25 Pesos

The Estado de Honduras issues of the 1840s predate any central banking infrastructure in the country — these notes were effectively instruments of a nascent republican treasury operating on extremely limited means. Honduras had no domestic printing capability of consequence at the time, and details of who produced the P#5 series remain poorly documented in the literature.

Mid-nineteenth century Central American paper money is among the scarcest in the hemisphere. Humid climate, political instability, and low original print runs conspired against survival. The 1848 date places this issue squarely within the turbulent federalist collapse following the dissolution of the Central American Republic just years earlier.