Collection PL

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Uruguay’s paper money mirrors its passage from a provincial economy to a modern republic confident in global finance. The earliest notes of the 1860s, engraved in London by Bradbury, Wilkinson & Co., introduced the British idiom of guilloché precision and allegorical restraint. By the 1890s, production shifted to the American Bank Note Company in New York, whose craftsmanship redefined the visual identity of the Banco de la República Oriental del Uruguay. The photographic and presentation proofs preserved from this period reveal how trans-Atlantic engraving shaped national credibility.

The 1896 ABNC series—from the 1 Peso to the monumental 100 Pesos—established Uruguay’s modern numismatic language: Artigas portrayed as civic virtue, Montevideo’s harbor as prosperity, and classical symmetry as stability. Transitional proofs around 1900–1915 show refinement toward monumental clarity, while a Bradbury Wilkinson die proof of Artigas from circa 1920 preserves the British influence that lingered in official iconography.

The 1935 – 1939 Departamento de Emisión series completed the transformation. Large-format photographic proofs of denominations up to 1 000 Pesos document Uruguay’s entry into the Art Deco era—balanced geometry, allegories of labor and liberty, and the precision of intaglio modernism. Viewed together, these archival proofs trace half a century of design evolution, where foreign engraving houses translated a small republic’s faith in progress into a lasting visual currency.

This section is built around production-stage material—photographic proofs, presentation pairs, and specimens—rather than issued notes alone. The grouping reflects a deliberate focus on how designs evolved through approval and printing stages, based on surviving archival examples. The collection continues to expand, with additional material not yet publicly listed.

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Uruguay 1872 100 Pesos equals 10 Doblones printer archival specimen, early serial number 010001, printed by Bradbury Wilkinson

Uruguay 1872 - Banco de Londres y Rio de la Plata 100 Pesos = 10 Doblones Specimen (Pick Unlisted)

A printer’s archival specimen of the 1872 issue of the Banco de Londres y Rio de la Plata, denominated 100 Pesos Nacionales with an explicit equivalence to 10 Doblones in gold. This dual-denomination construction represents one of the most ambitious monetary experiments undertaken in nineteenth-century Uruguay, attempting to anchor paper currency directly to a fixed gold value at a time of persistent instability and public distrust in fiduciary issues. Read more →

UruguaySpecimen1872100 Pesos = 10 DoblonesPMG 35 Choice Very Fine SpecimenPrinter Archival SpecimenDual DenominationGold EquivalenceEarly Pull Serial 010001Oversized FormatBradbury WilkinsonBWCLondon Security PrintingNineteenth Century EngravingArchival Reference NoteGold Standard ExperimentPeso Doblone ParityBanco de Londres y Rio de la PlataLatin American Monetary HistoryNineteenth Century State FinanceUruguayMontevideo1872Pick UnlistedMuseum GradeR9 Extremely RareUnique
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Uruguay 1867 Banco Oriental 10 Pesos equals 1 Doblón de Oro Sellado issued banknote, American Bank Note Company, single handwritten right-side circulation signature, serial number 55818, Pick S385a, PMG 15 Choice Fine, plate position pp B

Uruguay 1867 - Banco Oriental 10 Pesos = 1 Doblón de Oro Sellado Handwritten Right-Side Signature Serial 55818 Issued Note (Pick S385a)

Systematic comparison of known surviving examples demonstrates that right-side signature placement represents the original spatial logic of the design. This same position was later retained when handwritten signatures were replaced by mechanically printed facsimile signatures, indicating continuity of layout rather than redesign. The signature position therefore functions as a structural marker of the initial authorization model rather than a decorative choice. Read more →

UruguayIssued Note186710 Pesos = 1 Doblón de Oro SelladoPMG 15 Choice Fine Issued BanknoteHandwritten SignatureRight Side Signature PlacementPlate Position BGold Convertible DenominationABNCAmerican Bank Note CompanyNineteenth Century Security PrintingEngraved Allegorical DesignGuilloche Security PatternBanco OrientalUruguay1867MontevideoPick S385aHistoryMuseum GradeAnnotationsHandwritten Annotations
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Uruguay 1867 Banco Oriental 10 Pesos equals 1 Doblón de Oro Sellado issued banknote, dual handwritten circulation signatures at left and right, serial number 23286, Pick S385a, plate position pp B

Uruguay 1867 - Banco Oriental 10 Pesos = 1 Doblón de Oro Sellado Dual Handwritten Signatures at Left and Right Serial 23286 Issued Note (Pick S385a)

The dual-signature configuration represents a short-lived administrative experiment within the Banco Oriental. It was introduced after the original single-signature format and abandoned before the adoption of mechanically printed facsimile signatures. The rapid implementation and reversal of this requirement strongly suggests heightened oversight or institutional uncertainty rather than a planned production standard. Read more →

UruguayIssued Note186710 Pesos = 1 Doblón de Oro SelladoFine to Very Fine (estimated) Issued BanknoteDual Handwritten SignaturesLeft and Right Signature PlacementPlate Position BGold Convertible DenominationABNCAmerican Bank Note CompanyNineteenth Century Security PrintingAuthorization ExperimentAdministrative Control VariantBanco OrientalUruguay1867MontevideoPick S385aHistoryRarityMuseum GradeAnnotationsHandwritten Annotations
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Uruguay 1867 Banco Oriental 10 Pesos equals 1 Doblón de Oro Sellado issued banknote, centered handwritten circulation signature, serial number 35345, Pick S385a, plate position pp A

Uruguay 1867 - Banco Oriental 10 Pesos = 1 Doblón de Oro Sellado Centered Handwritten Signature Serial 35345 Issued Note (Pick S385a)

Cataloged as Pick S385a together with all other issued 1867 Banco Oriental 10 Pesos Doblón notes, this centered-signature variant is not separately recognized in standard references. Its importance lies in documenting the internal administrative evolution of the Banco Oriental during a period of rapid procedural change rather than in representing a formally distinct catalog type. Read more →

UruguayIssued Note186710 Pesos = 1 Doblón de Oro SelladoVery Fine (estimated) Issued BanknoteHandwritten SignatureCentered Signature PlacementPlate Position AGold Convertible DenominationABNCAmerican Bank Note CompanyNineteenth Century Security PrintingAuthorization TransitionAdministrative AdjustmentBanco OrientalUruguay1867MontevideoPick S385aHistoryMuseum GradeAnnotationsHandwritten Annotations
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Uruguay 1867 Banco Oriental 10 Pesos equals 1 Doblón de Oro Sellado issued banknote, engraved facsimile circulation signature at right, serial number 74487, Pick S385a, plate position pp C

Uruguay 1867 - Banco Oriental 10 Pesos = 1 Doblón de Oro Sellado Facsimile Signature at Right Serial 74487 Issued Note (Pick S385a)

Serial number 74487 is distinguished by a single engraved facsimile circulation signature placed at the right side of the designated signature area. This placement exactly matches the original position used for the earliest handwritten signatures, indicating a deliberate return to the initial spatial layout once the authorization system was stabilized. The facsimile signature replaced manual signing to improve uniformity, speed, and administrative efficiency. Read more →

UruguayIssued Note186710 Pesos = 1 Doblón de Oro SelladoVery Fine to Extremely Fine (estimated) Issued BanknoteFacsimile SignatureRight Side Signature PlacementPlate Position CGold Convertible DenominationABNCAmerican Bank Note CompanyNineteenth Century Security PrintingMechanized AuthorizationStandardized ProductionBanco OrientalUruguay1867MontevideoPick S385aHistoryMuseum GradeAnnotationsHandwritten Annotations
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Uruguay 1862 Banco de Londres y Rio de la Plata 100 Pesos Pick S245s specimen, perforated SPECIMEN, engraved by Bradbury Wilkinson & Co., graded PMG 64 EPQ

Uruguay 1862 - Banco de Londres y Rio de la Plata 100 Pesos Specimen (Pick S245s)

This perforated specimen of the 1862 100 Pesos note was prepared for the Banco de Londres y Rio de la Plata, among the earliest private commercial banks to operate in Uruguay and the wider River Plate region. Founded in Buenos Aires in 1862 with a Montevideo branch soon after, the bank served as a critical financial link between South American trade and British capital-handling customs revenue, shipping finance, and early railway projects. Read more →

UruguaySpecimen1862100 PesosPMG 64 EPQ Pick S245sPick S245SpecimenBanco de Londres y Rio de la PlataBradbury WilkinsonBWCUruguay 19th Century100 PesosUruguay1862
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Uruguay 1862 Banco de Londres y Rio de la Plata 100 Pesos Pick S245r remainder, unissued and unsigned, engraved by Bradbury Wilkinson & Co., PMG 63 Choice Uncirculated

Uruguay 1862 - Banco de Londres y Rio de la Plata 100 Pesos Remainder (Pick S245r)

Every detail of the engraving is intact, from the fine guilloché to the portraits of Mercury and Agriculture that framed Uruguay’s economic vision. These were not symbolic choices but direct references to the nation’s trade and export economy, which the bank helped finance. By the late 19th century, the institution was absorbed into Lloyds Bank, but these early remainders preserved the look and ambition of its founding years. Read more →

UruguayRemainder1862100 PesosPMG 63 Choice Uncirculated Pick S245rPick S245RemainderBanco de Londres y Rio de la PlataBradbury WilkinsonBWCUruguay 19th Century100 PesosUruguay1862
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Uruguay 1872 P. Valdez & Co. Tacuarembo 10 Centesimos unissued note with harvest scene, lith. Bauer, Rincon 72 Montevideo

Uruguay 1872 - P. Valdez & Co., Tacuarembo 10 Centesimos Unissued (Pick Unlisted)

Unissued 10 Centesimos note dated 1 July 1872 from P. Valdez & Co. of Tacuarembo (then San Fructuoso), printed by Lit. F. Bauer, Rincon 72, Montevideo. Pablo Valdez was a leading figure of 19th-century Tacuarembo: a stage-coach operator connecting San Fructuoso with Paso de los Toros, the town’s first agent of livestock brands and marks, and founder of the large soap works Jaboneria de Pablo Valdez near Arroyo Tranqueras. His firm issued these small bearer chits to replace missing fractional coinage during the post-conflict period following the Revolution of the Lances (1870-1872). Read more →

UruguayPrivate Scrip187210 CentesimosRaw (VF est.) UruguayPick UnlistedUnissued NotePrivate ScripEmergency MoneyTacuaremboP. Valdez & Co.F. Bauer LithographyUruguay 19th Century10 Centesimos1872Local Issue
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Uruguay 1872 P. Valdez & Co. Tacuarembo 20 Centesimos unissued note with classical vignette, lith. Bauer, Rincon 72 Montevideo

Uruguay 1872 - P. Valdez & Co., Tacuarembo 20 Centesimos Unissued (Pick Unlisted)

Design: single-sided brown lithograph with a neoclassical vignette of two youths carrying a sickle and sheaf of grain, symbolizing cooperation and labor. The value VEINTE CENTESIMOS appears within rosettes marked 20; the Bauer imprint sits at base. The wide left margin and binding perforations show that these were bound in counterfoil books for controlled issue. The note measures roughly 141 by 57 mm, matching the size data preserved in Uruguayan references. Read more →

UruguayPrivate Scrip187220 CentesimosRaw (VF est.) UruguayPick UnlistedUnissued NotePrivate ScripEmergency MoneyTacuaremboP. Valdez & Co.F. Bauer LithographyUruguay 19th Century20 Centesimos1872Local Issue
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Uruguay 1939 50 Pesos specimen with red ESPECIMEN overprint, SIN VALOR perforation, punch cancels and specimen number 000235, printed by Thomas De La Rue

Uruguay 1939 - Banco de la Republica Oriental del Uruguay 50 Pesos Perforated SIN VALOR Specimen with Specimen Number 000235 (Pick 38s)

Importance: concludes Uruguay's classic engraved era before wartime simplification. The perforated 'SIN VALOR' variant with specimen numbering is scarcer than the pure overprint type and directly documents the printer’s internal cancellation and tracking system for specimen retention. Read more →

UruguaySpecimen193950 PesosRaw (AU/UNC) UruguayPick 38sPick 38SpecimenEspecimenSIN VALOR PerforationPerforated SIN VALORSpecimen Number 000235Specimen NumberedThomas De La RueTDLRBanco de la Republica Oriental del UruguayDepartamento de Emision50 PesosPrewar1939
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Uruguay 1939 Banco de la Republica Oriental del Uruguay 50 Pesos Serie C specimen, Specimen No. 9, Pick 38bs, with all-zero serial numbers, diagonal red SPECIMEN overprint, red oval printer control stamps, Indigenous warrior portrait, Jose Gervasio Artigas watermark, and ceremonial historical reverse, certified Paper Money Guaranty 65 Gem Uncirculated Exceptional Paper Quality

Uruguay 1939 - Banco de la Republica Oriental del Uruguay 50 Pesos Serie C Specimen, Specimen No. 9 (Pick 38bs)

Issued by the Banco de la Republica Oriental del Uruguay, this 1939 fifty pesos specimen preserves the completed Serie C form of one of the most visually distinctive denominations in Uruguay's interwar monetary program. Printed by Thomas De La Rue and Company Limited, the note carries all-zero serial numbers, the separately assigned designation Specimen No. 9, a diagonal red SPECIMEN overprint, and oval printer control stamps that establish its official reference status. Read more →

UruguaySpecimen with Red Overprint and Oval Printer Control Stamps193950 PesosPMG 65 EPQ Specimen50 PesosSerie CSpecimen No 9All Zero Serial NumbersRed SPECIMEN OverprintRed Oval Printer Control StampsTwo Sided Specimen CancellationIndigenous Warrior PortraitFeathered HeaddressJose Gervasio Artigas WatermarkCeremonial Historical ReverseBanco de la Republica Oriental del UruguayThomas De La Rue and Company LimitedIntaglio PrintingSecurity EngravingGuilloche DesignWatermarked PaperMulti Color Security PrintingPrinted Specimen ControlNumbered Institutional SpecimenLondon Security PrintingUruguay Monetary HistoryLaw of 2 January 1939Interwar Monetary SystemState Issued CurrencyInstitutional Reference NoteHigh Value Commercial CurrencySpecimen DistributionBanknote Production HistoryHistoryUruguay193950 PesosPick 38bsPick 38bPMG 65Gem UncirculatedExceptional Paper QualityR8 Extremely RareMuseum Grade
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Uruguay 1939 design authorized for Banco Central del Uruguay in 1967, 50 Pesos Serie D specimen, Specimen No. 2, Pick 42As, with all-zero serial numbers, diagonal red SPECIMEN overprint, red oval Thomas De La Rue printer control stamps, Indigenous warrior portrait, Jose Gervasio Artigas watermark, and historical assembly reverse, certified Paper Money Guaranty 66 Gem Uncirculated Exceptional Paper Quality

Uruguay 1939 (1967 Authorization) - Banco Central del Uruguay 50 Pesos Serie D Specimen, Specimen No. 2 (Pick 42As)

The Indigenous figure gives the design a historical and territorial dimension that extends beyond the formal language of monetary authority. Its commanding scale balances the national title, denomination, and watermark field, joining cultural memory with the technical structure of a high-security banknote. The continued use of this portrait under the later central bank authorization demonstrates the enduring symbolic value assigned to the original 1939 composition. Read more →

UruguaySpecimen with Red Overprint and Oval Printer Control Stamps193950 PesosPaper Money Guaranty 66 Gem Uncirculated Exceptional Paper Quality Specimen50 PesosSerie DSpecimen No 2All Zero Serial NumbersRed SPECIMEN OverprintRed Oval Printer Control StampsTwo Sided Specimen CancellationIndigenous Warrior PortraitFeathered HeaddressJose Gervasio Artigas WatermarkHistorical Assembly ReverseBanco Central del UruguayBanco de la Republica Oriental del UruguayDepartamento de EmisionThomas De La Rue and Company LimitedIntaglio PrintingSecurity EngravingGuilloche DesignWatermarked PaperMulticolor Security PrintingPrinted Specimen ControlNumbered Institutional SpecimenLondon Security PrintingReused Banknote Plate DesignUruguay Monetary HistoryLaw of 2 January 19391967 Central Bank AuthorizationBanco Central del Uruguay ReissueCentral Bank TransitionInstitutional ContinuityInterwar Banknote DesignPostwar Monetary AdministrationState Issued CurrencyInstitutional Reference NoteBanknote Production HistoryHistoryUruguay1939196750 PesosPick 42AsPick 42APaper Money Guaranty 66Gem UncirculatedExceptional Paper QualityR8 Extremely RareMuseum Grade
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