These 1914 5 Pesos notes recall an intriguing chapter in Mexico’s history. They were issued during the Mexican Revolution, first by Venustiano Carranza, the “First Chief” of the Constitutional Government, who governed in Mexico City from 1917-1920. Initially aligned with revolutionaries like Pancho Villa, Carranza would be forced out from his position and city due to his policies before his assassination.
Later these same notes would be re-issued by the newly formed Conventionalists Government with red overprint that translates to Revalidated – by Decree December 17, 1914. The face of this note features Liberty seated at left with the Mexico seal, an eagle with a snake at center with volcanos in the background and red overprint. Back features a One Peso coin at center and red seal overprints.