10 Pesos El Banco de Hidalgo

Banco de Hidalgo was one of the regional banks chartered under Mexico's 1897 Ley General de Instituciones de Crédito, which attempted to rationalize a chaotic patchwork of state-level note issuers. The bank operated out of Pachuca, serving a region whose economy ran heavily on silver mining — which gave local paper currency a perpetually uneasy relationship with the public, who knew exactly what the metal was worth and viewed notes with corresponding skepticism.

The long issuance window ending in 1914 reflects the revolutionary disruption that ultimately killed Mexico's entire private banking system. Carranza's 1915 decree voided the notes of all such banks, and unredeemed examples were common.