1 Peso El Banco de Hidalgo

The Banco de Hidalgo operated out of Pachuca under the concession system established by Mexico's 1897 banking law, which granted regional monopoly rights to state banks in exchange for strict reserve requirements. By 1914, that entire framework was collapsing — the Revolution had destabilized federal oversight, and many provincial banks were issuing notes well beyond their legal backing. Whether this particular emission respected those limits is doubtful.

ABNC's involvement was common among the better-capitalized Mexican state banks before the revolutionary period severed normal commercial relationships with foreign printers. After 1914, reordering from New York became effectively impossible.