State of Bolivia
This is a commemorative polymer note (no value) released in early August 2025 celebrating the country's 200 years of independence 1825-2025. Whilst this is a commemorative note issued by Banco Central De Bolivia, it has no value printed on it and as such is not a legal tender banknote.
The struggle of independence for Bolivia first started in 1809, and since then the country went through many revolutions and were all defeated by the Spanish army, until 1825 when Antonia Jose de Sucre and Simon Bolivar both defeated the Spanish army. Independence was declared on 6 August 1825.
Whilst this is a commemorative polymer note issued by the central bank, it has no value printed on the note. This note was presented to the public on 4 August 2025 and is sold at 50 bolivianos per note. A total of 1.0 million pieces have been issued. I am not sure what is the purpose of printing this with no actual value on it. At least the central bank could have just printed a nominal value of say 1 or 10 bolivianos and you will not see anyone try to transact this note commercially at a loss. A piece of plastic sheet (banknote) with no face value is less attractive to many collectors, in my opinion.
No Value Numismatic product
Front row (L-R)
Back row (L-R)
Back - On the back, it depicts the Casa de la Libertad in Sucre and the Toborochi tree.
This is a commemorative note dated 2025 and is issued to celebrate the country's 65 Years of Cuban Banking System (1960-2025). This note was reportedly issued officially on 21.10.2025.
Whilst this note was issued to celebrate the country's 65th year of banking system, it is not much of a banking system or celebration as all banks in Cuba were nationalised in October 1960. The nationalisation of all banks in Cuba commenced on 17.09.1960, started with the three major US owned banks, namely - The National City Bank of New York, Chase Manhattan Bank (was then known as Chase National Bank) and Bank of Boston. The rest of the remaining banks were nationalised on 13.10.1960. However, two foreign banks were not initially included in this nationalisation programme, namely The Royal Bank of Canada and Bank of Nova Scotia. Despite this concession, these two banks later closed their operations in Cuba and both were acquired by the Cuban state by the end of 1960.
It was reported that public opinions on this new note were mixed and some criticised the relevance of this commemorative note and the cost of printing of this note. Opinions on this note including the questions of having this new note issued without backing can only worsen the current rampant inflation that the country is already experiencing, and if this note was issued to celebrate the country's 65th year of economic disaster. Obviously the majority of the comments were directed to the current Cuban economy and the need for such notes and the cost associated with issuing a newly designed note. I wonder if new stock for the 1000 pesos banknotes are needed but even then, the authority can still use the previous design and simply just add a commemorative logo on it, rather than redesigning the reverse side of the note, which would cost the bank extra to produce them.
One Thousand Pesos
Signature - Juana Lilia Delgado (since 2024)
Watermarks - Julio Antonio Mella McPartland and electrotype 1000
Date - ANO 2025
Size - 150mm x 69mm
Back - Unlike the normal 1000 pesos in circulation, the design on the back for this commemorative is completely new. The design depicts the Sculpture Complex (Che Guevara Mausoleum) dedicated to Commander Ernesto 'Che 'Guevara (b.1928-1967) in Santa Clara which replaced the previous design of the University of Havana. Che Guevara was born Argentinian and is famous around the world. He was the president of the National Bank of Cuba from 1959 to 1961 and then the Minister of Industries from 1961 to 1965. In 1967, he joined the Bolivia National liberation Army fighting against the Bolivia government. He was then wounded and captured on 08.10.1967 in the jungle near La Higuera in Bolivia and executed by the Bolivian army (Bolivian angers) the next day. He was shot by the Bolivian Army warrant Officer Sergeant Mario Teran Salazar (b.1942-2022). It was reported the order for the execution of Che Guevara came from the CIA. In all, Salazar fired a total of 9 shots at Che Guevara, first hitting his arms and legs and then his chest that finally killed him. It appears that Che Guevara was made to suffer first by the executioner before his execution.
The Che Guevara Mausoleum was built and completed in 1988. The mausoleum housed the remains of Che Guevara and 29 fellow combatants all killed in 1967 during Guevara's armed uprising in Bolivia. The mausoleum has a 22-foot statue of Guevara standing on a concrete pillar. Guevara's remains were discovered and exhumed and returned to Cuba and was buried in the mausoleum in 1997 with full military honors.
The note on the back is only printed with a mono colour. The commemorative logo is also printed on the bottom left corner, and because the back is printed in mono colour, it is not easy to spot this unless you have a closer look. This note is still printed with white borders on all sides, one of the very few countries still printing banknotes in such a manner.
The reason I added some of the stories above is that every banknote tells a thousand words. Every banknote designed has a meaning to it and whilst not all agree or disagree to it, only the opinions of the locals matter, and even that, there are still no right or wrong answers but just opinions. Please note that I am either pro or anti any countries or any individuals here.
It was reported back in December 2025 that the Central Bank is in the process to authorise foreign banknotes as legal tender currencies in Cuba. In reality, foreign banknotes have been openly acceptable as payment by private businesses for quite a while now and often get change in pesos. The most common foreign currencies used in Cuba are the USD, Euro and Canadian dollar. The exchange rates offered by those private businesses are always better than the official exchanges.
Banco de Mexico (Bank of Mexico) was established on 1st of September 1925 with its current head office located in the capital city of Mexico. Only five notes have been issued for this commemorative series as the 20 pesos note is not included. The designs for all five notes are the same as all current series in circulation but with commemorative text/logo printed (as above) to celebrate this special occasion. Like the current series, both the 50 and 00 pesos are printed on polymer substrate materials.
Whilst I have posted a full set of five notes, in reality, a complete set consists of 25 notes as in Mexico each denomination issued comes with 5 signature varieties. All banknotes are signed with the bank governor and counters signed by one board member of the central bank and all the five board member's signatures are not the same. This is one of the reasons that collecting Mexico banknotes in full sets is very difficult especially for those not residing in the country. Whilst some dealers may stock them in full sets with all five signature varieties for the lower note denominations, it is hard and expensive to get the 500 and 1000 pesos notes in full sets, and for this reason, I have decided just to have one denomination each. Sadly to say, the signatures on all of my five notes are not the same. It would be better if they were, as it would look nicer.
Fifty Pesos (Polymer)
Front - Image of the foundation of Tenochtitlan, which is now the capital city of Mexico, Mexico city. This is a historical site and was reported as being first founded in 1325. Underneath is the image of an eagle standing on a cactus plant.
Signatures - Victoria Rodriguez Ceja and Isabel Morales Pasantes
Date - Ciudad de México, 27 Jun. 2024
Sizes - 65mm x 147.5mm
Back - scene of an axolotl swimming in Xochimilco lake. This is one weird looking creature and can be found in several lakes in Mexico.
One Hundred Pesos (Polymer)
Front - Juana Inés de la Cruz (b.1648-1695). Her birth name was Dona Ines de Asbaje y Ramirez de Santillana. During her lifetime, she was a nun, a writer, poet and a musician composer too. Image of Patio of the "Antiguo Colegio" San Ildefonso. This building is now used as a museum and cultural center in Mexico City. Originally it was established in 1588 as a Jesuit boarding school. This was dissolved in 1978 and turned it into a museum.
Signatures - Jonathan Heath Constable and Isabel Morales Pasantes
Date - Ciudad de México, 27 Jun. 2024
Sizes - 65mm x 132mm
Back - rain forest with Monarch butterflies flying around persuasively from the Monarch Butterfly Biosphere Reserve. This is a UNESCO World Heritage Site and is located in the Trans-Mexican Volcanic Belt pine-oak forests ecoregion in central Mexico.
Two Hundred Pesos (Paper)
Front - Campana de Dolores (Bell of Dolores) which was used to call upon the population and start the independence movement in Dolores Hidalgo, Don Miguel Gregorio Antonio Francisco Ignacio Hidalgo-Costilla y Gallaga Mandarte Villaseñor (priest 1753-1811) who started the Mexico's War of Independence in Dolores Hidalgo and José María Teclo Morelos Pérez y Pavón (1765-1815) who assumed the leadership of the independent movement after the death of Hidalgo;
Signatures - Galia Borja Gomez and Isabel Morales Pasantes
Date - Ciudad de México, 27 Jun. 2024
Watermarks - Bell and electrotype 200
Sizes - 139.5mm x 65mm
Back - Royal eagle, Biosphere of El Pinacate (desert) and Gran Desierto de Altar in Sonora UNESCO World Heritage site.
Five Hundred Pesos (Paper)
Front - Portrait of Benito Pablo Juarez Garcia (b.1806-1872) was the 26th president of Mexico. He was appointed to the post from 1858 until his death in 1872. To his left is the sScene of Brnito Jusrez entering Mexico City.
Signatures - Victoria Rodriguez Ceja and Isabel Morales Pasantes
Date - Ciudad de México, 27 Jun. 2024
Watermarks - Benito Juarez and electrotype 500
Sizes - 146mm x 65mm
Back - The main design depicts the view of El Vizcaino Biosphere Reserve with a whale swimming with her calf. The Reserve was created in 1988 and is located in Mulege Municipality in northern Baja California Sur (peninsula).
One Thousand Pesos (Paper)
Front - Portraits of Maria del Carmen Serdan Alatriste (b.1875-1948, was a Mexican revolutionary), Hermila Galinda Acosta (b.1886-1954, was a Mexican ferminist and writer) and Francisco Ignacio Madero Gnzalez (b.1873-1913, was a Mexican businessman, revolutionary, writer, politician and statesman and was the 37th president of Mexico from 1911 to 1913). A steam locomotive is printed in the background on the left next to the portrait of Carmen Serdan,
Signatures - Jonathan Heath Constable and Isabel Morales Pasantes
Watermarks - Portrait of Francisco Ignacio Madero and electrotype 1000
Date - Ciudad de México, 12 Mar. 2025
Sizes - 153mm x 65mm
Back - The main design on the back depicts a jaguar presumably hunting in the jungle. To the right is the ruins of the Mayan temple Calakmul.