1 Peso El Estado de Chihuahua

Chihuahua was among the most prolific issuers of revolutionary paper money in Mexico, and by 1915 the state had already flooded the region with multiple series of emergency notes — many produced under Villista control. The financial situation had deteriorated badly enough that competing emissions from federal, state, and military sources all circulated simultaneously, and public trust in any single note was thin at best.

Counterfeiting was a documented problem across the Chihuahuan series. Genuine notes were sometimes refused outright while fakes passed without trouble — a reversal that says something about the period's monetary chaos.