5 Pesos

Giesecke & Devrient held a near-monopoly on Uruguayan banknote production in the late nineteenth century, and this 5 Pesos is one of the earlier results of that relationship. The Banco de la República Oriental del Uruguay had only been established in 1896 by government decree — this note was among its founding issues, replacing the fragmented landscape of private bank paper that had caused repeated financial instability in preceding decades.

The Leipzig printing is confirmed by the G&D imprint; Uruguay's own security printing capacity would not develop meaningfully until well into the twentieth century.