1 Colón

Banco Salvadoreño was one of several private commercial banks authorized to issue currency in El Salvador before the government nationalized that privilege with the founding of the Banco Central de Reserva in 1934. The American Bank Note Company held most of these Salvadoran private bank contracts, and the physical notes were shipped from New York for local signing and issue — a common enough arrangement, though it left El Salvador's money supply dependent on transit times and foreign production schedules.

The S-prefix in the Pick reference places this squarely in the private bank series. By the early 1920s, the days of multi-bank note issuance in Central America were already numbered.