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1 Peso Estado Libre y Soberano de Mexico

Issuer Estado Libre y Soberano de Mexico
Year 1915
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Value 1 Peso
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Obverse lettering E. LIBRE Y SOBERANO DE MEXICO El jefe del departamento de caja pa gara al portador en Toluca o en las oficinas Recaudadoras del Estado. UN PESO
(Translation: The Free and Sovereign State of Mexico The head of the cash department will pay the bearer in Toluca or at the State Collection offices. One Peso)
Reverse description Printed in blue with a red seal. The central vignette presents an exterior view of the Instituto Literario de Toluca, rendered in a detailed architectural engraving style. The mandatory circulation decree text is arranged in a framed panel surrounding the central image.
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During the Mexican Revolution, individual states — cut off from federal financial infrastructure and desperate for a circulating medium — began printing their own paper money. Oaxaca, operating as the Estado Libre y Soberano, was among the most prolific of these regional issuers in 1915, producing notes across multiple denominations as Carrancista and Villista forces competed for territorial control and federal currency became effectively unusable across large parts of the country.

The S-prefix in the Pick reference places this squarely among Mexico's vast revolutionary state and local issues — a category so large and poorly documented that attribution disputes remain common.

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