5 Pesos

The Banco Nacional de Honduras was the country's sole bank of issue from its founding in 1889 until it lost its concession in the early 1910s, a period marked by chronic government borrowing against future customs revenues. This note falls squarely in that troubled interval — the bank's relationship with the state was less that of a central bank than a creditor perpetually renegotiating terms.

ABNC printed the series in New York on contracts typical of their Latin American work of the period. Honduras notes from this bank are genuinely scarce in any condition; the country's small monetary economy, combined with the bank's short operating window, kept circulation volumes low and survival rates lower.