5 pesos 1903

Common. The eBay price data shows numerous examples in circulation, with most UNC specimens trading between $144.99 and $450.00 USD, and unknown condition examples ranging from $39.99 to $139.99. The broad price range suggests significant availability of this issue. As a regional Mexican bank issue from a relatively large bank operating during a period of numerous similar note emissions, and given the multiple specimens appearing on market, this Pick number appears to be readily obtainable. The VF condition grade of this specific note places it well within the normal circulation range for the issue.

Banco Peninsular Mexicano was a regional Mexican bank operating during the early 20th century, a period when numerous private and regional banks issued their own currency under federal authorization. The prominent steam locomotive depicted on the obverse reflects Mexico's late 19th and early 20th-century industrial development and railway expansion, key symbols of modernization during the Porfiriato era. The overprinting dates (29.6.1901 and 1.10.1903) suggest this note was reissued or restamped, possibly reflecting regulatory changes or bank reorganization during this economically dynamic but politically turbulent period in Mexican history.

The obverse features a striking circular vignette depicting a steam locomotive positioned at the left side, symbolizing industrial progress and railway development in Mexico. The center contains ornate baroque-style decorative elements with the denomination and issuing authority text. The reverse displays a predominantly red design centered on a large circular medallion containing the numeral '5' surrounded by elaborate wreathing and scrollwork, with the word 'BANCO' prominently displayed above. Both sides showcase fine-line intaglio engraving with intricate border patterns, repeating geometric and floral motifs, and numerals '5' positioned in the corners. The overall design reflects the late 19th-century banknote aesthetic favored by American Bank Note Company. The red overprint 'SOBREIMPRESO' across the obverse is a cancellation or re-issue marking applied in a contrasting color, indicating this specific specimen represents a restamped or revalidated emission from October 1, 1903.

OBVERSE: 'EMISIÓN' (Emission/Issue), 'PAGARÁ' (Will pay), 'No 173530' (Serial number), 'Cinco Pesos' (Five Pesos), 'SOBREIMPRESO' (Overprinted), 'Á LA VISTA AL PORTADOR EN EFECTIVO' (At sight to bearer in cash), 'EL DIRECTOR' (The Director), 'EL INTERVENTOR' (The Auditor/Inspector), 'DE CAJERO' (Of Cashier), 'SERIE HC' (Series HC), 'American Bank Note Co. New York' (American Bank Note Company, New York). REVERSE: 'BANCO' (Bank), '5 PESOS 5' (5 Pesos 5), 'CINCO PESOS' (Five Pesos), 'AMERICAN BANK NOTE COMPANY, NEW YORK' (American Bank Note Company, New York).

Intaglio (engraved) printing, characteristic of high-security banknote production by American Bank Note Company of New York. The fine-line engraving, intricate border work, detailed locomotive vignette, and complex geometric patterns are all consistent with traditional intaglio processes. The red overprint appears to have been applied via a secondary printing operation, likely lithography or additional intaglio work, applied after the initial note production.

This specimen is identified as Pick S458a, representing an overprinted variety (marked 'SOBREIMPRESO') of the base design. The overprint dates visible are 29.6.1901 and 1.10.1903, with the latter date matching the catalog year. The series designation 'HC' and serial number '173530' are recorded on this specimen. The reference indicates this is an overprint on the #S467 design, making it a distinct variety from the original unoverprinted emission. The catalog designation 'S458a' with the 'a' suffix likely indicates this is the first known overprinted variety of this design.