20 Pesos

Venezuela's 1860 banking period was chaotic by any measure. The República de Venezuela had only recently consolidated authority over note issuance following decades of political fragmentation, and paper money from this period circulated against a backdrop of chronic fiscal instability and persistent public preference for hard coin. The 20 Pesos denomination placed this note well above everyday transactional use — it would have moved through merchant and government hands, not market stalls.

Pick 22 is genuinely rare in any condition. Surviving examples are few enough that auction appearances are infrequent, and the paper of this period was not made to last.