Description and research notes
A complete photographic proof pair for the 1939 500 Pesos issue produced by the American Bank Note Company for the Departamento de Emisión del Banco de la República Oriental del Uruguay. The second-highest denomination of Uruguay’s unified 1939 series, positioned just below the monumental 1,000 Pesos issue, this note was designed to represent the strength and solvency of the Republic.
The obverse features a powerful allegorical head of Liberty crowned with laurel and framed by classical architecture and the national arms, engraved with exceptional tonal depth. The reverse depicts a complex allegory of Victory and Prosperity, with figures symbolizing agriculture, commerce, and industry beneath radiant banners. The intricate composition and balanced geometry exemplify ABNC’s late-1930s engraving mastery.
Mounted on original card and graded PCGS 63 Choice New, this proof pair documents a defining moment in Uruguay’s pre-war banknote design—the near summit of ABNC’s artistry, where symbolism and technical precision converged to express a modern national identity.