Mexico 1915 Oaxaca 1 Peso "Soberano" (Serie U / Decreto No. 2)

• Issuing Authority: General Treasury of the Free and Sovereign State of Oaxaca (La Tesorería General del Estado de Oaxaca)

• Denomination: 1 Peso (Un Peso)

• Authorized Emission / Series: Serie U (Authorized under Decreto No. 2 del 19 de Febrero de 1915)

  • Red typography clearly designates SERIE U above the upper serial number and U above the lower signature.

  • Yellow underlying safety underprint displays vertical denomination lettering across the left field.

• Issue Date Marked: Oaxaca de Juárez, 26 de Junio de 1915 (Authorized under the February 19, 1915 decree)

• Catalog Reference: Pick # S863 / Frampton ME-675 (Mexican Revolutionary Paper Money)

• Serial Number: 409583 (Repeated twice in red-orange typography)

• Signatures / Officials:

  • El Contador (Accountant – Manuel Urbina)

  • Left margin authorization signature (José Zorilla)

• Printer Imprint: Tipografía & Linotipia del Gobierno del Estado, Oaxaca (Lower left border)

• Vignettes & Symbolism:

  • Face: Circular green medallion displaying the Mexican National Seal (the Mexican golden eagle perched on a nopal cactus grasping a serpent). Intricate green border frame with red-and-orange guilloche accents enclosing a yellow geometric underprint.

  • Reverse: Portrait bust of Benito Juárez printed in green at the top. Red scalloped treasury seal at center right, and Gothic legal authorization text:

    "Este título de crédito es de circulación forzosa y tiene poder liberatorio ilimitado dentro del territorio del Estado de Oaxaca. Decreto No. 2 del 19 de Febrero de 1915."

• Paper Composition: Emergency local lined ledger/stationery paper, identifiable by faint horizontal ruling.

Key Distinctions from Your Previous Note

• Decree & Timeline: Your previous note was authorized under the later Decreto No. 5 del 10 de Julio de 1915 (Serie Especial / Serie A). This piece comes from the earlier Decreto No. 2 del 19 de Febrero de 1915, dated 26 de Junio de 1915—the very month Governor José Inés Dávila formally broke ties with the Carranza administration to declare state sovereignty.

• Series Run: Classified as Serie U, which represents one of the final alphabetized blocks of the Decreto No. 2 emission before the state transitioned into the reorganized Serie Especial decrees later that summer.

Technical & Visual Assessment

• Technical Grade: Extremely Fine (XF 40 – XF 45)

• Preservation Highlights:

  • Exceptionally clean for fragile, non-security provincial paper stock.

  • Noticeably superior centering compared to the previous Serie A note, with wide, even borders framing all four sides.

  • Shows only faint handling ripples and light horizontal wave marks, with no heavy center creases or deep breaks in the paper fibers.

  • Corners remain squared and intact without fraying, tears, pinholes, or edge chips.

  • Red serial inks and green engraved elements—especially Juárez's portrait—retain sharp, un-faded color contrast.

Collector Value & Market Pricing

• Legal Tender Status: Demonetized in 1916.