500 Bolívares

Banco de Venezuela was a private commercial bank, not a central bank — Venezuela had no central bank until 1940. Notes like this one circulated as commercial paper backed by the bank's own reserves, operating under government concession. The 500 Bolívares denomination was substantial for the period, placing this note firmly in the realm of business and interbank transactions rather than everyday commerce.

American Bank Note Company's work for Venezuelan issuers during the 1920s is well documented. The single watermark security feature reflects the era's modest expectations for high-value commercial notes in South American markets — intaglio printing was considered the primary deterrent to counterfeiting.