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Hernando de Cortes overthrew the Aztec Empire between 1519 and 1521. Mexico was the Viceroyalty of New Spain from 1535 until it gained its independence from Spain on September 28, 1821. During this period, New Spain included not only Mexico, but most of the western United States and Central America.

The Aztecs used copper ingots and cocoa beans for money. On May 11, 1535, a decree called for the minting of coins in Mexico with 1 Escudo equal to 2 Pesos or 16 Reales. Gold escudos, silver reales and copper maravedis were struck, but the minting of copper coins was later discontinued. Instead, silver Reales were cut into bits creating small change. This was the first mint to operate in the new world. Similar Escudo (XESE) coins were later minted in Lima (1598), Potosi (1650), Santa Fe de Bogota (1665) and Guatemala (1701). The silver Mexican Peso/Piastre/Dollar (XMSD) was introduced in 1732 as a trade coin and was used in most countries bordering the Pacific. Each year the silver was shipped from Acapulco to Manila where the trade with China was conducted. Over 3 billion coins were minted in Mexico between the Sixteenth and Nineteenth Centuries.

After gaining its independence, Mexico continued to use the silver Peso (MXP), though more nationalistic designs were introduced. The Peso was officially decimalized on March 15, 1861, but it wasn't fully decimalized in practice until 1898. Some of the local mints were slow in decimalizing and the Chinese, who were the principal consumers of Mexican pesos were slow to accept the decimalized coins. Because of the decline in the value of silver during the late nineteenth century, Mexico adopted the gold standard in 1905 with 1 Peso equal to 50 US cents. Nevertheless, Mexico continued to mint silver Pesos for export to China until 1949, even though the coins were dated 1898.

Although the Mexican Government issued coins, state banks issued banknotes. Mexico fell into monetary chaos during the Mexican Revolution when the contending factions issued currency to pay for the war. These issues included the "Inconvertible" Paper Money (MXI) that quickly depreciated until it took 100 Inconvertible Paper Pesos to get 1 Silver Peso. Mexico returned to a silver standard in 1916 and officially adopted the Mexican Peso on November 13, 1918. Mexico left the Gold Standard on July 25, 1931. The Banco de Mexico began issuing banknotes on September 1, 1925 and gained a monopoly over banknote issue on September 11, 1937. The Peso is divisible into 100 Centavos.

On January 1, 1993, a new Peso (MXN) was introduced equal to 1000 old Pesos. The Mexican Unidad de Inversion (MXV) is an inflation-adjusted mechanism set by the Central Bank of Mexico according to the variation in the Mexican Consumer Price Index. The value of the UDI is expressed in terms of Mexican Pesos per UDI. It is used to denominate mortgage loans, some bank deposits with Maturities of 3 months or more, and Government Bonds (UDIBONOS).

Here is a 1970 dated 1 Peso note. The note is black on multicolored underprint. The obverse features the Aztec Calender Stone in the center. The Aztec calendar stone, Mexica sun stone, or Stone of the Sun, is a large monolithic sculpture (Measuring about 12 ft in diameter, 4 ft in thickness and weighing 24 tons) that was excavated in the Zocalo, Mexico City's main square, on December 17, 1790. The central calender stone is flanked on both side by the notes denomination. The reverse depicts the Independence Monument in the center, also flanked by the notes denomination on either side. Known as The Angel of Independence, and most commonly known by the shortened name El Angel and officially known as Columna de la Independencia, is a victory column located on a roundabout over Paseo de la Reforma in downtown Mexico City.

• Krause# Pick-59j

This is a 1970 dated 1 Peso note. The note is black on multicolored underprint. The obverse features the Aztec Calender Stone in the center. The original basalt version of the calender is presently on display at the National Museum of Anthropology in Mexico City's Chapultepec Park. The central calender stone vingette is flanked on both side by the notes denomination. The reverse depicts the Independence Monument in the center, also flanked by the notes denomination on either side. The base of the column is quadrangular with each vertex featuring a bronze sculpture symbolizing Law, War, Justice and Peace.

• Krause# Pick-59k

Here is a 1 Peso note dated 1970. The note is black on multicolored underprint. The obverse features the Aztec calender stone in the center with the denomination to eaither side. The reverse is red and shows the Independence monument in the center.

• Krause# Pick-59l

This note is a 5 Peso from 1961. It is black on multicolor underprint. The obverse portrays a Gypsy woman, while the reverse shows a vingette of the Independence Monument.

• Krause# Pick-60g

This note is a 5 Peso from 1963. The note is black on multicolor underprint. The obverse portrays a Gypsy woman, while the reverse shows a vingette of the Independence Monument.

• Krause# Pick-60h

This 5 Peso note is dated 1972. The note is black on multicolored underprint. The obverse features Josefa Ortiz de Dominguez to the right and denomination int he center. Josefa Ortiz de Domínguez (born September 8, 1768 and died March 2, 1829) was a conspirator and supporter of the Mexican War of Independence against Spain in the early 19th century. She is frequently referred to as "La Corregidora". The reverse depicts a Yucco plant, aquaduct, the Ntaional Coat of Arms, and the village of Queretaro.

• Krause# Pick-62c

This is a 10 Peso note dated 1977. The note is dark green on multicolored underprint. The obverse features Miguel Hidalgo Y Costilla, whose full name is 'Miguel Gregorio Antonio Ignacio Hidalgo y Costilla Gallaga Mondarte Villaseñor', was a Mexican Roman Catholic priest and revolutionary rebel leader. He is regarded by most Mexican people as the "Father of the Country"; and was the founder of the Mexican War of Independence movement which fought for independence from Spain in the early 19th century. The reverse shows Dolores Cathedral.

• Krause# Pick-63i

Here is a 20 Peso note dated 1976. The note is red and black on multicolored underprint. The obverse features Jose Maria Teclo Morelos y Pavon. A Mexican Roman Catholic priest and revolutionary rebel leader who led the Mexican War of Independence movement, assuming its leadership after the execution of Miguel Hidalgo y Costilla in 1811. He was later captured by the Spanish colonial authorities and executed for treason in 1815. The reverse shows the Pyramid of Quetzacoatl. This structure is particularly notable due to the 200 or more sacrificial victims found buried beneath the structure. The burials, like the structure, are dated to some time between 150 and 200 CE.

• Krause# Pick-64c

Here is a 1977 dated 20 Peso note. The note is red and black on multicolored underprint. The obverse features Jose Maria Teclo Morelos y Pavon to the right with a Mexican buildign int he background. Jose was born into a poor family in the city of Valladolid, since renamed "Morelia" in his honor, in a house that is today a museum dedicated to his legacy. The reverse depicts the Pyramid of Quetzalcoatl. Also known as 'The Temple of the Feathered Serpent' it is the modern-day name for the third largest pyramid at Teotihuacan, a pre-Columbian site in central Mexico.

• Krause# Pick-64d

This 50 Pesos note is dated 1978. The note is blue on multicolored udnerprint. The obverse features a Government Palace in the background left, and Benito Juarez, whose full name is 'Benito Pablo Juárez García', was a Zapotec Amerindian who served five terms as President of Mexico. The reverse depicts a temple and Aztec god.

• Krause# Pick-67a

This 1979 dated note is denominated as 50 Pesos. The obverse features a Government Palace in the background left, and Benito Juarez, whose full name is 'Benito Pablo Juárez García', who after resisting the French occupation, overthrowing the Empire, and restoring the Republic, as well as his efforts to modernize the country, is often regarded as Mexico's greatest and most beloved leader. The reverse depicts a temple and Aztec god.

• Krause# Pick-67b

Here is a 100 Pesos note dated 1978. The note is purple on multicolored underprint. The obverse features Venustiano Carranza Garza, who was one of the leaders of the Mexican Revolution. He ultimately became President of Mexico following the overthrow of the dictatorial Huerta regime in the summer of 1914 and it was during his administration that the current constitution of Mexico was drafted. La Trinchera painting is also shown on the obverse. The reverse depicts a stone statue, known as 'Chac-Mool' which is the name given to a type of Pre-Columbian Mesoamerican stone statue.

• Krause# Pick-68a

This 100 Pesos note is dated 1979. The note is purple on multicolored underprint. The obverse features Venustiano Carranza Garza, who was assassinated near the end of his term of office as President at the behest of a cabal of army generals resentful at his insistence that his successor be a civilian. La Trinchere painting is also shown on the obverse. The reverse depicts a Chac-Mool stone statue. The Chac-Mool depicts a human figure in a position of reclining with the head up and turned to one side, holding a tray over the stomach. The meaning of the position or the statue itself remains unknown.

• Krause# Pick-68b

This 1979 dated note is valued at 100 Pesos. The note is purple on multicolored underprint. The obverse features Venustiano Carranza Garza, who was born in the town of Cuatro Cienegas, in the state of Coahuila, to a middle-class cattle-ranching family. La Trinchere painting is shown in the center background on the obverse. The reverse depicts a Chac-Mool stone statue. Chac-Mool statues are found in or around temples in Toltec and other post-Classic central Mexican sites, and in post-Classic Maya civilization sites with heavy Toltec influence, such as Chichen Itza.

• Krause# Pick-68c

Here is a 50 Peso note dated 1981. The note is blue on multicolored underprint. The obverse depicts a government palace to the right and Benito Juarez, whose full name is 'Benito Pablo Juárez García', was a Zapotec Amerindian who served five terms as President of Mexico. For resisting the French occupation, overthrowing the Empire, and restoring the Republic, as well as his efforts to modernize the country, Juárez is often regarded as Mexico's greatest and most beloved leader. The reverse depicts a temple and Aztec god.

• Krause# Pick-73

Here is a 1981 dated 100 Pesos note. The note is purple on multicolored underprint. The obverse features Venustiano Carranza Garza, who was one of the leaders of the Mexican Revolution. He ultimately became President of Mexico following the overthrow of the dictatorial Huerta regime in the summer of 1914 and it was during his administration that the current constitution of Mexico was drafted. La Trinchera painting is also shown on the obverse. The reverse depicts a stone statue, known as 'Chac-Mool' which is the name given to a type of Pre-Columbian Mesoamerican stone statue.

• Krause# Pick-74a

This is a 100 Peso note dated 1981. The note is purple on multicolored underprint. The obverse features Venustiano Carranza Garza, who was assassinated near the end of his term of office as President at the behest of a cabal of army generals resentful at his insistence that his successor be a civilian. La Trinchere painting is also shown on the obverse. The reverse depicts a Chac-Mool stone statue. The Chac-Mool depicts a human figure in a position of reclining with the head up and turned to one side, holding a tray over the stomach. The meaning of the position or the statue itself remains unknown.

• Krause# Pick-74b

Here is a 1000 peso note dated 1985. The note is dark brown and brown on multicolor underprint. The obverse shows Sor Juana, also known as Sor Juana Inés de la Cruz or, in full, Sor Juana Inés de la Cruz de Asbaje y Ramírez de Santillana. She was a self-taught Novohispano scholar, nun, poet, and a writer of the baroque school. The reverse shows Santa Domingo plaza. This note shows signature variety 1.

• Krause# Pick-85

Here is a 1000 peso note dated 1985. The note is dark brown and brown on multicolor underprint. The obverse shows Sor Juana, also known as Sor Juana Inés de la Cruz or, in full, Sor Juana Inés de la Cruz de Asbaje y Ramírez de Santillana. She was a self-taught Novohispano scholar, nun, poet, and a writer of the baroque school. The reverse shows Santa Domingo plaza. This note shows signature variety 2.

• Krause# Pick-85

A 20 Peso note from 2005 with the notation of Series X. This note is blue with multicolor underprint. The obverse shows B. Juarez to the right and and eagle on a cactus with a snake in the center. The reverse shows the Hemiciclo a Juarez monument. Thie note is made from a plastic ploymer.

• Krause# Pick-116 (not yet listed as a seperate variety)

This is a 2006 dated 20 peso note series A.

• Krause# Pick-Not yet listed

A 50 Peso note from 2005 with the notation of Series B

• Krause# Pick-Not yet listed

A 50 Peso note from 2005 with the notation of Series D

• Krause# Pick-Not yet listed

This note is a 100 Pesos note dated 2006.

• Krause# Pick-Not yet listed

Note donated by Rickie.

• Krause# Pick-P-