100 Pesos

Banco de Guatemala was a private commercial bank operating under government concession, not a central bank — Guatemala's central bank wasn't established until 1926, the same year this series was retired. That distinction matters: these notes circulated alongside issues from at least two rival concession banks, and their acceptance was never fully guaranteed outside the capital.

The American Bank Note Company held the printing contract throughout the entire run, an unusually long tenure spanning three decades and multiple political administrations, including the Estrada Cabrera dictatorship that dominated the country from 1898 to 1920.

The 100 Peso denomination would have represented serious purchasing power — not a note that moved through ordinary hands with any frequency.