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ColonialCoinsUK

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Journal Entries posted by ColonialCoinsUK

  1. ColonialCoinsUK

    Impossible - 2023 June

    By ColonialCoinsUK,


    Central & South America
    As my username is Colonial Coins UK and as my interests moved beyond the UK I started collecting coins of the British colonies, however the corresponding banknotes were beyond my reach, even more so than some of the coins.  As the ‘Impossible Set’ for Latin America does include a few of these former colonies a note from Belize (formerly British Honduras) and a couple of examples from British Guiana have been added this month removing the ‘No notes’ label. Reading up on the history of Barclays Bank was fascinating as it is still one of the major banks here in the UK.


    Some other countries were also classed as ‘No notes’ so a couple of notes for Costa Rica and a couple for Ecuador have now also made it into the Set. The more I discover about the struggles of independence from Spain, the key Figures involved and the ever-changing names and boundaries of the various territories the more absorbing it is, and for some countries the search for stability is still ongoing 200 years later.

    The last two notes this month are from the former Dutch colony –  Suriname. These are not the first examples as the Centrale Bank van Suriname was already represented. An example of the World War II Zilverbon issue to combat hoarding of silver coin and the post-war Muntbiljet notes from the Dutch Administration.

    The Set is now upto 45 notes so still a very very long way to go


    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list  
     
     
  2. ColonialCoinsUK

    Impossible - 2023 March

    By ColonialCoinsUK,


    Central & South America
    This month all of the notes added are from Mexico, some of which have been covered in other Journal posts as examples for the States of Chiapas, Campeche and Jalisco (‘Chiapas is Mexico State No. 5’, ‘Campeche takes the No. 6 slot’ and for Jalisco ‘The land of Tequila’)

    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list

    The first of the other notes added is the earliest date for the 10 pesos notes issued by the Banco Minero de Chihuahua, a reinvention of Banco Minero during the Revolution, and is dated 9th May 1914. The whole issue ran from Series A29 at S/N 330,001 with a Series change every 2500 notes continuing until S/N 630,000. This note is Series D29 and S/N 339498, so close to end (S/N 340,000) of this initial group. Collecting examples of all of the Series would be a real challenge, and probably much more difficult than searching for die numbers on Victorian sixpences.


     
    Whereas the Series for the Minero note are essentially known the next entry is included in the Set as it represents an unrecorded Series; Z. R. and, for me, just demonstrates that there is still so much to discover. The ‘note’ is a 20 centavos issue from Series 2 for the Gobierno Constitucionalista del Estado Libre y Soberano de Veracruz Llave. This note is also interesting as it is the first pasteboard note in the collection and also the smallest note at 53 × 31 mm.


    Another local issue is represented by a 5 pesos note from L. Guiterrez, Merida, Yucatan. In the late 1800’s there was a shortage of banknotes in Yucatan compromising trade so the major companies based in the capital city, Merida decided to issue their own notes from ~1874, one of these companies was L. Guiterrez Sucesores, established in 1860 and the largest hardware and haberdashers in the State.

    The last note added during March 2023 is another important Revolutionary Issue, a 1 peso note issued by the authority of Gustavo Baz as Estado Libre y Soberano de Mexico, Toluca. Similar to the notes above there is still much to understand about this Toluca Series, particularly related to the S/Ns for different printing runs across all of the denominations. This note is probably from the second printing of Series F as the attribution on the note is in italics.


     
    It is great that this month the Set is back on track, growing by at least 5 notes per month, however every note added highlights gaps in the references and thus seems to generate a completely new area of research.

  3. ColonialCoinsUK

    When is a dog not a dog?

    By ColonialCoinsUK,


    Mexico
    My first Mexican Banco note is a specimen* Tamaulipas 20 Pesos from 1902-1914 (S431s, M522s). As I have now discovered the state of Tamaulipas is on the east coast, bordering Texas and therefore facing the middle of the Gulf of Mexico. Tampico is located in the south east corner of the state and is not only a major port but the largest city, and also where the first branch of the bank was established by the Governor and a group of local business men and as such the back of all the notes in this series reflects the city Coat of Arms.
    Only it doesn't, well not quite!
    The boatman and the land are fine however the two animals in the foreground on the Coat of Arms are otters as Tampico apparently means 'place of the water dogs' in the Mayan derivative language called Huastec, not surprising given the ideal conditions for the species provided by the marshy coastline. However given the reference to 'water dogs' I guess the American Bank Note Company were not paying complete attention and engraved two 'dogs' instead of two otters. They may not be entirely to blame as I assume the Banco de Tamaulipas management also approved of the design although they may have thought the provided 'coat of arms' was enough description. My note is Series H which is the last series for this denomination and was only partly issued from 21st April 1914, due to yet another change of government, so I expect updating the design was not practical at this point as there was a war on!
    Anyone have any further insight?
    *Specimens and remainders seem to be almost the only way to get high grade examples of these earlier Mexican notes as the issued notes were widely circulated, were largely recalled and incinerated, and are therefore usually only found in low grades (Fair to Fine and very occasionally VF).
     
     
     
  4. ColonialCoinsUK

    This time it is Veracruz

    By ColonialCoinsUK,


    Mexico
    Like coins I seem incapable of just accumulating random notes and need to 'organize' them into some form of set. The diversity of Mexican currency during this period means there is great potential for numerous sets, however one obvious set that I have been considering is one note, any note, from each of the 30 states.
    The dos caritas 10 pesos note from my first PMG Journal was issued in Chihuahua so that became State No1 - it appears I have quite a few notes from this large northern state which will no doubt start mulitple other groupings. The next note I mentioned was a 20 pesos note where the otters on the Tampico Coat of Arms seem to have morphed into dogs on the back of the note. This added Tamaulipas as State No2.

    State No3 is going to be Vercacruz, highlighted by this 5 Pesos note (S437s, M528s) issued by El Banco Mercantil de Veracruz from 1899 until 1910, another Specimen note. The 5 Pesos was the lowest, and most common denomination issued by the bank but like many of the original state banks this one didn't survive the revolution when Carranza as the new President cancelled all their charters in an attempt to centralise the banking system. This note shows a seated female figure (representing the city?) on the front with her back to the harbour surrounded by references to the local industries and commerce; mining tools, agricultural products and the train line. The back of the note depicts another view of the docks as Veracruz, like Tampico, is a major port and remains critical to the Mexican economy today although the fortress of St Juan de Ulua could do with some restoration.


    So at February 2022 the Mexican states acquired are:-
    No1: Chihuahua
    No2: Tamaulipas
    No3: Veracruz
    So 3/30 at the moment, only 27 to go, some are going to be difficult, due to both limited availability and/or that they are expensive but it is the challenge and it is striving for completion that keeps us young!
     
  5. ColonialCoinsUK

    A pile of tatty notes

    By ColonialCoinsUK,


    Mexico
    Although these notes are from another Mexican state  - Durango - I am not counting them towards my State set as I do have a specimen note which will fill that slot.
    So why did I buy these well-circulated notes when 'quality' is a key element in any collection? A major goal in my coin collecting has always been the search for die varieties and it appears I have now suffered the same fate with banknotes.
    The seller's picture just highlighted a pile of tatty banknotes however the code letters were visible for a few of the notes, MA-A was known for the issue whereas UGT was not and I couldn't resist seeing what else might be lurking there.
    So having spent a few pleasant hours working out what I had the summary is:-
    Of the known control letters, MA-A, LPS, ERO-, GFA etc the first two were there however OIY (vertical), UGT, ERA-, MIR, EID, L-AR (vertical), GON and ITE (vertical) were new which can now be added to the list. Another aspect that banknotes usually have that coins don't is numbers! These pretty much covered the whole issue (proposed to be 100,000 notes) running from 3033 to 96229 extending the know range quite a bit. This set of notes also confirmed that the same code letters were used for different sets of numbers (in groups of 2000?) and as a result I think also suggests the pattern for how the codes changed.
    If anyone has any notes from Series E (or any of the others for that matter) it would be great to know what the numbers/codes are to see if they fit in with my proposed system or whether I have to go back to the drawing board!
     
  6. ColonialCoinsUK

    Mexico State No. 4

    By ColonialCoinsUK,


    Mexico
    The quest towards a note from each of the Mexican States continues and I am now able to add Guerrero as State No.4, the list so far:-
    1   Chihuahua
    2   Tamaulipas
    3   Veracruz
    4   Guerrero

    Guerrero is in the southwest of Mexico and is named after Vicente Guerrero Saldana (the chap on the front) who, having joined the Mexican revolutionary forces in 1810, progressed to the rank of General with control of the southern forces. As a result he played a key role in Mexico gaining her independence from Spain in 1821 and went on to serve in the provisional government which was established in 1823 following Agustin de Iturbide's failed attempt at the introduction of a monarchy. Later on in 1829 he became President, with his most notable achievement being the abolishment of slavery in Mexico. This office proved shortlived as he was deposed by his vice president Anastasio Bustamante, subsequently captured and executed by firing squad in 1831.
    My note is a 50 pesos, printed by the ABNC, for the Banco de Guerrero which is the only 'Banco' for the state which began operations in 1906 with its first branch in Iguala, My note is cancelled with a needle punched 'AMORTIZADO' and it seems to be common for the Guerrero issues that the tops of the letters are missing - I guess they couldn't be bothered to fix the punch.  It is a Series B note which was printed in 1914  and it appears that serial numbers 10001 to 14000 were issued yet the remainder of the run 140001 to 20000 was not, no doubt due to yet another revolutionary war. Liquidation of the bank, and many others, followed in 1921.
    The back of the note is a scene overlooking the largest city and major port of Acapulco - which entered popular culture as the playground of the rich and famous and the only place I was aware of in the State, sadly, this appears to be no longer the case.
    Examples of the 5, 10, 20 and even the 100 pesos notes are also available as remainders with issued notes being much more scarce, a 500 pesos issued note is a 'holy grail' item - anybody have one?
     
     
    Standard Catalog of World Paper Money. Specialised Issues 12th Edition.
    Mexican Paper Money 2017
    Papermoneyofmexico.com (usmex.org)
    Flag of Guerrero: https://commons.wikimedia.org/w/index.php?curid=7551425
     
  7. ColonialCoinsUK

    Slippery slope

    By ColonialCoinsUK,


    El Salvador
    When I started collecting coins I was drawn to the discovery of new varieties as I found this fascinating, more so as it turned out that the standard reference books for world issues don't usually contain much, if any, information concerning such details. It transpires that the situation is much the same for medals.
    So, having recently added banknotes to my collection it rapidly became apparent that 'paper' was no different and records concerning Series, control letters, dates, signatures etc was surprisingly difficult to come by for some issues. (See my Journal posts on some Mexico Revolutionary issues  'A pile of tatty notes' which highlighted control letters on Durango notes and 'It's made of paper' which mentioned the Chihuahua dos caritas series).
    I have also acquired quite a few Latin American notes beyond Mexico as the fortunes of individual countries are intimately linked to those of the wider region. Compared to the intricate designs and vignettes of the early Banco issues I was attracted to the simplicity of this readily available 1 colon note from El Salvador- and not just that it had an extra date on the back  (17-Aug-1973 in this case).

     
    So for a single Pick number (115a) it appears there are different signature combinations, front and back, and multiple series, dates etc with no mention of what these are in the SCWPM issue that I have and El Salvador is one of the several Latin American countries missing from the 2014 Banknote Book volumes. Numista records 24 different dates but these are not linked to the Series letters so this prompted a quick look at auction records etc and it was great that the sequence of Series letters used rapidly became apparent with the serial numbers suggesting 1 million notes per Series for 1972-1977.
    GN - GW
    QA - QJ
    HQ - HZ
    PK - PT
    IA - IJ
    UB - UK
    EF - EO
    RK and RL
    However the examples that I could find were still very limited (26 out of the possible 72) and the situation with the linked issue dates is even worse. Some Series have several issue dates so I wouldn't be surprised if the number of dates was nearer to 100!
    This collecting lark is a very slippery slope as I now have to look at all the other 1 colon issues and also the other denominations. Fortunately this can all be worked out electronically as auction lots now have pictures, and it keeps my wife happy as she says it keeps me out of trouble - it doesn't  .
     
  8. ColonialCoinsUK

    Durango

    By ColonialCoinsUK,


    Mexico
    A previous Journal Entry ‘A pile of tatty notes’ was on the control letters on the El Estado de Durango 5 pesos note however this issue wasn’t going to represent the State of Durango.
    https://boards.pmgnotes.com/blogs/entry/1426-a-pile-of-tatty-notes/

    Durango, State No. 8, is one of the largest states in Mexico, and similar to many without a coastline, has an economy based on mining and the production of a range of agricultural products. Improved transport and communication links rapidly expanded the potential market for goods, increasing production, and to facilitate this new level of commercial activity state banks were established. The Banco de Durango was founded in 1890 and this association is reflected in the vignettes on most of the notes issued, akin to the currency issued by other State Bancos the notes also feature lots of trains.

    However, the selected note for the State is a remainder example of the 1 peso issue (S272r, M331r) which has a shield bearing the State Coat of Arms flanked by Liberty and Concorda (harmony). One of my reasons for selecting this note is actually the design on the back of the note, which reminded me of the, much closer to home, Lady Lavery series issued by the Central Bank of Ireland. The river god (River Lee), on the Irish £1 note, being exchanged for an allegorical female figure representing the State of Durango.

  9. ColonialCoinsUK

    It's made of paper!

    By ColonialCoinsUK,


    Mexico
    Well here I am over at the PMG Journals with my first banknote - a 'dos caritas' 10 pesos from the Mexico Revolution 1910-1920. As my main collection evolved into Napoleonic coins you may ask 'where the *>?^ did that come from?'
    As Napoleon conquered most of Europe my collection of French coins started to also encompass those issued in Italy, Westphalia, Holland and Spain as family members took charge of these territories. The impact of the ever changing European map was felt globally, most notably initiating the collapse of the Spanish Empire, and having started by collecting British small silver I found that I was picking up a few fractional reales from this period with most of the examples being from Spain itself, and Mexico. Due to a preference for 'real money' in the early 1800's there was a lack of 'paper money' so I jumped ahead about a hundred years or so to another turbulent period in Mexico's history - the early 1900's. Not only did I find the often classical designs of the earlier notes issued by the 'Bancos' attractive this was a period I really knew nothing about, the currency was incredibly diverse and rapidly changing across the whole region, and so it was a great opportunity for discovery and to learn something new.
    I realise that this is a common note and you could probably buy the whole denomination set immediately on Ebay but these would be lower grades and/or expensive - one thing collecting coins taught me is that quality (and rarity and preferably both) counts and this top grade note was not much above the grading cost. For anyone who also reads the NGC Journals you will no doubt be aware that one of my passions in coins is the search for die varieties and even for this note there seems to be at least 23 options (not including control letters etc*) with mine# probably the easiest to find in high grade, but you have to start somewhere!
    *Mexican Paper Money 2017 highlights 'the dos caritas series from Chihuahua, are collected by series, control letters and numbers which total in excess of a 1,000 notes'. This is NEVER going to happen.
    #N series with the red scalloped seal, control letters but no date on the back S535a/M924w PMG66EPQ
     
     
     
     
     

  10. ColonialCoinsUK
    My first graded banknote was a 'dos caritos' issued during the Mexican Revolution in Chihuahua and I promised myself that I would not attempt acquiring all the combinations of control letters, dates etc as there are more than a 1000 known.

    As there is always an exception to every rule I had decided that if some of the interesting varieties appeared cheaply then I would snap them up and this note ticks that box.

    It is still a 20 pesos note (S537b, M926f) with black scalloped Treasury seal and a new date/control letter combination (6-10-15; MIN-S) which was nice but it was the extra stamp that drew my attention. During the war the fortunes of the various factions embbed and flowed necessitating the issue of new, territory restricted, currency to pay the troops. The easiest way to do this was to revalidate captured existing notes rather than trying to print new ones and this note is an example of this.

    Postcard depicting Nogales and the US border ca. 1915 (geo-mexico.com).
    The seal was used from 28 May 1915 in Nogales, a small town in Sonora on the border with the US. The stamp is round, in violet ink, with an eagle in centre and ‘SECRETARIA PARTICULAR DEL GOBERNADOR DEL ESTADO DE SONORA’ around the edge. According to papermoneyofmexico.com this revalidation had nothing to do with Secretario Particular and the stamp was used as it was the only one available, there also seemed to be a shortage of ink as it is also known in green, blue and black suggesting issuing currency was critical and they used what ever was lying about..
    Even more interesting are the initials above the MIN-S, these are RM and stand for Remigo Montoya who appears to have been quite a character. As an 'official' currency expert for the neighbouring state of Chihuahua he was arrested just across the border in Tucson, Arizona having been caught stamping $500,000 of potentially counterfeit notes as genuine. During the chaos of war he surprisingly seems to have escaped prison and even retained his tresury job - I am sure the investigation of the counterfitting operation identifying a number of Mexican government officials and influential Sonoran businesman had nothing to do with this.
    I love it that every coin and note is the chance to learn something new.
     
  11. ColonialCoinsUK

    The Land of Tequila

    By ColonialCoinsUK,


    Mexico
    Jalisco is the 3rd Mexican state added this month and is north of Chiapas and Campeche and more or less west of Mexico City, although the State is on the west coast Jalisco is lacking a major port. My knowledge of the State extends to the 1986 soccer World Cup with matches played in Guadalajara, the State capital – not sure why everyone here in the UK remembers that tournament.
    Then there is Tequila, a major export for the State, and increasingly popular here in the UK but as I would rather have a beer than a cocktail it has been a while since I drank any!
    This addition means that we are now up to 7 Mexican States and it also adds another bank to the ‘Impossible Set’.
    1.   Chihuahua; 2.   Tamaulipas; 3.    Veracruz; 4.    Guerrero; 5.    Chiapas; 6.   Campeche; 7.   Jalisco
    Impossible Set:-
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list

    The note for this Set is from Banco de Jalisco Series 2 issue as I have not yet been able to acquire a nice example of one of the beautiful coloured notes (unusually this is back of the note) from Series 1. The bank was founded in 1897 with Bradbury Wilkinson & Co printing the first Set of notes, running from 50 centavos to 1000 pesos – this was a bit odd, as at the time, banks couldn’t issue notes of the less than 5 pesos and therefore the two smallest denominations were redundant. Fortunately, they were saved and when regulation changes allowed the issue of these lower denominations they entered circulation in 1914 alongside the ABNC printed Series 2 notes (1902 to 1914). The example of the 50 centavos in my collection is low grade and therefore doesn’t do the colours justice at all so will need to be upgraded at some point. The bank closed in 1915 joining the fate of many other State Banks following the post-Revolution financial reforms.


     
    A specimen 5 pesos note from Series C (1908, S320, M385) of the ABNC printing represents the State and as the lowest denomination is one of the more readily available notes in high grade. Contemporary counterfeits of this note exist (S328, M386) with the easiest way to tell being that the name of the printer is not correct and they are often unsigned remainders. Some notes from the first two series, A and B, may also be found with Branch overprints for Tepic, Zamora and Zapotlan – even more scope for collectors! Surprisingly, this note is the only one in the series, 5 to 1000 pesos, not to have a vignette (local scenes or an allegorical figure) on the front alongside the State Coat-of-Arms whereas all notes do share the same view of the centre of commerce, Guadalajara, on the back.


  12. ColonialCoinsUK
    It has been a while since I have added to the ‘Mexican States’ which has stood at four entries for a while, this Journal Entry now adds Chiapas to the list and also a bank to the ‘Impossible Set’.
    1            Chihuahua
    2            Tamaulipas
    3            Veracruz
    4            Guerrero
    5            Chiapas
    Impossible Set can be found at:-
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
    Chiapas is the southern-most state in Mexico, bordering Guatemala and the Pacific and consists of a mixture of mountains and rainforest, is a region rich in history with many Mayan archaeological sites. The State capital, and only major city, is Tuxtla Gutierrez where the Banco de Chiapas was founded in 1901. Unusually this was an American owned bank established to support the building of a railway, however one of the partners commitment was somewhat dubious and it only operated for a few months before closing. In addition, the locals tended to use a local Guatemalan currency and banking services offered by the wealthy families of the region and had no trust in a new bank. During 1902 the bank was put in the hands of a local business man and its fortunes improved greatly before merging with Banco Oriental de Mexico in 1909 following the banking reforms of 1908. During this short-time a limited number of denominations were printed by the ABNC with proof and specimen notes known for the 5, 10 and 20 pesos. The total value of issued notes, across all denominations, was only $500,000 with the Banco Oriental de Mexico recalling these following the merger and recording $440,000 as incinerated.
     
     
    5 pesos               S113, M65          print 50,000
    10 pesos             S114, M66          print 25,000
    20 pesos             S115, M67          print 12,500
     
     
    Due to the rarity of issued notes the example in my collection representing this State, is a specimen note of 20 pesos (S115s, M67s, only four PMG graded examples). The vignette on the left of the front of the note depicts a local water carrier and two children whereas the back shows an image of farm workers leading a team of oxen transporting the crop from the fields for processing. This view is appropriate as agricultural commodities such as coffee, henequen and rubber formed the basis of the economy of the region. This note is also a first for the collection in that the punch holes on the Specimen notes from this Bank are of two different sizes.
     

     
     
    https://papermoneyofmexico.com/index.php/history/chiapas/banco-chiapas
     
     
  13. ColonialCoinsUK

    Impossible - 2023 February

    By ColonialCoinsUK,


    Central & South America
    A very busy month meant that I have only been able to add 3 notes to the Impossible Set, although this did add the first examples for 2 countries.

    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
    The first note added was the Argentine 1 peso note which was highlighted in the previous Journal Entry as it was the first square note in the collection.


    The second note is from the Bolivian Bank established by Francisco Argandano in 1892. Not knowing much about this from the banknote references, an internet search found that Francisco had a really interesting life and was even made a Prince – the only one in Bolivia.


    The last note that made it into the set this month is an example of the 50 centavos issue from the Aguan Navigation and Improvement Company from Honduras. The company didn’t last long as it was set up to raise funds to build a waterway from the Atlantic to the Pacific – Panama won that one!

  14. ColonialCoinsUK

    A hoard note?

    By ColonialCoinsUK,


    Central & South America
    I have added an example for the Banco Colombiano from Guatemala to the Impossible Set also indicating that this bank requires much more research.


    The note is S121b, an example of the 1 peso issue, dated 17th April 1900 and my research so far posed a few questions. Earlier dates of 17th October 1879 and 5th April 1900 are also recorded, as is a Specimen issue, with most of the notes cancelled and not issued (S/N 59999 to 184998) suggesting a single print run.
    So far all of the examples I have seen are all of the 17th April 1900 issue with the lowest serial number I have recorded being 17929 and the highest being 56372, with maybe ~100 notes still in existence, hopefully more. First, these numbers suggest that the earlier dates were much smaller issues, and correspond to the lower serial numbers and second; there is a group between 41037 to 41085 (from my records) which seems to correspond to all of the high-grade examples known, and about half of the total examples, which suggests a hoard of these notes was discovered at some point.
    Any information on such a hoard would be much appreciated, as it seems to have been distributed quite some time ago with ungraded notes appearing singly at auctions across Europe and the US. The better notes all being submitted to PMG at different times and graded 63 to 66 with most receiving a 64 – as my example did.
    I wonder what surprises the higher denominations will hold?
  15. ColonialCoinsUK

    Impossible - 2023 July

    By ColonialCoinsUK,


    Central & South America
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
    This month saw San Luis Potosi join my Mexican States set which also allowed the Banco de San Luis Potosi to fill another gap in the Impossible Set. Given that ‘Potosi’ was only added to the State name at a later date to highlight the importance of silver and gold mining to the region, it seems only appropriate to add a bank more closely tied to the famous Bolivian silver mine – the Banco de Potosi.

    Knowing there were some notes from other Mexican and Bolivia banks buried in my collection I decided to concentrate on these two countries for July. As a result, the Tesoreria de la Republica de Bolivia, Banco Mercantil and the Banco Central de Bolivia expanded the Bolivian group in the Set. Unlike most of the banks in the Impossible set, which no longer exist, the last two are still operating. The central bank has the sole responsibility for the Bolivian currency and the Banco Mercantil merged with the Banco Santa Cruz only a few years ago, in 2006, forming the Banco Mercantil Santa Cruz, which still plays a major role in the finance sector of Bolivia.

    The opposite end of banking longevity is evident by the selection of the extra Mexican banks. Like many of the short-lived private banks, which ultimately make up the Impossible Set, it is specimen notes and proofs, rather than issued notes, that are the only remaining testament to their plans. The Banco Mexicano de Comercio e Industria, a branch spin-off from what is now Deutsche Bank, was one that didn’t fare so with global events overtaking plans to issue their own notes, so the example included in the set is a specimen 1000 pesos note, and is one of my favourite designs, as it is reminiscent of the classical Three Graces of British numismatics. The other Mexican notes is a local low denomination issue by a major company, essential for day-to-day commerce during the Revolutionary period.

    I am delighted to have been able to add 7 new ‘banks’ to the Impossible Set during July and also begin to uncover their history and the fascinating stories of the places and people involved. So far, it appears that every new note has the potential to be the start of a bigger research project, so that is 52 projects so far !
  16. ColonialCoinsUK

    From Ukraine to Guatemala

    By ColonialCoinsUK,


    Central & South America
    The recent Journal Entry from @Fenntucky Mike entitled ‘My Bankroll Is A Foot Thick…’ (2023 April 20) highlighted the amazing prices that some Ukranian banknotes are achieving at auction and I would like to add a recent Latin American example.


    The note in question is a 1 peso example, from the first issue in 1892, by the Banco Comercial de Guatemala (S131). When this note appeared at the recent Daniel Sedwick auction (2023 May 3-4th, Lot1309) it had a starting price of 10,000USD and my first thoughts were that was a bit high to say the least! Although notes from this bank are rare, and it now resides in a World Banknote Grading AU58 holder, the same note had been sold, ungraded, in 2013 by Sincona (Auction 15, 17th October, Lot 4219) achieving a hammer price of 4000 Swiss Francs and I half expected for it to remain unsold. It turned out I could not have been more wrong and the hammer price was 22,000USD.


    I guess that means my well-worn example (PMG12) looks set to stay as the representative note for this bank in my ‘Impossible Set’. Even with this dramatic difference in grade it is still possible to see that different people added the dates for these two notes and I now know what colour it is supposed to be and what the signatures are.
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
     
     
  17. ColonialCoinsUK

    It's square!

    By ColonialCoinsUK,


    Argentina
    All my banknotes are basically rectangular in format, although they do vary dramtically in size and orientation so it was great to add this 1 Peso note from La Provincia de Buenos Ayres to the collection as it is square! This also adds another bank to the Impossible Set which helps.
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
    As a Napoleonic collector I realise that some of the early French Revolution issues are also square but I don't have any
    Like coins there are probably examples of banknotes in every shape too - not sure how practical some would be though

     
  18. ColonialCoinsUK

    Impossible - 2022 December

    By ColonialCoinsUK,


    Central & South America
    This month has seen the ‘Impossible set’ grow by four notes making a grand total of 15.

    The new additions are from French Guiana – Banque de la Guyane, Paraguay – the 1870 Argentine Occupation and Suriname – Centrale Bank van Suriname. The fourth addition is from the Bank of Guyana, Guyana for which I have already posted a Journal Entry as it completed the country!

    These notes cover former British, Dutch, French and Spanish colonies and thus represent some of the fascinating history of South America. I have also finally managed to add some brief information on the ‘bank’ and the representative example for the original notes, which started the Set. Although I still have a few relevant notes to add these will have to be a few at a time. Hopefully, a few more will also be acquired creeping, albeit very slowly, closer to the impossible total whatever that may be.



  19. ColonialCoinsUK

    An Impossible Set?

    By ColonialCoinsUK,


    Central & South America
    One of the goals for my collection is to put a Set together made up of a note from the Revolutionary Period for each State in Mexico - a total of 30 notes. I think this is achievable, and is proving a great way to learn about the region, and the Set is ticking along nicely. Some States had multiple Banks, for example Yucatan had El Banco Mercantil de Yucatan, El Banco Yucatecco, then El Banco Pennisular Mexicano plus a range of later private, military, state and municipal issues so there is plenty of choice for the 'banks' and denominations which could make up this Set providing some much needed flexibility.
    This diversity meant that Mexico had 100's of Institutions that issued currency before centralisation of the banking system in 1923 and one note from each would probably be considered 'impossible' - is there already such a collection?
    I have bought a few group lots, whilst also working on another set , which meant that I have ended up with an increasing number of notes from across Latin American which prompted a quick look at the SCWPM:Specialist Issues catalogue. This has ~50 Bancos listed for Mexico (does not include the later issues), >100 from Argentina, even more for Colombia although for Nicaragua only 4 are mentioned, and then there is the main catalogue which adds even more.

    As the saying goes 'go big or go home' I decided my 'impossible' banknote set would be one example from each bank/issuing authority for the whole of Central and South America!
    As an example of every catalogue number is just being silly this Set provides some sort of focus, not much but my justification anyway, as it still needs 1000's of notes.  I expect some of the earlier/local issues are probably 'impossible' in their own right and this means there will always be a gap somewhere. As a long time collector of die numbered Victorian coinage (1864-1879) and Napoleonic medals I am no stranger to 'impossible' Sets so adding a 'paper' set to my never to be completed collection seemed like a logical thing to do!
    So I have started a Signature Set with just a few notes to sort out the format etc. Extra notes and information will be added over the next hundred years or so
    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list
     
     
     
     
  20. ColonialCoinsUK

    First PMG Set

    By ColonialCoinsUK,


    Mexico
    https://notes.www.collectors-society.com/registry/notes/mysets_listing.aspx?PeopleSetID=34594
    This year has seen a couple of milestones in my collection, the first dealing with coins and the second banknotes. After more than a decade, I finally managed to complete my NGC Registry Set consisting of the main types of Napoleonic Francs and, much to my surprise, I have also managed to complete my first PMG set, this was much quicker but then it was 5 notes rather than 30 coins!

    The Set consists of the 5 to 100 pesos notes issued by the Banco de Tamaulipas in Mexico from 1902 to 1914 with all denominations represented by remainders* as these were available in high grades to allow appreciation of the design. My collection also has a 1000 pesos specimen note although it still lacks an example of the 500 pesos note and then there are the notes from earlier and later periods issued in the State, all with fascinating designs and history. You have to start somewhere and Tamaulipas appears to have been it as very few of my Banco Sets corresponding to the other Mexican States (pre and post revolution) have even been started and those, which are actually underway in my collection typically, comprise a single note. Then there is the rest of Central and South America so I have no idea where completed PMG Set No. 2 will come from.
     
    * Collecting issued notes by Series, signatories and dates appears to be possible and would make an impressive reference collection but would probably drive me mad. If anyone is considering this, look at the information on ‘papermoneyofmexico.com’ first and then change your mind!
  21. ColonialCoinsUK

    Not something you see everyday

    By ColonialCoinsUK,


    Odd notes
    Here in the UK there seems to have been a shortage of £5, £10 and £20 notes from cash machines lately - no idea why?
    The outcome of this was that I received a £50 note instead!
    Although some people may be familiar with these they are not something that is in everyday use here at all. I have only had about half a dozen £50 notes in my entire life and that was many years ago when I lived in London. This is one of the new polymer notes which were introduced in 2021 and even has the first AA serial number - so do I keep it or spend it???
  22. ColonialCoinsUK

    First note from Argentina

    By ColonialCoinsUK,


    Argentina
    Not only is this another country from Latin America to add to the collection but it attracted me for a couple of reasons. First the cancellation holes are square - I thought that was a bit different as most seem to be round.

     
    In my collection I have a Guatemalan 1 peso with Cybele riding a chariot being pulled by two lions whereas this time she seems to have gained a passenger in Mercury, which is no doubt why it now takes four lions to do the hard work!
    It is no surprise to see Mercury on a banknote as he is the god of commerce however it seems that his chariot is usually pulled by two roosters - I wonder if this is on a banknote anywhere? He has also regained the caduceus from the Mother Goddess.

     
  23. ColonialCoinsUK

    It must have been fate

    By ColonialCoinsUK,


    Mexico
    As I am now adding banknotes to my collection my first Journal entry over here at PMG detailed a 1915 Mexican 'dos caritas' 10 pesos from Chihuahua .
    During a recent clear-out I came across some things from ~40 years ago which was when the interest in all things numismatic started. Among the British colonial coins (all common and low grade ) I was surprised to find I had kept a reproduction of a Mexican Revolution 10 pesos banknote from Chihuahua.
    I guess that means I have been interested in the period for longer than I thought. A bit scary how things work out but I suppose that means I am on the right track and now I just need an example of the real thing!
     
  24. ColonialCoinsUK

    What's a Quetzal?

    By ColonialCoinsUK,


    Guatemala
    Another thing drawing me to central/south America, and beyond Mexico, is a long-standing interest in the ancient cultures of the region - the Maya, the Inca, the Aztec and the Olmec's and so on. If I won the Lottery then my travel plans would be to visit these sites, unlike friends and colleagues who seem to prefer major cities and pristine beaches.
    As a result I could not resist this half-quetzal note from Guatemala depicting the Temple of the Jaguar at Tikal on the back and Tecun Uman, one of the last rulers of the Maya, on the front. Does anyone know if the Maya glyph means something specific or is it just used as an example? Languages are not my strong point, google translate? 
    The currency is named after the Quetzal, the spectacular red and green bird seen flying across the face of the note whose long tail feathers were incorporated into the headdresses of the Aztec and Maya ruling class. As Tecun Uman's spirit guide, and a symbol of Liberty, it features on many notes and coins from post-colonial Guatemala.
    I suppose that means I have already drifted south along the coast and have also started my first 'modern' set.
     
  25. ColonialCoinsUK

    Impossible - 2023 January

    By ColonialCoinsUK,


    Central & South America
    This month saw the sale, by StacksBowers, of the Rosenmann and Ellicott Collections of Latin American banknotes at the NYINC. These were extremely impressive collections, both in rarity and grade, however given some of the prices realised completion of this Set may be more Impossible than I thought . At the moment, earlier Brazilian and Venezuelan notes also seem to be very popular everywhere with my bids not even coming close to the final price.
    For some unknown reason I had also missed Costa Rica off the country list, odd, as I have some notes in my collection from there with the modern ones being very colourful. This ‘oversight’ would also not have helped in completing the Set!
    Current status of the Impossible Set can be found at:-


    https://notes.www.collectors-society.com/registry/notes/ViewPersonalCollection.aspx?UserCollectionID=1822&Tab=list This month saw five more examples added to the Set, these were from Brazil-Banco Central do Brasil, Chile-Banco de Curico, El Salvador-Banco Central de Reserva de El Salvador, Nicaragua-Banco Agricola-Mercantil and Peru-Banco de Arequipa. This brought the total number of notes to 20, so at this rate 30 or 40 years should do it . The Chilean note was my first note with counterfoils attached and thus very different to the way things are done now. One of the things I find interesting about this period is the numerous currencies and the odd denominations that you sometimes get – the Peruvian note is for 40 centavos and is still my only note of this value.

    Putting the comments together for the Banks, and the individual notes, has just highlighted that the information gaps in the usual references are not restricted to the small, short-lived banks – means lots of work to do but that is part of the fun, hopefully descriptions will improve as the Set progresses.