5 Pesos Ejército Constitucionalista de México

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.