Currency of the Nacional Monte de Piedad

M692r, from the San Dimas Collection

ten pesos

The Nacional Monte de Piedad was not, strictly speaking, a bank, but a charitable pawn shop established by royal charter in 1774. Its operations evolved and in 1879, it was authorized to issue "Certificates of Deposit". Proofs were printed and remainders exist of denominations of one thru one thousand pesos. Only the one and five pesos are known in issued form and these are rare. The Monte was mismanaged and the government was forced to bail it out in 1884, at which time its right to issue notes was revoked.

Recorded issue: unknown.

Catalog reference: Frampton M692r, 182 x 80 mm.

Source:

• Frampton, Cory, Duane Douglas, Alberto Hidalgo and Elmer Powell, Mexican Paper Money, 2010 Edition, Carefree, AZ: Mexican Coin Co., 2010.

Links:

• return to Currency of Mexican private banks, to 1915
• Coins and currency dated 1882