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| 背面描述 | The reverse is printed in green and displays the issuer's name 'AGUAN NAVIGATION AND IMPROVEMENT COMPANY Co.' within an ornate guilloche border at the top centre, with the denominal numerals '50' repeated in each corner. The overprinted legends 'UNITED STATES' and 'REPÚBLICA DE HONDURAS' appear prominently across the centre field within interlocking guilloche panels, and a bilingual redemption text in Spanish occupies the lower central panel. |
| 背面铭文 | AGUAN NAVIGATION AND IMPROVEMENT Co. UNITED STATES REPÚBLICA DE HONDURAS 50 PESOS 50 DOLLARS |
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The Aguan Navigation and Improvement Company was a U.S.-backed concession enterprise operating in the Aguán River valley of Honduras during the 1880s, granted rights to develop navigation, land, and infrastructure along that corridor. Private companies holding such concessions occasionally issued scrip or negotiable instruments to facilitate payroll and local commerce where hard currency was scarce or impractical to transport inland.
The American Bank Note Company engraved and printed this note in New York — the same firm producing sovereign currency for multiple Latin American republics at the time. That a private concession company could commission ABNC work speaks to the financial ambitions, and perhaps the short-lived optimism, of the venture.
Pick 107 is among the higher denominations in this obscure series, and surviving examples are rarely encountered at auction.