Mexico – State of Chihuahua 1914 1 Peso "Dos Caritas" (Serie A, Control X-MQS)

• Issuing Authority: State of Chihuahua (El Estado de Chihuahua) under General Francisco "Pancho" Villa

• Denomination: 1 Peso (Un Peso)

• Plate Decree Date: 10 de Febrero de 1914 (Chihuahua, Chihuahua, México)

• Series: Serie A

• Catalog Reference: Pick # S534 / S535

• Serial Number: № 6761430 (Printed in red typography at lower left and lower right)

• Face Portraits:

  • Left: Abraham González (Governor of Chihuahua and early revolutionary patron to Villa)

  • Right: Francisco I. Madero (President of Mexico and catalyst of the 1910 Revolution)

• Reverse Vignette: The Chihuahua State Government Palace (Palacio de Gobierno)

• Reverse Control Markings:

  • Red scalloped circular seal: Tesorería General del Estado - Chihuahua (Right flank)

  • Red control series overprint: X-MQS (Left flank)

  • Center: Plain courtyard (no central red datestamp)

Historical Context

• Known universally as the "Dos Caritas" (Two Little Faces) banknote, this design served as the financial backbone of Pancho Villa’s División del Norte.

• Like the F-GSN note from your collection, this piece carries a red verification series block (X-MQS) alongside the official Chihuahua Treasury cachet.

• These variable letter combinations were applied by Villa’s treasury throughout 1914 and 1915 to track distribution batches and separate genuine military issues from the unauthorized commercial counterfeits flooding the U.S.–Mexico border.

Technical & Visual Assessment

• Technical Grade: Very Fine (VF 20 – VF 25)

• Preservation Highlights:

  • Paper Body & Margins: Excellent overall integrity with full, untrimmed borders on all four sides. Free of edge tears, margin notches, or pinholes.

  • Folds & Handling: A clearly defined vertical center fold is present, with some minor vertical creasing down the center margin and light secondary handling waves.

  • Surface Toning & Foxing: Displays mild, authentic age toning across the white margins. Noticeable light brown foxing/toning flecks appear near the lower-center border on the face.

  • Ink & Stamping: Deep slate-blue intaglio ink with clean portrait vignettes. Both serial numbers 6761430 and the reverse X-MQS / Tesorería General stamps retain bold, unfaded red pigment.