50 pesos 1915
About This Note
This is an exceptionally well-preserved example of a 50 peso emergency currency issued by the State of Oaxaca's Treasury in November 1915, during the Mexican Revolution. The note displays characteristic revolutionary-era design elements including ornate red and blue printing, a profile portrait in a blue circular medallion on the obverse, and a formal portrait with the State seal on the reverse. Despite over a century of age, the note remains in AU condition with only light foxing and minimal circulation wear, making it a desirable specimen for collectors of Mexican revolutionary currency.
Uncommon. Revolutionary-era state currencies from Oaxaca exist in relatively limited quantities due to the localized and temporary nature of their circulation and the tumultuous period in which they were produced. The high AU grade is notably scarce for this issue, as most surviving examples show heavier circulation wear. While not extremely rare, well-preserved specimens command collector interest and are not frequently encountered in the market.
This note represents a critical moment in Mexican history when state governments, including Oaxaca, issued emergency paper currency during the tumultuous Mexican Revolution (1910-1920). The decree dated November 8, 1915, authorizing this currency reflects the fiscal crisis and disruption of normal monetary systems that characterized the revolutionary period. The formal governmental language ('Tesoreria General del Estado de Oaxaca' and the official seal) demonstrates the state's attempt to maintain institutional authority and legitimacy while managing economic chaos through forced-circulation decree.
The obverse features a male portrait in profile facing left, positioned within a distinctive blue circular medallion frame—a common design element in Mexican revolutionary currency for emphasizing official authority. The note is dominated by red and orange ornate decorative borders with repeating fan-like and leaf/shell motifs characteristic of early 20th-century Mexican security printing. The reverse displays a more formal portrait of a man in three-quarter view wearing official attire, accompanied by an elaborate red seal featuring the shield emblem of the Oaxaca State Treasury (Tesoreria del Estado de Oaxaca). Both sides employ symmetrical compositional layouts with decorative scrollwork in the corners and botanical patterns along the margins. The dual-color printing in red/brown and blue, combined with fine line engraving techniques visible in the portraits, reflects the sophisticated printing standards maintained even during wartime currency production.
FRONT SIDE: 'CINCUENTA PESOS' (Fifty Pesos); 'LA TESORERIA GENERAL' (The General Treasury); 'SERIE LZ' (Series LZ); 'DEL ESTADO DE OAXACA' (Of the State of Oaxaca); Serial number: 3063; 'Pagará al portador en efectivo' (Will pay to the bearer in cash); 'Oaxaca de Juárez, 10 de Noviembre de 1915' (Oaxaca de Juarez, November 10, 1915); 'El Tesorero' (The Treasurer); 'El Contador' (The Accountant). BACK SIDE: 'Este título de crédito es de circulación forzosa, y podrá ser liberatorio ilimitado de conformidad con el artículo del Estado de Oaxaca' (This credit title is of forced circulation, and may be unlimited liberatory in accordance with the article of the State of Oaxaca); 'Decreto número 6 del 8 de Noviembre de 1915' (Decree number 6 of November 8, 1915); 'TESORERIA DEL ESTADO DE OAXACA' (Treasury of the State of Oaxaca); 'TIPOGRAFIA DE LA CASA DE GUNA. OAXACA' (Typography of the House of Guna. Oaxaca).
Intaglio engraving (line engraving) combined with letterpress printing, utilizing red/brown and blue inks as primary colors with possible overprinting. The printer is identified on the reverse as 'Tipografia de la Casa de Guna' (House of Guna Printing), located in Oaxaca. The fine detail visible in the portrait rendering and decorative borders indicates professional engraved dies, typical of legitimate state currency production during the Mexican Revolution period. The ornate security borders and multi-color printing served as anti-counterfeiting measures.
Series LZ, Serial number 3063. This specific variety is identifiable by its series designation and the date of November 10, 1915 (two days after the decree authorization). The presence of handwritten signatures of the Treasurer (El Tesorero) and Accountant (El Contador) is typical for this issue. No major overprints or significant variety features are visible on this specimen. The blue circular stamp or seal mark visible over the portrait on the obverse may represent a vault or authentication mark from a later institutional holder rather than an original production variety.
