20 Bolivianos

The Banco Nacional de Bolivia was a private commercial institution operating under government concession — not a central bank. It held note-issuing privileges during a period when Bolivia had no unified national currency authority, and several private banks competed for that role simultaneously. That arrangement ended when the Banco de la Nación Boliviana was established in 1911, effectively retiring the Nacional's circulation rights and making 1910 issues among the last produced under this concession.

ABNC printed the series in New York using intaglio plate work typical of their South American commercial contracts of that decade. Surviving examples often show horizontal fold fatigue at the center — the format encouraged folding in thirds for pocket storage.