10 Pesos

Banco de la República Oriental del Uruguay was established by law in 1896, the same year this note was issued — making this among the earliest paper from that institution. Giesecke & Devrient had by this point built a substantial client list among Latin American central banks, and the Leipzig firm's work for Uruguay reflects a pattern of newly consolidated national banks contracting European printers rather than developing domestic capacity.

Pick 5 is scarce. Low surviving populations across this entire founding series suggest limited original print runs combined with heavy attrition in tropical storage conditions.