1915 Chihuahua Revolutionary 5 Pesos Note - Series M - Blue Scalloped Seal - 1915 Mexico Revolution Five Pesos Note - P#S532a

This listing is for the photographed 1915 Mexican Revolution El Estado de Chihuahua 5 Pesos Note. This note was issued under the military decree dated February 10th, 1914. Series M. Issued in June of 1915. The obverse of this note displays a portrait of Francisco I. Madero on the left end and a portrait of Governor A. Gonzalez on the right end. The reverse shows a view of the capital building at the center. The reverse has a blue scalloped bank seal, the date 9=10=15, and a letter code overprinted. Almost Uncirculated (Au) grade/condition, little to no signs of circulation, crisp note! P#S532a (Pick Number S532a). Excellent note for any collection! Interesting piece of Mexican history!

After the assassination of Francisco I. Madero in 1913, revolutionist Pancho Villa formed the Division del Norte (Division of the North) to revolt against the newly established repressive dictatorship of Huerta. He became the provisional governor of Chihuahua in December of 1913 and decreed that the state treasury would issue paper money, known as Sabanas, in order to support his division and revive the economy. But due to merchants and banks being reluctant to accept this new form of currency and the rampant counterfeiting of these notes, they were ineffective. Villa decided to establish a more sophisticated form of paper currency in the state that would help to boost public trust and prevent counterfeiting, which would be known as Dos Caritas (two little faces) because of their design which bore two portraits of Madero and Gonzalez. Dos Caritas notes were accepted as legal tender within the state until the end of 1915 when Villa was defeated by Carranza and took control of Chihuahua, when he decreed that the Dos Caritas notes would be invalidated and replaced with notes issued by the Constitutionalist government. Carranza reasoned that because these notes were likely unauthorized because of their newness and abundance in the state, they should be invalidated and replaced to stabilize the economy. 

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1915 Chihuahua Revolutionary 5 Pesos Note - Series M - Blue Scalloped Seal - 1915 Mexico Revolution Five Pesos Note - P#S532a