General Information

The Nacional Monte de Piedad is a non-profit institution and pawnshop established between 1774 and 1777 by Pedro Romero de Terreros as part of a movement to provide interest-free or low-interest loans to the poor. Recognised as a national charity in 1927, today it is a fast-growing institution with over 200 branches all over Mexico.

Additional Information

The main office is located on the north-west corner of the Zócalo. Despite having gone through considerable modifications, it once was a part of the estate owned by Hernán Cortés. The original residence was so great, extending as far as modern-day Madero, Isabel la Católica, Tacuba and Monte de Piedad streets, that chronicler Francisco Cervantes de Salazar once stated that it was not a palace, but rather a city itself.

Other observers compared the complex to the Cretan labyrinth where the Minotaur was imprisoned. The original structure had two floors and a series of smaller buildings that Cortés rented to traders. The main building used to house the Royal Tribunal and was the residence of two of the early viceroys of New Spain.

What had been Cortés’ accounting room while he was the Marquis of the Valley of Oaxaca, became a chapel and remained so until 1926.

Since then, it has been a museum, housing a painting by José de Páez from 1775, building decorations from the 18th and 19th centuries, cancellation stamps, paper money and certificates from 1880 as well as the building’s original statues.

On 17 April 2004 the building was damaged in a fire that resulted from a short circuit. It began in the cashiers and appraisers’ rooms where 10 people were working on a remodelling project at the time. However, no pawned items were damaged.

Architecture: Highlights

The tezontle stone façade of the current building dates from 1775, and at the peak above the main door is the coat of arms of the Count of Regla. In the main doorway there is the coat of arms of Mexico and a bust of Pedro Romero de Terreros. The inside of the building has been completely modified except for a few details.

Architecture: Explained

In 1948, a third floor was added to the building, which was extensively remodelled in 1984, with a number of projects. The outside walls of the building were cleaned, refurbishing the wood and ironwork of the portals and balconies, then sealing them against the effects of pollution. Floors, patios and columns were stripped and polished. Protections were placed on each appraiser’s window and the art salon was enlarged.