25 Colones

Banco Agrícola Comercial was El Salvador's first private bank, established in 1895, and by 1922 it was operating alongside a clutch of competing issuing institutions before the state eventually monopolized currency issuance with the creation of Banco Central de Reserva in 1934. This note predates that consolidation by over a decade — a period when Salvadoran private banks printed their own currency through American Bank Note Company with the same production quality reserved for sovereign issuers.

The 25 colones denomination was never a workhorse note. At that value in early 1920s El Salvador, it represented serious purchasing power, which kept it largely out of everyday hands and likely contributed to low survival rates among circulated examples.