Banco de México (Private) Currency & Banknote Values

The Greysheet Catalog (GSID) of the Banco de México (Private) series of Mexico in the World Currency contains 8 distinct entries with CPG® values between $900.00 and $3,500.00.

On 16 May 1854, congress adopted a Code of Commerce in the first serious attempt to regulate financial institutions in Mexico. A petition dated 1 July 1857 was presented to President Ignacio Comonfort to establish a commercial bank in Mexico City to be called Banco de México (Bank of Mexico, MEX), which was to be privately owned with 5 million pesos capital, and operate as a bank of deposit, discount, and emission. Although a legislative decree was passed, the project did not progress for unknown reasons and the bank never opened.

On 2 January 1864, congress authorized the establishment of a different privately-owned bank of deposit, discount, and emission, also called Banco de México. It was to have a capitalization of 10 million pesos and the exclusive right to issue currency.

On 10 April 1864, Austrian Archduke Ferdinand Maximilian, of the House of Habsburg, was named Emperor Maximilian I of Mexico. He refused to sanction the grant of charter to Banco de México. While they share the same name, this institution is in no way related to the country’s current note issuer. The Second Mexican Empire was widely considered a “puppet” regime of France and survived only until 19 June 1867.