50 Colones

Banco de Costa Rica was a commercial bank operating under government concession, not a central bank — Costa Rica would not have a central bank until 1950. That distinction matters here: this note was issued under the bank's right to circulate private currency, a privilege that became increasingly contested as the country moved toward a state monopoly on note issuance in the early twentieth century.

The American Bank Note Company printed extensively for Central American commercial banks during this period, and the quality of intaglio work on Costa Rican issues from this era is generally high. ABNCo's New York plant was handling simultaneous commissions across a dozen Latin American issuers at the turn of the century.

The 50 Colones denomination was substantial — well above everyday transactional use in 1901 Costa Rica.