500 Pesos

The 500-peso denomination has historically been one of the most counterfeited in the Mexican series, which drove Banco de México to bring production of several high-value notes fully in-house rather than contract abroad. Printing at the bank's own facility in Mexico City gives it direct control over security specification and ink sourcing — an unusual degree of vertical integration for a central bank of this size.

Cotton substrate and a security thread place this squarely in the transitional window before Mexico's broader shift toward polymer for circulating denominations, a program that accelerated after 2018 for lower values but stalled at the higher end.