1 Peso - Banco de Quito

The Banco de Quito was one of Ecuador's earliest private commercial banks, chartered in 1868 and operating during a period when the country's note-issuing system was fragmented across several regional institutions. ABNC supplied plates and printed notes for a significant number of Ecuadorian banks during this period, and the quality differential between their product and locally printed alternatives was considerable — a practical reason why provincial banks sought New York suppliers despite the logistical cost.

P#S241 falls in the "S" (Specialized) series, indicating a private bank rather than a national authority issue. Surviving examples are scarce; Ecuadorian private bank paper from the 1880s suffered heavy attrition during subsequent currency reforms.