20 Pesos

The Administración de Hacienda y Crédito Público issues are among the more politically tangled pieces of Mexican Revolutionary-era paper, circulating during a period when multiple competing authorities were printing money simultaneously and public trust in any paper currency was essentially nonexistent. Regional acceptance depended almost entirely on which faction held military control at the moment of transaction.

PS prefix in the Pick catalog denotes a state or provisional issue — this one falls outside the federal Banco de México framework entirely.