20 Colones

Banco Nacional de Costa Rica was established in 1914 as a state-owned institution, consolidating the country's fragmented private banking sector. By 1939, with Central American economies still feeling the long tail of the 1930s depression, the government leaned heavily on BNCR as the primary instrument of monetary management — commercial credit, agricultural loans, and exchange control all ran through it.

The American Bank Note Company printed this series in New York. ABNC's relationship with Costa Rican currency production stretched across several decades and multiple issuing authorities, making their work the visual backbone of mid-century Costa Rican paper money. Pick P#200 is among the less frequently encountered BNCR denominations from this period in circulated grades, as larger-value notes turned over less often in everyday transactions.