500 Soles

Peru's 1879 issue coincided directly with the outbreak of the War of the Pacific, in which Chile, Bolivia, and Peru became embroiled in a conflict that would devastate Peruvian finances for years. The government turned to paper emission as military expenditure surged and specie reserves collapsed, making this 500 Soles note part of a broader inflationary spiral rather than routine banking practice.

The American Bank Note Company had been engraving South American currency since the 1860s and held long-standing contracts with Lima. By the time Chilean forces occupied the capital in 1881, much of this series had either been destroyed, captured, or rendered effectively worthless.