| Description |
A facet of daily life, banknotes are tangible symbols of Mexican statehood and culture. These banknotes feature imagery deeply enmeshed with the complexities of Mexican history and society, revealing diverse and sometimes contradictory narratives.
The story of this banknote begins in 1822 when Mexico adopted paper currency. The public approached the novel concept of paper currency with apprehension, lacking confidence that these paper slips would hold monetary value. To ease these anxieties, mints began printing banknotes featuring the phrase “pagara cinco pesos a la vista al portador” (will pay 5 pesos at sight to the bearer). This notation continued to be featured well after banks gained the public’s trust in their paper currency. The notation can be found on this banknote, continuing the tradition a century later.
Beyond the practical purpose of banknotes as a method of transaction, banknotes also serve as powerful symbols of collective identity and memory. Many banknotes contain imagery referencing people and places of cultural significance. The reverse of the banknote depicts the monument Monumento a la Independencia, also called Ángel de la Independencia, designed by Antonio Rivas Mercado. The Angel was built in Mexico City in 1910 to celebrate the 100th anniversary of the nation’s independence from Spain. By featuring this public monument, the banknote delivers a message of freedom and national pride for Mexicans.
Although the messaging of Mercado’s imagery is straightforward, banknote iconography can also be complicated by convoluted messages. The individual experiences of those responsible for banknote design often bleed into the currency’s political and cultural references. When this 5-peso note was first printed in 1925, rumors surfaced about the woman portrayed on its front. She was first referred to as la gitana (the gypsy) by the general public, but her identity was not officially confirmed. Another narrative commonly identifies her as the Catalonian actress Gloria Faure, who was rumored to be the mistress of Mexico's Minister of Finance Alberto J. Pani. This led to a scandal – Pani was accused of transporting Faure to the United States for “immoral purposes”, and was forced to offer his resignation to President Plutarco Elías Calles. But Calles rejected Pani’s resignation, and was himself rumored to be having an affair with Faure.
According to the American Bank Note archives, the original portrait depicted on the banknote titled “The Ideal Head of an Algerian Girl,” was made in 1910 – 15 years prior to both the printing of the note and the scandal, confirming that Faure could not have been the model for the portrait. Despite this, numerous catalogs continue to misidentify the image as being that of the Catalan actress, enabling the legend, though disproven, to continue.
This 5 peso banknote was printed by the national bank of Mexico from 1925 to 1970 and remained in circulation until 1996. The HG series began print on August 20, 1958. |
| Bibliography |
Basáñez Loyola, Alejandro. “Pani y El Escándalo de La Gitana En El Billete.” Líder Empresarial, November 22, 2017. https://www.liderempresarial.com/pani-y-el-escandalo-de-la-gitana-en-el-billete/.
Brooks, Darío. “La Escandalosa Historia Alrededor Del Primer Billete Con Una Mujer Emitido Por El Banco de México.” BBC News Mundo. Accessed August 7, 2023. https://www.bbc.com/mundo/noticias-48391971.
Huerta, Josué. “La ‘amante’ Gitana Impresa En El Primer Billete Mexicano.” México Desconocido, November 5, 2020. https://www.mexicodesconocido.com.mx/gitana-impresa-en-el-primer-billete-mexicano.html.
Symes, Peter “The Secrets of the Señoritas Revealed: The truth behind two of Mexico’s most recognizable women on notes” International Bank Note Society Journal 46, no. 3 (2007). Newman Numismatic Portal at Washington University in St. Louis | Comprehensive Research & Reference for U.S. Coinage. 52-53 https://nnp.wustl.edu/library/book/548234?page=62.
Zárate Toscano, Verónica, & Eduardo Flores Clair “La iconografía Del Papel Moneda En México, Siglos XIX Y XX”. Historias, n.º 104, June 28, 2021. https://revistas.inah.gob.mx/index.php/historias/article/view/16980. |
