterns were all executed through intaglio techniques to provide anti-counterfeiting security.
This specimen is identified as Pick S305d (Series C variety). The visual analysis confirms Series C designation visible on the note itself. The serial number range visible (No. 10935, 109351) indicates this is from the later portion of the issue run. The systematic perforations marked 'AMORTIZADO' (cancelled/amortized) represent a significant variety characteristic—these cancellation marks indicate the note was officially retired from circulation, which is a specific feature of this issue that distinguishes it from unperforated examples. Series A and B varieties of this design may exist with different vignettes or color schemes, but this Series C with the specific design elements described (Monument to Hidalgo, miners, Pachuca valley) represents the cataloged Pick S305d variety.
