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20 Centavos Estado Libre y Soberano de Mexico

Issuer Estado Libre y Soberano de Mexico (Free and Sovereign State of Mexico)
Year 1915
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Value 20 Centavos (0.20)
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Obverse lettering Pagara al portador El jefe del departamento de caja del Estado Libre y Soberano de Mexico 20 veinte Cs En Toluca o en las oficinas recaudadoras en el estado
(Translation: Pay to the bearer The head of the accounting department of the Free and Sovereign State of Mexico 20 Twenty Centavos In Toluca or in the collection offices in the state)
Reverse description Blue print with black seal at center. A vignette of the Executive Palace (Palacio de Gobierno) of Toluca occupies the central field, flanked on either side by the note's denomination numeral. The overall layout is symmetrical, with the seal providing the primary authentication element.
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Comments

The "Free and Sovereign State of Mexico" designation here refers not to the nation but to the State of México — one of dozens of subnational Mexican entities that began printing their own emergency fractional currency in 1915 as the Revolution's economic collapse made federal coinage and Constitutionalist paper money increasingly unreliable or simply unavailable. Cartones and small-denomination paper notes flooded the country that year, issued by states, municipalities, merchants, and mining companies alike.

The Pick S-prefix confirms revolutionary-era state issue. Survival rates for these fractional notes vary wildly — the lower the denomination, the harder the circulation, and 20-centavo pieces rarely survived long in daily use.

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