Sonoran Heritage

Getting your Trinity Audio player ready...

I recently attended the Texas Numismatic Association (TNA) show held in the Dallas metro area. It was a decent day trip, and far more accessible than the TNA’s previous location in southern Texas. One of my favorite purchases from the show was a Mexican 100,000 pesos, the largest-denominated note ever issued by the Bank of Mexico. Designated pick number P-94, the note has a richly designed front and back.

Revolutionary Hero

A portrait and watermark of General Plutarco Elias Calles appears on the front of this note. A hero of the Mexican Revolution, Calles was Mexico’s 47th president (1924-28) and its de facto leader during the transitional Maximato period (1928-34). Born in Guayamas, Sonora, in 1877, Calles died in Mexico City in 1945. 

In addition to fighting in numerous wars and battles, Calles participated directly in the shaping of post-revolutionary Mexico. He was not a fan of the Catholic Church, and part of his legacy was separating church and state. An atheist and anti-clerical activist, Calles was instrumental in founding the Bank of Mexico, modernizing the military, and establishing what would become the ruling party of Mexico for 71 years. He survived exile in the United States and was able to return to his home country a few years before his death.

The facade of the Bank of Mexico is featured prominently in the center of the note’s design. Originally built between 1903 and 1905, the building served as the headquarters for the Mutual Life Insurance Company of New York. It was later remodeled in 1926-27 to incorporate security upgrades in preparation for housing the Bank of Mexico, which had been founded in 1925 and was in need of a permanent home.

Around this time, Calles was involved with the Cristero War of 1926-29. Around 70,000 people lost their lives in this civil war before its resolution. 

Nature Theme

The back of the note goes in a different direction and depicts Mexico’s natural environment. Saguaro, a single-stem cactus with branching arms that can weigh several tons and grow to 50 feet tall, is seen with a cluster of organ pipe cacti. The latter sprouts multiple stems from a single base and resembles a shrub—a 25-foot tall shrub. Next to the plants is a mule deer, which is named for its great mule-like ears. I discovered that mule deer tend to be nocturnal, keeping cool in the shade or moving to higher altitudes during the day to survive its harsh environment. Also shown is a body of water and a mountain.

The flora, fauna, and landforms can be found in the state of Sonora, the birthplace of General Calles. If the landscape and natural features look familiar, it may be because Sonora shares many similarities with neighboring regions in the United States, including Arizona and New Mexico, whose landscapes echo the one shown on the bank note. Scenes from the movies Catch-22, The Mask of Zorro, and Lucky Lady were filmed in the vicinity.

Sacred Mountain

The body of water is that of San Carlos, a coastal town on the Sea of Cortez in Guaymas, Sonora. The mountain represents Mount Tetakawi, which was revered by both the indigenous Seri and Yaqui people. It was called Tecalai (“Dragon’s Tongue”) by the Yaqui, as well as Tetakawi, (“Rock Mountain). Interestingly, the Spanish settlers named this same mountain Tetas de Cabra, or “Goat’s Teats.” Regardless of what it is called, the mountain provides scenic views of the Sea of Cortez. You can hike the mountain with or without a guide, although writers warn hikers with cautionary tales of its fearsome descents. 

The notes are dated 1988, but they were not introduced into circulation until the early 1990s. The issue was short lived. In 1993 Mexico removed zeros from its denomination to make the devalued currency more palatable to the public. On January 1, 1996, the note was demonetized. 

The 100,000 pesos is a great addition to any world bank note collection. I will feature it in a future video on my YouTube channel, Numismatic Notes with Benjamin. Have a jewel of a day! 

---

A version of this article appears in the August 2026 issue of The Numismatist (money.org)