50 Bolívares

The Banco de Venezuela was a privately held commercial bank operating under government concession — it was not a central bank, and these notes circulated as private commercial paper rather than state currency. The 50 Bolívares denomination was substantial for 1924 Venezuela, a country still operating largely on coffee and petroleum revenues that had only begun to transform the economy in the early 1920s following the Maracaibo oil discoveries.

American Bank Note Company's intaglio work on Venezuelan private bank issues of this period is generally fine, though the watermark is the sole mechanical security feature — no serial number varieties or overprint sequences are known to distinguish early from late printings within this Pick number.