Mexico 1884 – Fábrica de Tunal 1 Peso (Pick Unlisted, ABNC)
La Fábrica de Tunal operated in the rural industrial zone outside Durango city along the Tunal River, referenced repeatedly in contemporary mining, agricultural, and provincial reports. It functioned as a mixed enterprise that supported ore processing, local provisioning, and payroll systems in an economy where formal banking penetration remained minimal. Corporate notes such as this were legally payable 'al portador en moneda de plata'-to the bearer in silver coin-and operated as circulating value instruments within local markets, mining camps, haciendas, and caravan stops. This places the Tunal emission within the informal but highly consequential monetary layer that enabled industrial expansion in northern Mexico. Read more →