10 Pesos Banco de Nicaragua

Banco de Nicaragua was a private commercial bank granted note-issuing privileges by the Nicaraguan government — not a central bank. It operated during a period when the country had no unified monetary authority, and multiple competing institutions issued their own currency. Waterlow & Sons printed the series in London, as was customary for Central American institutions lacking domestic printing infrastructure sophisticated enough for security paper.

P#S124 falls in the "S" (Specialized) catalogue section, meaning it circulated in a regional or semi-official capacity rather than as the primary national currency of the period.