1 Peso El Estado Libre y Soberano de Sinaloa

Sinaloa's revolutionary-period emissions of 1915 came at the height of factional chaos in northwestern Mexico, when Constitutionalist forces under Carranza were consolidating against Villista and other irregular currencies. State-level issues like this one filled a practical void — federal supply lines were unreliable, and local commerce needed a medium of exchange that commanding officers and merchants on the ground would actually accept.

The S1043 designation places it within a relatively well-documented Sinaloa series, though survival rates vary sharply by denomination, and the 1 Peso notes circulated hard enough that uncancelled examples with intact paper are genuinely uncommon.