Stack's Bowers & Ponterio
January 2023 NYINC Auction 13-16 Jan 2023
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MEXICO. Banco de Londres Mexico y Sud America. 10 Pesos, ND (1865-67). P-Unlisted. M236s. Specimen. PMG Uncirculated 62.
Unknown printer. Believed to be unique. The London Bank of Mexico and South American was originally formed as Bank of Mexico, LTD by a British Firm in 1864. Operations were expanded to include Peru, Columbia, Venezuela, and Chile so the name was changed to Banco de Londres Mexico Sud America. The bank opened its doors in August of 1864 and issued paper money, promissory notes, along with opening checking accounts. Fifteen agencies were in operation by 1865 throughout the Republic of Mexico, with two located outside of Mexico (British Columbia and Cuba). The first issues of notes for 1865 were limited in quantity (for example, only 1,400 5 Peso notes were issued). After the death of Emperor Maxmilian and the restoration of the Republic, rigorous restrictions were placed on the bank under the new Code of Commerce, but the bank was able to stay in business by acquiring the Commercial Bank's charter. The name was changed in 1889 to Banco de Londres y Mexico, and issued paper money until 1914.
Unknown printer. Believed to be unique. The London Bank of Mexico and South American was originally formed as Bank of Mexico, LTD by a British Firm in 1864. Operations were expanded to include Peru, Columbia, Venezuela, and Chile so the name was changed to Banco de Londres Mexico Sud America. The bank opened its doors in August of 1864 and issued paper money, promissory notes, along with opening checking accounts. Fifteen agencies were in operation by 1865 throughout the Republic of Mexico, with two located outside of Mexico (British Columbia and Cuba). The first issues of notes for 1865 were limited in quantity (for example, only 1,400 5 Peso notes were issued). After the death of Emperor Maxmilian and the restoration of the Republic, rigorous restrictions were placed on the bank under the new Code of Commerce, but the bank was able to stay in business by acquiring the Commercial Bank's charter. The name was changed in 1889 to Banco de Londres y Mexico, and issued paper money until 1914.
Notes from this issuer are next to impossible to find, with the Mexican Paper Money book reporting only one issued note is known to collectors (a 10 Pesos from the third series printed by BW&C). It is also rumored that a issued 5 Pesos note in issued (but cancelled) form is known to survive. This specimen is believed to be unique, and will surely fill a void in even the most extensive collection of Mexican paper money. PMG comments "Previously Mounted, Small Tears".
Estimate: $10000 - $15000