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1 Peso Banco Nacional
| Issuer | Banco Nacional de la República Oriental del Uruguay |
|---|---|
| Year | 1887 |
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| Reference(s) | P#A90 |
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|---|---|
| Obverse lettering | UN PESO BANCO NACIONAL de la REPÚBLICA ORIENTAL del URUGUAY Pagarémos al portador y a la vista UN PESO Moneda Nacional Oro Sellado con arreglo a la ley de 23 de junio de 1862 MONTEVIDEO 25 de Agosto de 1887 (Translation: One Peso National Bank of the Oriental Republic of Uruguay We will pay to bearer and at sight One Peso National Gold Currency in accordance with the law of June 23rd, 1862 Montevideo August 25th, 1887) |
| Reverse description | A central allegorical vignette presents a seated female figure accompanied by an anchor and a caduceus, emblems of commerce and stability. The issuer's name is arranged in a semicircular arc above the vignette, and the denomination in both numerals and words is repeated across the upper, lower, and lateral borders within ornate guilloche panels. |
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| Comments |
Waterlow & Sons produced this note during a period when Uruguayan banking was genuinely chaotic. The Banco Nacional had been established in 1887 with significant government backing as part of an effort to consolidate a fragmented system of competing private banks — some of which were printing their own notes with very little reserve discipline. The Banco Nacional itself collapsed in 1890, caught in the broader regional financial crisis that devastated Argentina and Uruguay simultaneously.
That three-year window of operation makes any surviving 1887 issue uncommon by default. Most circulated hard and briefly before the institution failed.