10 Pesos

Banco Nacional del Salvador was chartered in 1891 and held the right of note issue in El Salvador until the Banco Agrícola Comercial briefly challenged that monopoly in the early 1900s. By 1907, political pressure on the government to consolidate financial control was already building — this series was issued during a period when the bank's future as sole issuer was far from guaranteed. Within a decade, the whole Salvadoran private banking system would be restructured.

The American Bank Note Company engraved and printed the full series from its New York facility, as it did for dozens of Latin American issuers during this period. Salvadoran notes from this era are scarce in any condition — circulation in rural areas was rough on paper currency, and institutional preservation was inconsistent at best.