1 Boliviano Banco Nacional de Bolivia

The Banco Nacional de Bolivia was founded in 1871 under a government concession and held the privilege of note issue during a period when Bolivia was still finding its monetary footing after decades of post-independence instability. The American Bank Note Company contract was typical of the period — South American banks repeatedly turned to New York and London engravers because domestic printing infrastructure simply did not exist at the required security standard.

The S-prefix in the Pick reference indicates this is catalogued as a private or provincial issue rather than a central government emission — a distinction that mattered enormously to creditors at the time, since the national government did not formally guarantee these notes.