Mexico Proof Pair 1 Peso P46fp PMG68 EPQ Nuevo Leon Back Proof PMG65 EPQ Top Pop

Mexico Proof Pair 1 Peso P46fp PMG68 EPQ Nuevo Leon Back Proof PMG65 EPQ Top Pop

Offered here is a standout two-piece Mexico proof pairing, both printed by the American Bank Note Company and both certified by PMG with the coveted EPQ designation. This duo captures two very different eras and purposes in Mexican paper money production: a Banco de Mexico S.A. 1 Peso “PROOF” from 1948–50 (Pick 46fp) graded an extraordinary PMG 68 EPQ Superb Gem Uncirculated, and a Banco de Nuevo León 1 Peso “BACK PROOF” (Pick S359p2, ND 1892–1914) graded PMG 65 EPQ Gem Uncirculated. Together, they form a miniature exhibit of ABNC engraving artistry, from late 19th/early 20th century regional bank aesthetics to mid-century central bank precision.

Authenticity and long-term security are fully covered by PMG (Paper Money Guaranty), one of the world’s most respected third-party grading services. Both items are professionally authenticated, attributed, and encapsulated, and each carries the EPQ designation, confirming original paper quality and preserved surfaces. Proof material is especially sensitive to mishandling and environmental exposure, so PMG certification is a major advantage for collectors who want both confidence and protection.

The Banco de Mexico 1 Peso proof, Pick 46fp (1948–50), is visually dominated by a dramatic central medallion featuring Mexico’s iconic calendrical motif style, surrounded by precise geometric lathework and classic ABNC framing. Proofs like this were produced as part of the design and approval process, intended to showcase the engraving quality and final look before mass production. This example’s PMG 68 EPQ grade is an elite level of preservation, and the included population information elevates it further: it is Top Pop, with 1 graded at PMG 68 EPQ and none graded higher. In other words, it sits at the peak of the certified census.

Complementing it is the Banco de Nuevo León 1 Peso “BACK PROOF,” Pick S359p2, ND (1892–1914), an earlier and distinctly collectible item tied to Mexico’s regional banknote history. Back proofs are fascinating because they isolate the reverse-side artistry and printing intent, often showcasing ornate frames, vignettes, and security patterning in a way that regular issued notes can’t. The design here is richly decorative and unmistakably ABNC in style, with elegant border work and a strong central vignette presentation that represents the refined visual language of Mexico’s pre-centralized banking era. This piece is certified PMG 65 EPQ, and the provided population detail is equally impressive: Top Pop as well, with 1 graded at PMG 65 EPQ and none graded higher.

From a collecting perspective, this pairing offers more than just two high-grade certified proofs. It tells a story. You have a central-bank proof from the modernizing postwar period and a regional-bank back proof from the classic era of privately and locally issued Mexican notes—both executed by the same legendary American engravers and both preserved at the very top of their respective PMG population charts.

Collector’s Value
This is the kind of offering that rarely comes together: two ABNC-certified EPQ proofs spanning two key chapters of Mexican numismatic history, each boasting true Top Pop status with none graded higher. Proof material is inherently scarce, and top-pop examples are often “once-in-a-collection” opportunities because upgrading can be impossible. If you collect Mexico, ABNC production, proof and specimen material, or PMG population leaders, this pair delivers trophy-level appeal and display-ready impact that can anchor an advanced collection.