1 Peso

Nicaragua's Tesoro Nacional — the national treasury — issued notes directly rather than through a central bank during this period, a reflection of the country's fragmented banking arrangements in the late nineteenth and early twentieth centuries. Waterlow & Sons handled a substantial share of Latin American fiscal printing at this time, and the 1 Peso falls within a series that predates the monetary reforms Nicaragua would undertake following the 1912 U.S. dollar intervention that effectively displaced the peso from large transactions.

Pick 29 is not common in any grade. Treasury-issued circulating notes of this denomination absorbed heavy use in daily commerce.