Description and research notes
This rare sepia-tone photo-proof pair of the 10 Pesos denomination represents the presentation-stage variant of Uruguay’s 1896 American Bank Note Company series. Produced shortly after the black-and-white engraver’s approval proofs, these warm brown photographs were intended for final client review and executive reference, retaining the same composition but rendered with the tonal depth and paper texture of finished currency.
The face bears the refined portrait of José Gervasio Artigas surrounded by an intricate network of guilloches and floral motifs, while the reverse captures a luminous Montevideo harbor vignette that symbolized Uruguay’s role as the Atlantic gateway of the Southern Cone. Sepia coloration was chosen to approximate the ink hue of the planned issue and to enhance legibility in the presentation albums maintained by the Banco de la República.
By the late 1890s Uruguay’s fiscal institutions had stabilized under the peso fuerte system, and ABNC’s engravings became visual statements of national solvency. The 10 Pesos in particular balanced everyday usability with elegance suited for export trade finance. Surviving sepia proof pairs are exceptionally few—most ABNC color trials were discarded when photographic files were condensed in the 1940s.
Both sides are graded PCGS 63 Choice New, retaining their full photographic luster and clear mount margins. Together they illustrate the final stage of nineteenth-century proof preparation, when craftsmanship and diplomacy converged to project the Republic’s maturity to foreign bankers and domestic audiences alike.