1 Peso

Nicaragua's first nationally issued paper money. The Tesorería General — not a central bank, but the state treasury — issued this note directly, a common arrangement in Latin America before proper banking legislation took hold. The Homer Lee Bank Note Company, though less prominent than the American Bank Note Company, was a legitimate New York security printer active through the 1880s and handled several Central American commissions during this period.

As Pick #1, this is the first catalogued note of the Nicaraguan paper money series. Survival rates for inaugural Latin American treasury issues of this decade are generally low — the political instability of 1880s Nicaragua didn't help.