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10 Centavos La Tesoreria de la Federacion, Saltillo

Issuer Tesoreria de la Federacion, Saltillo (State of Coahuila)
Year 1914
Type Local banknote
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Obverse description Black letterpress print on a red underprint, with the Mexican national eagle — wings outstretched, serpent in beak, perched upon a cactus — centered above a military trophy vignette comprising crossed flags, a drum, rifles, a cannon, and cannonballs. The serial number is printed in red, and the text is arranged in multiple registers across the face of the note.
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Reverse description Printed entirely in red, the reverse is dominated by a large horizontal oval vignette at center containing a detailed view of a mining camp, with headframes, ore processing structures, and various outbuildings set against a hillside landscape. The oval vignette is enclosed within a scalloped decorative border that frames the entire note.
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The Saltillo issues of 1914 came out of one of the most chaotic episodes in Mexican monetary history. With the Constitutionalist forces under Carranza controlling Coahuila and the federal banking system effectively paralyzed by revolutionary disruption, regional treasury offices began printing their own fractional notes to address a near-total collapse in small-denomination currency availability. The Tesorería de la Federación in Saltillo was operating under Constitutionalist authority — these were not insurgent scrip but quasi-official emissions from a government that considered itself the legitimate successor to Huerta's regime.

The S-prefix in the Pick reference places this squarely among the specialized regional revolutionary issues, a category notorious for condition problems caused by rough handling and the acidic paper stocks used under wartime printing constraints.

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