50 Centavos

Nicaragua's Tesoro Nacional issued this fractional note during a period of acute financial instability — the country was effectively insolvent by 1911, when a U.S.-brokered loan agreement placed its customs revenues under American receivership. This 50 Centavos note predates that intervention by a year, making it part of the final issues produced under genuinely independent Nicaraguan fiscal authority before external creditors took control.

The American Bank Note Company's involvement here is purely commercial — ABNC handled currency printing for dozens of Latin American governments in this period, and the Nicaraguan account was one of several small-denomination fractional contracts they ran simultaneously out of New York.