5 Centavos Gobierno Constitucionalista de Mexico

The Constitutionalist government under Carranza produced enormous quantities of small-denomination cartón notes in 1914 as fractional coinage disappeared almost entirely from circulation — hoarded, melted, or simply overwhelmed by the chaos of competing revolutionary factions each printing their own paper. These cardboard-stock pieces were emergency expedients, issued regionally and often by local military commanders operating under loose Constitutionalist authority, which means attribution and authentication are genuinely difficult. Condition issues are endemic to the type: the cartón stock absorbs moisture, warps, and splits at corners far more readily than conventional banknote paper.

The S-prefix in the Pick reference places this firmly in the specialized revolutionary scrip category — not a product of any established banking institution.