Description and research notes
Issued 100 Pesos note of the Banco de la Republica, cataloged as Pick 159 and printed by Waterlow & Sons, London. First released in 1907, it shows the complete undisturbed design: a central public building vignette, strong engine-turned guilloche, and a 100 watermark in the paper.
This is the base type on which the later 1912 fiscal overprints were applied, making it the foundation for related specimen and provisional issues. As such it serves as the reference point collectors use for plate layout, imprint style, and color balance across the whole family of early 20th-century Paraguayan notes.
Most survivors of Pick 159 are found well-worn after long circulation, and certified high-grade examples are seldom seen. Graded PMG 66 EPQ Gem Unc, the present note confirms original paper and inks with strong embossing and bright color. It provides a clean benchmark for the type and a reliable anchor for studying Paraguay’s monetary reforms of the period.