We are thrilled to offer an iconic note of South America and one of the earliest examples of a commemorative banknote in history. Various nations and kingdoms have used coins to commemorate important events since at least the 17th century, but commemorative banknotes are a relatively new phenomenon. This 1 Peso note from Uruguay was issued to commemorate 100 years of independence of the nation. It is dated July 18th, 1930, the date the Uruguayan constitution was adopted in 1830. For this special milestone, the nation decided to issue a three-note set (1, 5, 10 Pesos) which stood alone from their circulating notes at the time. They enlisted the Bank of France and their distinct design style to create a beautiful note, with a helmeted woman on the obverse and a maritime scene on the reverse. The words “Centenario de 1830” feature prominently along the top. While it is not known how many of these notes were issued, they are very scarce today. When they do show up, they are usually heavily circulated. Our piece, graded a problem-free PMG XF40 shows little in the way of actual circulation, and the grade is most likely down to how this note has been stored over the years. PMG has graded only nine examples of this note.