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20 Centavos
| Issuer | Tesoro Nacional de Nicaragua |
|---|---|
| Year | 1894 |
| Type | Standard circulation banknote |
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| Obverse description | Black letterpress print on brown and green guilloche underprint. The Nicaraguan coat of arms — an equilateral triangle enclosing a volcanic landscape with a rising sun, flanked by the national motto ribbons and surrounded by a wreath — occupies the upper left, with the large denomination numeral '20' in ornate block lettering at the lower right corner. The centre carries the issuer title 'Tesoro Nacional' in decorative script above a block of legal-tender text, with a rosette guilloche underprint bearing the numeral '20' in the lower centre and three signature lines for El Ministro de Hacienda, El Presidente, and El Tesorero. |
|---|---|
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| Variants | P#18a - with P#18b - without |
| Comments |
Payot, Upham & Co. operated out of San Francisco from the mid-nineteenth century and handled a significant share of Central American fiscal printing during the 1880s and 1890s — a period when no local infrastructure existed to produce secure currency in the region. Nicaragua's Tesoro Nacional relied on foreign contractors almost exclusively during this period, and the San Francisco firm was a practical geographic choice compared to the transatlantic alternative of London or Paris.
The P#18 series is scarce. Low-denomination fractional treasury notes from this era rarely survived in any quantity; they circulated hard and were discarded once worn beyond use.