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1 Peso El Estado de Chihuahua

Issuer Estado de Chihuahua (State of Chihuahua)
Year 1914
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Currency Peso (1913-1915)
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Obverse lettering EL ESTADO DE CHIHUAHUA PAGARA AL PORTADOR EN EFECTIVO UN PESO, CONFORME AL DECRETO MILITAR DE FECHA 10 DE FEBRERO DE 1914 CHIHUAHUA, CHIHUAHUA, MEXICO. UN PESO
(Translation: The State of Chihuahua will pay to the bearer in cash One Peso according to the military decree dated 10 February 1914)
Reverse description Printed entirely in blue, the reverse presents a central architectural vignette of the Government Palace (Palacio de Gobierno) of Chihuahua city, flanked on either side by heraldic griffon figures. Red control numbers and letters appear alongside a red seal, providing both identification and a basic security element. The composition is typical of Mexican revolutionary-era state emergency currency.
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Chihuahua's state government began issuing its own paper currency in 1913–1914 under Governor Manuel Chao and, later, Pancho Villa's División del Norte administration — a direct consequence of the near-total collapse of federally issued money during the Huerta period. The Maverick-Clarke Litho Company in San Antonio was the practical choice: it was close, capable, and operating across the border from a state whose own printing infrastructure was essentially nonexistent during active military campaigning.

These Chihuahua state notes circulated alongside a chaotic mix of revolutionary scrip, and their acceptance was often enforced at gunpoint rather than earned through public confidence. Depreciation was rapid once Villa's military fortunes turned after 1915.

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