{"product_id":"mexico-p-s1124a-merida-yucatan-comision-reguladora-del-mercado-de-henequen-20-pesos-1914-unc-but-with-pinhole","title":"Mexico  P-S1124a—Mérida, Yucatán—Comisión Reguladora del Mercado de Henequén 20 pesos 1914 UNC but with pinhole","description":"\u003cp\u003eAt the moment only Series C is left for sale.\u003c\/p\u003e\n\u003cp\u003eType P-S1124a = red seal on reverse but no other overprint (\"ORO\", commission name, place, date)\u003c\/p\u003e\n\u003cp\u003eCondition: as uncirculated but with one pinhole.\u003c\/p\u003e\n\u003ch3\u003eBanknote Characteristics\u003c\/h3\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eVarieties:\u003c\/strong\u003e\u003cul\u003e\n\u003cli\u003eP-S1124a — Red seal on reverse only; no overprint (this note)\u003c\/li\u003e\n\u003cli\u003eP-S1124b — Overprinted \"Oro\" + \"Resellado por la Comisión Reguladora del Mercado de Henequen\" + date on reverse\u003c\/li\u003e\n\u003cli\u003eP-S1142c — Overprinted \"Resellado por la Comisión Reguladora del Mercado de Henequen\" + date (25 April 1915) on reverse\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eColor:\u003c\/strong\u003e Obverse: black and red on cream; Reverse: blue on cream\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFront:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Palacio_de_Gobierno_(M%C3%A9rida)\" target=\"_blank\"\u003ePalacio de Gobierno\u003c\/a\u003e in Mérida at left center; illustration of \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Henequen\" target=\"_blank\"\u003ehenequen\u003c\/a\u003e (\u003cem\u003eAgave fourcroydes\u003c\/em\u003e) processing at right center; denomination \"XX\" in red across center background; \"VEINTE PESOS\" in white on red band at bottom; Series C; printed by Talleres de Fot. y Fotograbado \"Guerra\", Mérida\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eBack:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Las_Monjas_(Chich%C3%A9n_Itz%C3%A1)\" target=\"_blank\"\u003eIglesia (Church) of the Las Monjas complex\u003c\/a\u003e at \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Chich%C3%A9n_Itz%C3%A1\" target=\"_blank\"\u003eChichén Itzá\u003c\/a\u003e at center in circular frame; \"VEINTE PESOS\" in white on blue repeated six times around edges; red oval seal of the Comisión Reguladora at center right\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eWatermark:\u003c\/strong\u003e None\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eComposition:\u003c\/strong\u003e Paper\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssuing entity:\u003c\/strong\u003e Comisión Reguladora del Mercado de Henequen, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/M%C3%A9rida,_Yucat%C3%A1n\" target=\"_blank\"\u003eMérida\u003c\/a\u003e, \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Yucat%C3%A1n\" target=\"_blank\"\u003eYucatán\u003c\/a\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003ePrinter:\u003c\/strong\u003e Talleres de Fot. y Fotograbado \"Guerra\", Mérida\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eDemonetized:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Demonetization_(currency)\" target=\"_blank\"\u003eDemonetized\u003c\/a\u003e — emergency issue of the \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mexican_Revolution\" target=\"_blank\"\u003eMexican Revolution\u003c\/a\u003e; no longer valid\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSignatures:\u003c\/strong\u003e Signed on behalf of the Tesorería General del Estado de Yucatán\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCurrency:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mexican_peso\" target=\"_blank\"\u003eMexican peso\u003c\/a\u003e (1863–1992)\u003c\/li\u003e\n\u003c\/ul\u003e\u003ch3\u003eAbout Yucatán \/ Mexico\u003c\/h3\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eIssuing state:\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Yucat%C3%A1n\" target=\"_blank\"\u003eState of Yucatán\u003c\/a\u003e, southeastern Mexico; capital Mérida\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eCapital (national):\u003c\/strong\u003e \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mexico_City\" target=\"_blank\"\u003eMexico City\u003c\/a\u003e (city pop. ~9.2 million; metro pop. ~21.7 million)\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003ePopulation (Mexico):\u003c\/strong\u003e ~130 million (UN 2024) — similar to Russia; between Germany and Japan\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eArea (Mexico):\u003c\/strong\u003e 1,964,375 km² (~758,449 mi²) — similar to Alaska and Texas combined; between Kazakhstan and Saudi Arabia\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eGDP per capita at \u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Purchasing_power_parity\" target=\"_blank\"\u003ePPP\u003c\/a\u003e:\u003c\/strong\u003e ~$23,000 USD (IMF 2024) — ranks ~77th out of 193 globally\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eMain exports:\u003c\/strong\u003e Manufactured goods, vehicles, electronics, oil, agricultural products\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eSovereignty:\u003c\/strong\u003e\u003cul\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/New_Spain\" target=\"_blank\"\u003eNew Spain\u003c\/a\u003e (colonial, 1521–1821)\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/First_Mexican_Empire\" target=\"_blank\"\u003eFirst Mexican Empire\u003c\/a\u003e (1821–1823)\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mexico\" target=\"_blank\"\u003eRepublic of Mexico\u003c\/a\u003e (1824–date, with interruptions)\u003c\/li\u003e\n\u003cli\u003e\n\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Mexican_Revolution\" target=\"_blank\"\u003eMexican Revolution\u003c\/a\u003e (1910–1920) — this note issued during this period\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\u003ch3\u003eYucatán Unfiltered\u003c\/h3\u003e\u003cul\u003e\n\u003cli\u003eIn 1914, \u003cstrong\u003e\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Henequen\" target=\"_blank\"\u003ehenequen\u003c\/a\u003e\u003c\/strong\u003e — the agave fiber used to make rope and twine — was so economically dominant in Yucatán that the state issued its own currency backed by it. The \u003cstrong\u003eComisión Reguladora del Mercado de Henequen\u003c\/strong\u003e controlled the entire supply chain and effectively ran the state’s finances during the Revolution.\u003c\/li\u003e\n\u003cli\u003eYucatán was so isolated from central Mexico during the Revolution that it operated almost as an independent entity — printing its own money, controlling its own ports, and negotiating directly with US buyers for henequen fiber used in American grain harvesting machinery.\u003c\/li\u003e\n\u003cli\u003eThe \u003cstrong\u003e\u003ca href=\"https:\/\/en.wikipedia.org\/wiki\/Las_Monjas_(Chich%C3%A9n_Itz%C3%A1)\" target=\"_blank\"\u003eIglesia at Chichén Itzá\u003c\/a\u003e\u003c\/strong\u003e on the reverse was built by the Spanish on top of earlier Maya structures — a colonial church grafted onto a pre-Columbian ceremonial complex. It appears on a revolutionary banknote issued 400 years later.\u003c\/li\u003e\n\u003cli\u003eThe \u003cstrong\u003eNumista rarity index for this note is 100\u003c\/strong\u003e — the maximum possible score, indicating extreme scarcity among collectors worldwide.\u003c\/li\u003e\n\u003c\/ul\u003e\u003ch2\u003eA Currency Backed by Rope Fiber, Issued During a Revolution\u003c\/h2\u003e\u003cp\u003eIn November 1914, with Mexico in the middle of its revolution and central authority collapsed, the state of Yucatán issued its own money — backed not by gold or silver but by \u003cstrong\u003ehenequen\u003c\/strong\u003e, the agave plant whose fiber made the rope that tied the grain sheaves of North America. The Comisión Reguladora controlled the crop, the market, and now the currency. This note is a document of that moment: a state acting alone, printing its own promises, illustrated with a colonial palace and a Maya ruin.\u003c\/p\u003e\u003ch2\u003eChichén Itzá on the Back of a Revolutionary Banknote\u003c\/h2\u003e\u003cp\u003eThe circular vignette on the reverse shows the \u003cstrong\u003eIglesia of Las Monjas\u003c\/strong\u003e at Chichén Itzá — a Spanish colonial church built directly onto Maya foundations. The choice of image is not accidental. Yucatán’s identity in 1914 was layered: Maya, colonial, and now revolutionary. The note carries all three.\u003c\/p\u003e\u003ch2\u003eOwn One of the Rarest Mexican Revolutionary Banknotes in Existence\u003c\/h2\u003e\u003cp\u003eWith a Numista rarity index of 100 — the maximum — this P-S1124a is among the scarcest documented Mexican banknotes. Series C, dated 20 November 1914, red seal only, no overprint. One pinhole. Otherwise as uncirculated.\u003c\/p\u003e\u003cp\u003eA note that financed a revolution with agave fiber and printed a Maya ruin on the back.\u003c\/p\u003e","brand":"World Money Store","offers":[{"title":"Default Title","offer_id":51844280647991,"sku":"MXS1124aAU","price":49.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0969\/7165\/3431\/files\/MX-S1124a-20-pesos-1914-_YUC-MER-CRMH_-o.jpg?v=1774979687","url":"https:\/\/worldmoneystore.com\/products\/mexico-p-s1124a-merida-yucatan-comision-reguladora-del-mercado-de-henequen-20-pesos-1914-unc-but-with-pinhole","provider":"World Money Store","version":"1.0","type":"link"}