

This is a VF-graded 100 pesos note from the Provisional Government of Mexico issued in Veracruz on December 1st, 1914, during a pivotal moment in Mexican history. The note displays the characteristic ornate engraving of the era with a striking central vignette featuring the Mexican eagle and cactus flanked by a classical female figure (Liberty), rendered in black and red on aged beige paper. Despite moderate wear including staining, creasing, and foxing consistent with historical circulation, the fine line work and decorative guilloche patterns remain well-preserved, making this an important example of revolutionary-period Mexican currency.
Common. While this is a historical note from the Mexican Revolution, the 100 pesos denomination from the Provisional Government of Veracruz (1914) was issued in substantial quantities for emergency circulation. The catalog designation P-S115b indicates this is an established, cataloged variety rather than an unusual issue. eBay market data shows comparable uncirculated examples trading in the $50-$200 range, which is consistent with common historical notes. VF condition examples trade at lower price points than the listed UNC specimens, suggesting moderate collector demand but no scarcity premium.
Issued during the Mexican Revolution by the Veracruz-based Provisional Government, this note represents a transitional period in Mexican governance and monetary policy. The prominent imagery of the Mexican eagle, constitutional tablets, and Liberty figure reflect the revolutionary emphasis on constitutional reform and national identity, while the December 1914 date places it within the phase of the conflict following the Convention of Aguascalientes. The decree reference (September 19, 1913) on the note anchors it to earlier provisional government monetary authorization, demonstrating the continuity of emergency currency measures during the conflict.
The obverse features a symmetrical composition dominated by an ornate central oval vignette containing the Mexican national emblem—an eagle with spread wings perched upon a flowering nopal cactus, with mountainous landscape visible in the background. To the left sits a classical allegorical female figure representing Liberty or the Mexican Republic, draped in classical robes and holding constitutional tablets, symbolic of the constitutional reforms driving the revolution. The denomination '100' appears in decorative quatrefoil emblems positioned in all four corners. The reverse centers on an elaborated circular medallion containing the coat of arms with radiating sunburst rays, surrounded by ornate floral and geometric scrollwork. The entire design employs fine engraving with extensive guilloche patterns creating decorative borders and security elements throughout.
FRONT: 'GOBIERNO PROVISIONAL DE MEXICO' (Provisional Government of Mexico); 'Veracruz, Diciembre 1º de 1914' (Veracruz, December 1st, 1914); 'SERIE E' (Series E); 'Nº 193491' (Number 193491); 'CONSTITUCION 1914 MEXICO' (Constitution 1914 Mexico); 'LA TESORERIA RECIBIRA Y PAGARA ESTE BILLETE DE ACUERDO CON EL DECRETO DE 19 DE SETIEMBRE DE 1913' (The Treasury will receive and pay this note in accordance with the decree of September 19, 1913); 'MEXICO OFICINA DEL GOBIERNO' (Mexico Government Office). BACK: 'ESTE BILLETE CIRCULARA DE ACUERDO CON EL DECRETO DE 19 DE SETIEMBRE DE 1911' (This note will circulate in accordance with the decree of September 19, 1911); 'REPUBLICA MEXICANA' (Mexican Republic); 'TESORERIA HACIENDA' (Treasury Finance).
Intaglio engraving (line engraving), the standard security printing method for Mexican banknotes of this period. The fine line work, complex guilloche patterns, and detailed vignettes are characteristic of high-quality intaglio production. The printer for this Veracruz provisional issue is not definitively established in the visual analysis, though Mexican revolutionary notes were produced by various commercial printers; the technical quality suggests a capable security printer of the era.
Pick catalog P-S115b designation indicates this is the 'b' variety of this note type. The specific variety is identifiable by: Series E, serial number 193491 (red printing), and the December 1st, 1914 date from Veracruz. The 'b' designation in Pick catalogs typically indicates a secondary printing or variation in security features or design elements; collectors should cross-reference Pick P-S115a to identify distinguishing characteristics. The date, series letter, and serial number format are the primary identifying elements for variety classification on this issue.