20 pesos 1914
About This Note
This is an exceptional UNC example of the Estado de Chihuahua 20 pesos from 1914, a significant piece of Mexican Revolutionary currency. The note displays the characteristic reddish-brown and mauve tones of this issue, with two portraits of government officials on the obverse and an impressive neoclassical government building vignette on the reverse, all rendered in fine engraved detail. The pristine condition with minimal age-related discoloration and complete absence of wear makes this an outstanding specimen for advanced collectors of Mexican Revolutionary scrip.
Common. While state-issued currency from the Mexican Revolution is historically significant and collected with interest, the Estado de Chihuahua issued multiple denominations across several years (1914-1916 as evidenced by the date signatures), suggesting substantial print runs. The appearance of this note with a serial number in the millions (4522794) indicates a large numbering sequence. Notes from this series appear with regularity in the market at modest price points, confirming common circulation status. Revolutionary scrip from major states like Chihuahua typically had higher production volumes than more localized or short-lived issues.
This banknote was issued by the Estado de Chihuahua under military decree dated February 10, 1914, during the tumultuous Mexican Revolution when regional authorities throughout Mexico issued their own currency due to instability of the central government. The dated signatures referencing January 1915 and January 1916, combined with the military decree authorization, reflect the transitional period when state governments functioned independently with their own treasuries and administrative officials. The neoclassical government building depicted on the reverse symbolizes the state's institutional continuity and legitimate governmental authority during this fractious period.
The obverse features two bearded officials representing the governmental authority issuing this currency: on the left is a man with a full beard and goatee in formal attire, labeled with the date Enero 1915 (presumably the Gobernador or Governor), and on the right is a distinguished gentleman with a prominent mustache, labeled Enero 1916, likely representing the Tesorero General or another high official. These portraits are positioned flanking ornate decorative scrollwork and the central text authority line. The reverse displays a striking architectural vignette of a large neoclassical government building—likely the Palacio de Gobierno of Chihuahua—rendered with multiple stories, arched windows and doors characteristic of classical Mexican civic architecture, surrounded by crowds of citizens, symbolizing popular legitimacy of the state's authority. Both sides feature ornamental borders with repeating decorative patterns and denomination markers (the Roman numeral XX and Arabic '20') positioned in circular cartouches at the corners. The overall design employs the formal, authoritative aesthetic typical of legitimate government financial instruments.
{"front":{"issuer":"EL ESTADO DE CHIHUAHUA (The State of Chihuahua)","paymentPromise":"PAGARA AL PORTADOR EN EFECTIVO (Will pay to the bearer in cash)","denomination":"VEINTE PESOS (Twenty pesos)","legalBasis":"CONFORME AL DECRETO MILITAR DE FECHA 10 DE FEBRERO DE 1914 (In accordance with the military decree dated February 10, 1914)","location":"CHIHUAHUA MEXICO (Chihuahua Mexico)","officialTitles":"GOBERNADOR (Governor), TESORERO GENERAL (General Treasurer), INTERVENTOR (Auditor/Inspector)","dateSignatures":"ENERO 1915 (January 1915), ENERO 1916 (January 1916)","serialNumber":"4522794"},"reverse":{"institution":"TESORERIA GENERAL DEL ESTADO CHIHUAHUA (General Treasury of the State of Chihuahua)","denomination":"20 PESOS / VEINTE PESOS (Twenty pesos)","dateCode":"4-1-15 (April 1, 1915)","printerCode":"W-XLT"}}
Intaglio engraving (copperplate/steel plate engraving), evidenced by the fine-line detail work, precise cross-hatching in background areas, sharp decorative borders, intricate scrollwork, and the three-dimensional quality of the portraiture and architectural vignette. The consistent heavy ink coverage and precise registration between color elements is consistent with professional bank note printing from this era. Based on the Pick catalog designation and the quality of execution, this was likely produced by an established security printer, though the specific printer attribution for this Chihuahua series requires specialized reference material.
Pick S537b represents the 20 pesos denomination from the 1914 Chihuahua series. This specific specimen exhibits the dated signature variety with 'ENERO 1915' and 'ENERO 1916' designations, confirming it as a 1915-1916 printing from the authorized issue period. Serial number 4522794 places it within the standard numbering sequence for this series. The printer code 'W-XLT' on the reverse may indicate a specific printing contract or series identifier. Collectors should note that variations exist based on signature combinations, date designations, and serial number ranges within the broader S537 Pick number family; this particular specimen (S537b) represents one documented variety of the 20 pesos issue.
