1 Boliviano

The Banco de la Nación Boliviana was established by law in 1909 specifically to consolidate the chaotic plurality of private banks — several of which had been issuing their own competing notes with questionable reserve backing. This note is among the earliest emissions from that new state-aligned institution, printed by Waterlow & Sons in London before Bolivia had any domestic printing capacity worth the name.

Waterlow held printing contracts across much of South America during this period, and the quality of the intaglio work on Bolivian issues from this run is noticeably higher than on the private bank notes it replaced.