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10 Pesos

Issuer Tesoro Nacional de Nicaragua
Year 1900
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Value 10 Pesos
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Reverse description Printed in dull purple, the reverse is dominated by an elaborate guilloche pattern with floral rosettes filling the entire field. The Nicaraguan Coat of Arms is set within a circular medallion at center, flanked on each side by the numeral "10" above the legend "DIEZ PESOS" within ornate cartouches. The inscriptions "TESORO NACIONAL" and "REPÚBLICA DE NICARAGUA" arc around the central vignette, and the printer's imprint appears along the bottom margin.
Reverse lettering TESORO NACIONAL - REPÚBLICA DE NICARAGUA 10 DIEZ PESOS Waterlow & Sons Ltd. Londres, Inglaterra
(Translation: National Treasury - Republic of Nicaragua Ten Pesos Waterlow & Sons Ltd., London, England)
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Comments

The Tesoro Nacional de Nicaragua — the national treasury rather than a central bank — issued paper currency directly during this period, a reflection of Nicaragua's fragmented monetary infrastructure around the turn of the century. Waterlow & Sons handled a substantial portion of Central American government printing at this time, and their work for Managua followed the same commercial contract model used across the region.

Pick 31 is scarce. Nicaragua saw considerable political instability in the years immediately following 1900, and treasury notes of this type were frequently demonetized or simply lost to poor storage in the tropics.

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