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100 Pesos El Estado Libre y Soberano de Sinaloa

Issuer Estado Libre y Soberano de Sinaloa
Year 1915
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Currency Peso (1915)
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Obverse description Black letterpress on pink underprint with red and blue serial numbers. At left, a laurel-wreathed vignette presents the bust of Benito Juárez, flanked by a topless allegorical female figure bearing a sword; at right, an oak-wreathed vignette frames the bust of Francisco I. Madero. The text of the issuing decree runs across the note in bold face.
Obverse lettering EL ESTADO LIBRE Y SOBERANO DE SINALOA PAGARÁ EL PORTADOR EN EFECTIVO CIEN PESOS CONFORME AL DECRETO FECHA 22 DE FEBRERO 1914 SAN BLAS, SIN.
(Translation: The Free and Sovereign State of Sinaloa will pay the bearer in cash One Hundred Pesos conforming to the decree dated 22 February 1914. San Blas, Sinaloa)
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Comments

Sinaloa was one of dozens of Mexican states and revolutionary factions printing their own emergency currency during the Constitutional period of 1913–1917, when Carrancista forces dismantled the old federal monetary system and local authorities scrambled to fill the vacuum. The Estado Libre y Soberano de Sinaloa issues of 1915 were authorized under that revolutionary framework — not issued by a bank, but directly by the state government, which had no printing infrastructure of its own.

These notes circulated in a region where acceptance was largely coerced. Once Carranza consolidated power and moved to unify currency, most state-issued paper became worthless almost overnight, which is why high-denomination examples like this 100 Pesos survived in quantity — they were simply not worth spending.

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