Description and research notes
Earliest plain issue of the Banco Nacional 20 Centésimos dated 25 de Agosto de 1887, printed by Waterlow & Sons London. This first-delivery note precedes any branch stamping and shows the initial Mercury-and-Arms design. Seated Mercury symbolizes trade; arms affirm state backing; the green reverse guilloche exemplifies Waterlow craft.
Serial A029393 comes from the first Montevideo batch. Signatures of Vittone, Bugliam and Giménez in bold black ink with broad flourishes. Cataloged Pick A88a / PMG A88a (Plain Issue). Begins the five-piece 1887 sequence that tracks the move from national issue to provincial stamping.