Dominican Republic - Set of 3 - 10, 25, & 50 Centavos - Specimens P-86, 88a, & 90 - 1961 dated Foreign Paper Money

Specimens, (1961), P-86, 88a, & 90. CU. Not listed as Specimens. Set of 3. The peso oro was introduced in 1937 as a local coinage, but no corresponding paper money was issued at that time, and the U.S. dollar remained the official currency of the Dominican Republic. It wasn't until 1947 that the Central Bank issued the first peso oro banknotes, in denominations of 1, 5, 10, 20, 50, 500, and 1000 oros, though the 500 and 1000 peso notes were rarely used. These banknotes were printed by the American Bank Note Company, a private firm known for producing secure currency. Although U.S. notes were still accepted, they were gradually withdrawn from circulation as the peso oro became more prominent.

In 1961, due to the rising value of silver in coins and resulting shortages, lower-value notes in denominations of 10, 25, and 50 centavos were introduced. After the fall of the dictator Rafael Trujillo, references to Ciudad Trujillo on the banknotes were removed, and the capital reverted to its original name, Santo Domingo.

Today, banknotes in circulation include denominations of 50, 100, 200, 500, 1000, and 2000 pesos oros. The 10 and 20 peso notes were replaced by 10 and 25 peso coins in 2005, and a 20 pesos oro polymer note was introduced in 2010. Commemorative issues include limited editions of the 500 and 2000 peso oro notes for the 500th anniversary of the discovery of the Americas in 1992 and the millennium celebrations in 2000, though these are now rarely seen in circulation. While a 5000 peso note was considered, it has not been produced.