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5 Pesos Ejército Constitucionalista de México

Issuer Ejército Constitucionalista de México (State of Chihuahua)
Year 1914
Type Local banknote
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Obverse description Letterpress in black on green underprint, with red serial numbers. At centre, a vignette of the Mexican national coat of arms — an eagle with a serpent in its beak, perched on a nopal cactus — set against a background of Lake Texcoco with the volcanoes Popocatépetl and Ixtaccíhuatl. Textual inscriptions surround the central vignette, with the denomination and issuing authority rendered in bold lettering.
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Reverse lettering Cinco Pesos Este billete circulará de acuerdo con el decreto de 12 de febrero de 1914
(Translation: Five Pesos This banknote will circulate in accordance with the decree of February 12, 1914)
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Comments

The Constitutionalist Army under Venustiano Carranza issued its own currency during the Mexican Revolution as a practical military necessity — federal Huertista notes were being refused, and the northern campaigns needed a functioning medium of exchange across Chihuahua and Sonora. These notes were printed locally under field conditions rather than by an established security printer, which is why paper quality and registration consistency vary considerably across surviving examples in this series.

P-S524 is among the more common Constitutionalist types, but heavy circulation and the subsequent 1916 currency decree — which invalidated enormous quantities of revolutionary paper — mean genuinely uncirculated survivors are uncommon.