100 Pesos

The Estado de Honduras issues of the 1860s are among the rarest early Latin American provincial notes, and P#6I sits at the top of that scarcity ladder. Honduras had no central bank in 1862 — wouldn't have one until the twentieth century — so these notes were issued directly by the state government under chronic fiscal pressure, with almost no institutional infrastructure to manage redemption or supply.

The "I" suffix in the Pick reference denotes an issued note, distinguishing it from the remainders (P#6r) that make up the overwhelming majority of surviving examples. Genuinely circulated issued specimens are exceedingly rare.