Mexico 1916 Oaxaca 5 Pesos "Soberano" (Serie Z / Decreto No. 18)

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

• Denomination: 5 Pesos (Cinco Pesos)

• Authorized Emission / Series: Serie Z (Authorized under Decreto No. 18 del 12 de Enero de 1916)

  • Printed black-green typography explicitly designates SERIE Z above the upper serial number and Z above the lower signature.

  • Strong yellow underlying safety underprint features large numerals 5 and denomination lettering.

• Issue Date Marked: Oaxaca de Juárez, 19 de Enero de 1916

• Catalog Reference: Pick # S878 / Frampton ME-694 (Mexican Revolutionary Paper Money)

• Serial Number: 1733850 (Repeated twice in dark olive-green typography)

• Signatures / Officials:

  • El Contador (Accountant – Manuel Urbina)

  • Left border authorization signature (José Zorrilla)

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

• Vignettes & Design Elements:

  • Face: Circular dark green medallion displaying the Mexican National Seal (eagle perched on a nopal cactus devouring a snake). Decorative corner cartouches featuring the denomination numeral 5 connected by green borders over yellow geometric lathe underprint.

  • Reverse: Portrait bust of Benito Juárez at top in green. Dark green scalloped treasury seal at left reading "TESORERÍA DEL ESTADO DE OAXACA," and Gothic legal authorization text box:

    "Este título de crédito es de circulación forzosa y tiene poder liberatorio ilimitado dentro del territorio del Estado de Oaxaca. Decreto No. 18 del 12 de Enero de 1916."

• Paper Composition: Emergency local lined ledger/stationery paper, clearly showing the faint blue horizontal rule lines.

Decree Timeline & Rarity Within Your Oaxaca Set

• Chronological Position: You now have three distinct decrees tracing the entire lifecycle of the sovereign Oaxaca state:

  1. Decreto No. 2 (June 1915 - Serie U / 1 Peso): The opening declaration of independence.

  2. Decreto No. 5 (Nov 1915 - Serie Especial [A] / 1 Peso): The high-tide reorganized sovereign currency.

  3. Decreto No. 18 (Jan 1916 - Serie Z / 5 Pesos): The final emergency chapter.

• The "Twilight" Emission: Authorized on January 12, 1916 and printed on January 19, 1916, this note was produced less than two months before federal Carrancista forces under General Jesús Agustín Castro stormed Oaxaca City in March 1916.

• Higher Denomination & Late Block: Denominated in 5 Pesos and designated with the final alphabet block Serie Z, it represents the state's urgent effort to keep liquidity moving before their mint and presses were overrun.

Technical & Visual Assessment

• Technical Grade: About Uncirculated (AU 50 – AU 55)

• Preservation Highlights:

  • Premium, near-uncirculated preservation on fragile emergency lined ledger paper.

  • Extremely crisp, stiff paper body with fully intact fibers.

  • Lacks heavy circulation creases or handling grime; shows only minor faint handling waves and slight natural paper waviness from the press drying.

  • Edges are sharp and clean without margin tears, chips, or pinholes.

  • Bold, unfaded color contrast across the dark green intaglio-style typography, Benito Juárez reverse portrait, and yellow underprint.

• Centering: Well-proportioned margins for a provincial emergency letterpress issue.

Collector Value & Market Pricing

• Legal Tender Status: Demonetized in March 1916 following federal occupation.