50 Pesos

Tipografía Gutemberg — a local Managua print shop, not one of the established security printers — produced this note entirely in-country, which was unusual for Nicaraguan paper money of the period. The result was predictably modest in terms of security features and print quality, and the series is known for significant variation in impression consistency across surviving examples.

1909 was a turbulent year for Nicaragua: U.S. political pressure was intensifying against the Zelaya government, and by year's end José Santos Zelaya had resigned. Whether notes from this series saw meaningful circulation before the political collapse is an open question, and the issuing authority effectively ceased to function in the chaos that followed.