1 Peso

Honduras issued its first domestic paper money in 1848, when the Estado de Honduras — not a central bank, but the state government itself — put these notes into circulation. The absence of any banking infrastructure meant the note relied on a wax seal as its primary authentication, a pre-industrial security measure already considered obsolete in most contemporary note-issuing jurisdictions. Central American paper currency of this vintage is exceptionally rare at auction; most issues from the region in this period were redeemed, destroyed, or simply rotted in tropical conditions.