Description and research notes
This 20 Centesimos note was issued by the Banco Nacional de la Republica Oriental del Uruguay in 1896 and printed in London by Waterlow and Sons. The base note corresponds to Pick A88b and represents the later emission phase of the nineteenth century fractional series. It bears a formal perforated redemption cancel reading PAGADO 25.8.96 applied after circulation.
The perforations form the word PAGADO accompanied by the date 25.8.96, indicating payment and retirement on 25 August 1896. The perforated inscription appears on both the left and right sides of the note. When viewed from the obverse, the right-side inscription is a mirrored counterpart of the left, confirming that the perforation device penetrated the note in a single operation, producing reverse orientation on the opposite side.
This is not a specimen marking and not a branch validation overprint. It is a structured institutional redemption cancel applied through a mechanical punch device. The perforations are evenly spaced and uniform in diameter, forming clearly legible letter shapes and numerals. The density and alignment indicate deliberate administrative invalidation rather than random damage or informal cancellation.
The underlying printed design remains intact. The obverse features the seated Mercury allegory symbolizing commerce at left and the national coat of arms at right within an ornate guilloche framework. Mechanically reproduced signatures of Vittone, Bugliam, and Gimenez confirm classification within the A88b emission phase. Serial L084390 belongs to the L-prefix distribution of the 1896 production.
The reverse displays the dense green guilloche security field characteristic of Waterlow and Sons export engraving. The perforation pattern is visible throughout the reverse in mirrored orientation relative to the obverse, further confirming through-punch application.
As a dated PAGADO 25.8.96 perforation cancel, this note documents a precise moment of institutional redemption within Uruguay's late nineteenth century banking system. It preserves both the intact engraved design and the official retirement action, providing direct physical evidence of payment, accounting control, and currency withdrawal procedures within the Banco Nacional structure.