10 Pesos

The Aguan Navigation and Improvement Company was a U.S.-backed enterprise operating in the Aguán River valley of Honduras during the 1880s, primarily engaged in banana cultivation and river transport concessions. Private company scrip of this type filled a practical gap — hard currency was chronically scarce in Honduras's Caribbean lowlands, and labor camps operated far enough from any banking infrastructure that employers effectively ran their own monetary systems.

American Bank Note Company printed this in New York, which was routine for Latin American private and government issues of the period. ABNC's involvement guarantees a certain engraving quality, though the company didn't much distinguish between a sovereign client and a fruit concession.

Pick lists only a handful of Aguan issues; P#105 is among the higher denominations, suggesting it was intended for payroll settlement rather than daily camp transactions.