1913 Mexico Banco del Estado de Chihuahua 50 Pesos Train Note PMG 65 EPQ P-S135a ABNC

1913 Mexico Banco del Estado de Chihuahua 50 Pesos Train Note PMG 65 EPQ P-S135a ABNC

Offered here is a spectacular 50 pesos note issued by El Banco del Estado de Chihuahua, dated 1913 and printed by the American Bank Note Company, New York. This type is cataloged as Pick S135a / M98a and this example carries low serial number A 01725, independently certified and encapsulated by PMG as Gem Uncirculated with Exceptional Paper Quality (EPQ).

Historical significance

Issued at the height of the Mexican Revolution, this note represents the turbulent finances of northern Mexico in the early 1910s. Regional banks such as the Banco del Estado de Chihuahua were crucial in funding commerce and, in many cases, revolutionary movements. The 1913 date places this issue amid intense fighting between federal forces and revolutionary factions led by figures like Pancho Villa and Venustiano Carranza, making it a fascinating artifact of Mexico’s struggle to redefine its political and economic order.

The powerful steam locomotive on the face celebrates the rapid expansion of the railway network, which was vital for moving troops, supplies, and trade across the vast northern states. Railroads were both symbols of modernization and strategic assets fiercely contested during the revolution, so their appearance on currency is especially meaningful.

Design and features

Obverse

The front of the note is a masterwork of ABNC intaglio engraving in black with vibrant multicolor underprints. At the center is a dramatic vignette of a steam locomotive thundering down the track past a small station building, with passengers and workers gathered on the platform. Billowing smoke and mountains in the distance add depth and movement to the scene.

Large, ornate “50” denomination counters appear in all four corners, while multicolored guilloché rosettes with bold “50” numerals flank the central train vignette left and right. The bank title “EL BANCO DEL ESTADO DE CHIHUAHUA” dominates the upper border, and the lower banner spells out “CINCUENTA PESOS – VALOR ORO NACIONAL”, emphasizing the note’s gold-backed value. Intricate scrollwork panels frame the design, and fine micro-printing and border work provide strong anti-counterfeiting elements typical of early 20th-century ABNC production.

Reverse

The back is printed in striking orange, with luxuriant lathework filling the entire surface. At center is an oval shield featuring the state emblem of Chihuahua—a proud eagle rising above a landscape—surrounded by laurel branches and topped by a ribbon bearing the bank’s name. Large “50” counters, set within layered guilloché devices, occupy all four corners and the central side panels, leaving no doubt about the denomination. The legend “ESTADO DE CHIHUAHUA” appears in a bold cartouche along the lower border, with the printer’s imprint AMERICAN BANK NOTE COMPANY, NEW YORK beneath.

The combination of a realistic railway vignette, state arms, and ornate ABNC engraving makes this one of the most visually compelling Mexican state bank issues.

Remarkable denomination

At 50 pesos and explicitly designated “valor oro nacional”, this note represented a substantial amount of money in 1913, equivalent to a significant sum in gold. High-denomination notes from the revolutionary period saw intense circulation and were often redeemed, withdrawn, or destroyed as governments changed and monetary reforms followed. Surviving pieces—particularly in gem condition—are accordingly scarce and highly prized.

Catalog and reference

• Country: Mexico

• State: Chihuahua

• Issuer: Banco del Estado de Chihuahua

• Date: 1913

• Denomination: 50 Pesos

• Catalog: Pick S135a / M98a

• Printer: American Bank Note Company (ABNC)

• Central vignette: Steam locomotive at station

• Reverse: State emblem of Chihuahua, ornate orange guilloché

Collector’s value

For specialists in Mexican paper money or railroad-themed notes, this 1913 Banco del Estado de Chihuahua 50 pesos is a premier type: a large gold-backed denomination, dramatic steam-train vignette, and classic ABNC craftsmanship, all encapsulated by PMG as Gem Uncirculated with EPQ. Revolutionary-era Mexican state banknotes are increasingly recognized for both their artistry and historical depth; this high-grade example would make an outstanding centerpiece in any collection focused on Mexico, early 20th-century banking, or transportation on banknotes.