Watch List notes:

(x) Banco Comercial de Guatemala, [Top Pop] 5 Pesos, 31st December 1892, serial number 16821, established on 2nd March 1891, the Banco Comercial de Guatemala received authorisation to function as an exchange, deposit, issuance, and discount bank in the capital city. Its founders included individuals such as J. Saturnino Tinoco, Lorenzo Eyssen, Roberto Val Kleinschmidt, Francisco Sarg, and firms like M. Urruela y Cía., Carlos Nuyens y Schwartz y Cía.

Despite a promising start, the bank's journey was notably short-lived, leading to liquidation in the early months of 1895.

Out of the five denominations produced by the bank, only two are confirmed to have been circulated, with the 5 pesos being the highest denomination among them.

The scarcity of these banknotes, resulting from the brief four-year existence of the bank, is emphasised by the fact that none of the five types have a price guide in the Pick catalogue. The combination of the bank's fleeting existence and the rarity of its banknotes establishes this particular banknote as a classic and sought-after Guatemala rarity, (Pick S132a), in PMG holder 20 EPQ Very Fine, this is the only note of its type graded by PMG.

Estimate: £9000 - £12000