Collection PL

About

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)

The face design is dominated by a central allegorical female figure bearing a flag and shield, symbolizing sovereignty and national resolve. Surrounding vignettes incorporate emblems of commerce, agriculture, and native fauna, reinforcing the intended message of economic stability and national identity. The denomination is stated both as paper currency and as a gold equivalent, an unusually explicit declaration that reflects Uruguay’s short-lived attempt to restore confidence through a formal gold linkage. 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 Issued Note, Handwritten Right-Side Signature, Serial 55818 (Pick S385a)

This example, serial number 55818, belongs to the earliest issuance state of Pick S385a and carries a single handwritten circulation signature placed at the right side of the designated signature area. At this stage, Banco Oriental authorization relied on a single signing official applied manually in ink after printing and numbering. No secondary signature was present or required under the original issuance framework. 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 Issued Note, Dual Handwritten Signatures at Left and Right, Serial 23286 (Pick S385a)

Serial number 23286 is distinguished by the presence of two fully handwritten circulation signatures, one placed at the left side and one at the right side of the signature area. This is the only known authorization state of the issue in which dual manual signatures were simultaneously required. Both signatures were applied in ink after printing and numbering, reflecting a temporary internal control measure rather than a change in design or denomination. 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 Issued Note, Centered Handwritten Signature, Serial 35345 (Pick S385a)

Issued banknote of the Banco Oriental of Uruguay, dated 1 de Agosto de 1867 and printed by the American Bank Note Company in New York. Produced from the same engraved plates as the standard single-signature issue, this example documents a transitional authorization state following the brief dual-signature requirement implemented during the initial circulation period. 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 Issued Note, Facsimile Signature at Right, Serial 74487 (Pick S385a)

The adoption of a printed signature marks the final stage in the Banco Oriental’s evolution of authorization practice for this denomination. Following a brief period of dual handwritten signatures and a subsequent centered single-signature adjustment, the bank reverted to the original right-side format while eliminating the need for manual application entirely. This configuration remained in use for the remainder of the issue’s production. 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)

Engraved and printed by Bradbury, Wilkinson & Co. in London, the note reflects the firm’s first major commission for the Rio de la Plata area. The allegorical vignettes-Mercury representing trade and Agriculture symbolizing prosperity-conveyed both British confidence and local ambition. Dense guilloché fields, lathe-turned borders, and watermarked paper illustrate BWC’s early transition from hand-engraved dies to mechanical precision engraving, a security standard that shaped modern banknote production. 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)

Few notes capture the working side of 19th-century banknote production like this 1862 100 Pesos remainder. Printed by Bradbury, Wilkinson & Co. for the Banco de Londres y Rio de la Plata but never signed or issued, it remains an untouched example of Uruguay’s first major British-engraved currency design. No cancellations, no serials-just the raw presswork as it left London more than 160 years ago. 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)

These merchant notes are among the earliest recorded private issues in Uruguay’s interior. They demonstrate how individual entrepreneurs like Valdez sustained local trade when official currency failed to reach the frontier economy. 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)

Unissued 20 Centesimos note dated 1 July 1872 from P. Valdez & Co. of Tacuarembo (then San Fructuoso), printed by Lit. F. Bauer, Rincon 72, Montevideo. This brown 20 Centesimos complemented the green 10 Centesimos and formed the upper value of Pablo Valdez’s private small-change series. Valdez, a transport entrepreneur and industrialist, operated stage-coach lines, managed livestock branding records, and owned the Jaboneria de Pablo Valdez soap factory near Arroyo Tranqueras. His enterprise issued these notes to supply everyday liquidity in the wake of the Revolution of the Lances (1870-1872) when coin was scarce. 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)

A separate black specimen number '000235' appears at the lower right margin, identifying this exact specimen within the printer’s archival system. This number is distinct from the zero serial and serves as an internal reference applied to individual specimen copies. 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)

The reverse presents a large ceremonial and historical composition framed by elaborate security ornament and denomination panels. The scene is rendered to the same finished production standard as the obverse, with carefully structured architecture, assembled figures, and layered engraved detail. Its narrative character provides a counterpoint to the monumental portrait on the face and gives the note a wider cultural and historical identity. 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 note occupies an important position in the institutional history of Uruguayan paper money. Its visual design originated with the issue authorized under the law of 2 January 1939, when note issuance remained associated with the Departamento de Emision of the Banco de la Republica Oriental del Uruguay. Following the establishment of the Banco Central del Uruguay in 1967, the denomination continued through a new authorization while retaining the familiar artistic and technical structure developed for the earlier series. 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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