5 bolivanos 1928
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35 salesAbout This Note
A handsome example of Bolivia's early Central Bank currency, this 5 Bolivianos from 1928 features a striking portrait of Simón Bolívar in military dress within an ornate oval frame, printed by the prestigious Waterlow & Sons of London. The note exhibits excellent preservation consistent with its PMG 58 (Choice About Uncirculated) grade, with crisp engraving detail, minimal handling wear, and strong color saturation in the green palette typical of this issue.
Common. The eBay price history provided shows consistent circulation in the collector market with numerous sales ranging from $0.25 to $19.02 depending on grade, with most examples in circulated grades selling for under $5. The 2016 catalog value for this denomination in VF condition is listed at only $0.50, and PMG 64 examples have sold for approximately $10-12.50. Print runs for 1928 Banco Central de Bolivia notes were substantial, and this denomination remains readily available, even in high grades.
Issued under the Law of July 20, 1928, this note represents Bolivia's transition to Central Bank currency control during the post-WWI period of monetary reform in Latin America. The portrait of Simón Bolívar, South America's great liberator, reinforces national identity and legitimacy, while the elaborate coat of arms on the reverse emphasizes the note's official status as legal tender payable in gold—reflecting the gold standard era in which it was issued.
The obverse features a central portrait of Simón Bolívar in formal military uniform with chest decorations, framed within an ornate oval cartouche with elaborate scrollwork. Large denomination numerals '5' appear in the corners. The reverse displays Bolivia's national coat of arms—a complex heraldic shield—flanked by laurel wreaths or flags, with large numerals '5' positioned in hexagonal frames on both sides. The design incorporates fine border patterns throughout, characteristic of high-security banknote engraving of the era. Serial number appears as D5 004444, with series designation prominently displayed.
FRONT: 'BANCO CENTRAL DE BOLIVIA' (Central Bank of Bolivia); 'LEY DE 20 DE JULIO DE 1928' (Law of July 20, 1928); 'PAGARA AL PORTADOR A LA VISTA' (Payable to bearer on sight); 'CINCO BOLIVIANOS' (Five Bolivianos); 'EN ORO O HIJOS-ORO' (In gold or gold threads); 'LA PAZ' (La Paz); 'SERIE' (Series). BACK: 'BANCO CENTRAL DE BOLIVIA' (Central Bank of Bolivia); 'CINCO BOLIVIANOS' (Five Bolivianos); 'WATERLOW & SONS LTD LONDRES' (Waterlow & Sons Ltd London—printer's imprint).
Intaglio engraving (steel plate engraving), executed by Waterlow & Sons Ltd of London, one of the world's leading security printers in the early 20th century. The visual analysis confirms the characteristic fine line work, intricate cross-hatching, and sharp impression typical of intaglio production. No evidence of lithography or other printing methods is present; this is classic hand-engraved currency security printing.
The note is identified as Series A-R6 with signature varieties documented. The specific example shown bears serial number D5 004444 with series designation D5. Waterlow & Sons is confirmed as printer (abbreviated W&S in some references). The 'LEY DE 20 DE JULIO DE 1928' date inscription is standard for this issue. Known signature varieties exist for this type, though without reference materials these cannot be precisely identified from the visual analysis alone.
