50 Pesos

This series spans a transitional moment in Banco de México's printing history — the cotton paper 50 Pesos issues of this period were being progressively phased out in favor of polymer substrate notes, with the polymer 50 Pesos entering circulation in 2004. The sheer number of signature combinations here, ten across three print dates, reflects the unusually high turnover among deputy governors during the early years of Guillermo Ortiz Martínez's tenure as Governor.

The November 2003 date introduces a new Cashier signatory — Hernández Barba replacing Sierra Otero — making that combination the scarcest of the run. Collectors routinely overlook signature variety on this type.