1 Boliviano

The 1928 Bolivian currency law created a new central bank to replace the private commercial banks that had previously issued notes — the Banco Central de Bolivia was established precisely to consolidate that authority, and this 1 Boliviano belongs to the first series it ever released. American Bank Note Company handled the entire production run, which stretched long enough that three distinct signature configurations appeared across the alphabetical series, reflecting personnel changes within the bank's administration over the years the stock was drawn down.

The Arce signature exists in two distinct typeface widths — large and narrow — a detail that catches out collectors who assume series letters alone define the varieties.