5 Bolivianos

Pick 120 had an unusually long production run for a single denomination from this period — the signature progressions across series A through P6 document well over two decades of continuous reissue from a single ABNC plate design, with the same 1928 date frozen on every note regardless of when it actually printed. Bolivia's chronic fiscal instability through the 1930s and into the 1940s meant the note circulated alongside emergency issues and parallel instruments, yet this series was never formally superseded until the broader monetary reforms of the 1950s.

Six distinct signature combinations across that run is unusually high. Each change reflects a ministerial or directorial turnover — the Chaco War period (1932–35) accounts for at least one of the mid-series transitions.