100 Bolívares

The Banco Venezolano de Crédito was a private commercial bank, and this note is one of several regional issues that circulated alongside the output of the Banco Central — which didn't exist yet. Venezuela had no central bank until 1940, and through the 1920s the country's paper currency was a patchwork of competing private bank issues, each theoretically redeemable but practically dependent on the issuing institution's solvency.

The ABNC printing is unsurprising; the company handled most serious Latin American bank contracts in this period. The watermark is the sole security feature — thin protection, but typical of what private Venezuelan banks requested and could afford.