Search Results for "gold value clause" - Collection

Paraguay 1907 100 Pesos Banco de la República specimen with 1912 dual-side state and treasury fiscal revalidation overprint, including Emisión del Estado on the face and Departamento de Hacienda Junta Fiscalizadora Diez Pesos Oro Sellado validation on the reverse, base Pick 159, Pick Unlisted, PMG 64 Choice Uncirculated

Paraguay 1907 - 100 Pesos with 1912 Dual-Side State and Treasury Revalidation Overprint Specimen (Pick Unlisted)

The significance of the reverse overprint is especially important. The original 1907 note already carried the monetary clause “Moneda Nacional ó Diez Pesos Oro Sellado,” meaning that the 100 Pesos paper denomination was legally associated with a value formula of ten sealed gold pesos. During the monetary and political emergency of 1912, this wording became more than decorative text. The state needed a way to distinguish selected, officially reviewed notes from the unstable mass of paper circulating in a damaged economy. The second, reverse overprint did exactly that: it reaffirmed the gold-denominated language of the base note and placed the note under the authority of the Treasury’s fiscal inspection board. Read more →

ParaguayOverprint Specimen1907100 PesosPMG 64 Choice Uncirculated Specimen100 PesosPick UnlistedPick 159OverprintState OverprintTreasury OverprintDual-Side OverprintDual-Signature OverprintProvisionalFiscal RevalidationTreasury RevalidationEmergency State IssueParaguayan Emergency Issues1912 ReformJanuary 11 1912 State EmissionMay 20 1912 DecreeBanco de la RepúblicaDepartamento de HaciendaJunta FiscalizadoraEmisión del EstadoDiez Pesos Oro SelladoGold-Value ReaffirmationWaterlow & SonsSouth American Monetary HistoryEarly 20th Century FinanceGovernment RevalidationOverprint VarietiesParaguay19071912PMG 64Choice UncirculatedMuseum GradeR9 Extremely RareUnique

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Paraguay 1907 100 Pesos Banco de la República note with 1912 Emisión del Estado state overprint on the face, Pick 134, base Pick 159, printed by Waterlow & Sons, London, PMG 65 EPQ Gem Uncirculated Top Pop

Paraguay 1907 - 100 Pesos with 1912 State Overprint (Pick 134, Base Pick 159)

This makes the note a key witness to the difference between ordinary bank circulation and government-backed emergency validation. The original 1907 design already carried the important value clause “Moneda Nacional ó Diez Pesos Oro Sellado,” linking the 100 Pesos paper denomination to a gold-referenced monetary formula. In the unstable economy of 1912, that wording gained renewed importance. The state overprint did not erase the old Banco de la República identity; it layered new public authority on top of it. The result was a hybrid instrument: a 1907 Waterlow & Sons banknote, still visibly carrying its original bank design and gold-value language, but now formally brought under the 1912 state emission. Read more →

ParaguayOverprint Issue1907100 PesosPMG 65 EPQ Gem Uncirculated (Top Pop) Overprint Issue100 PesosPick 134Pick 159Base Pick 159State OverprintSingle-Side OverprintFace OverprintProvisionalEmergency State IssueFiscal RevalidationGovernment RevalidationWaterlow & SonsBanco de la RepúblicaEmisión del EstadoLey de 11 de Enero de 1912Moneda NacionalDiez Pesos Oro SelladoGold-Value ClauseSeries ARed Serial NumberBlack Oval OverprintArchitectural VignetteGuilloché Security DesignParaguayan Emergency Issues1912 ReformParaguayan Civil War PeriodSouth American Monetary HistoryEarly 20th Century FinanceEmergency CurrencyOverprint VarietiesState LiabilityCurrency RevalidationParaguayRepublic of Paraguay19071912PMG 65 EPQGem UncirculatedTop PopMuseum GradeR7 Extremely RareHistory

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Paraguay 1907 - Banco de la República 100 Pesos Issued Note (Pick 159)

At the center of its importance is the monetary clause printed on the face: “Moneda Nacional ó Diez Pesos Oro Sellado.” This wording gave the 100 Pesos paper denomination a formal relationship to ten sealed gold pesos. In 1907, that phrase belonged to the legal and monetary structure of the original Banco de la República issue. By 1912, during Paraguay’s political and fiscal crisis, the same phrase became central to the meaning of the emergency overprints. The government’s later overprinted notes did not invent the gold-value language; they reactivated and reaffirmed language already present on this base issue. Read more →

ParaguayIssued Note1907100 PesosPMG 66 EPQ Gem Uncirculated Issued Note100 PesosPick 159Banco de la RepúblicaBase TypeNon-Overprinted IssueOriginal IssueSeries ARed Serial NumberWaterlow & SonsWaterlow & Sons London100 WatermarkWmk 100Architectural VignetteBanco de la República BuildingGuilloché Security DesignIntaglio PrintingYellow-Green TintBlack EngravingLarge Denomination PanelsMoneda NacionalDiez Pesos Oro SelladoGold-Value ClauseTen Sealed Gold PesosBase for 1912 State OverprintBase for Pick 134Base for Dual-Side Treasury RevalidationParaguayan Monetary HistorySouth American Monetary HistoryEarly 20th Century FinancePre-1912 Emergency IssueReference TypeCurrency Reform ContextHistoryParaguayRepublic of Paraguay19071912PMG 66 EPQGem UncirculatedMuseum Grade

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Paraguay 1907 - Banco de la República 5 Pesos with 1912 Dual-Side State and Treasury Revalidation Overprint (Pick Unlisted, Base Pick 156)

The original Pick 156 design already carried the monetary clause “Moneda Nacional ó Cincuenta Centavos Oro Sellado,” meaning that the 5 Pesos paper denomination was legally associated with fifty centavos in sealed gold value. During the monetary instability of 1912, this phrase became more than a printed value formula. It gave the government a pre-existing legal and monetary reference point that could be reaffirmed through emergency overprinting. The reverse Treasury stamp is especially meaningful because it repeats the gold-value language directly, making the fiscal validation not just an ownership or issue mark, but a visible reaffirmation of the note’s official value status. Read more →

ParaguayDual-Side Overprint Issue19075 PesosUncirculated Dual-Side Overprint Issue5 PesosPick UnlistedPick 156Base Pick 156OverprintState OverprintTreasury OverprintDual-Side OverprintFace OverprintReverse OverprintProvisionalEmergency State IssueFiscal RevalidationTreasury RevalidationGovernment RevalidationWaterlow & SonsWaterlow & Sons LondonBanco de la RepúblicaEmisión del EstadoLey de 11 de Enero de 1912Departamento de HaciendaJunta FiscalizadoraConforme Decreto de 20 de Mayo 1912Moneda NacionalCincuenta Centavos Oro SelladoGold-Value ClauseSeries ARed Serial NumberBlack Oval OverprintReverse Treasury ValidationGuilloché Security DesignIntaglio PrintingParaguayan Emergency Issues1912 ReformParaguayan Civil War PeriodSouth American Monetary HistoryEarly 20th Century FinanceEmergency CurrencyOverprint VarietiesState LiabilityTreasury VerificationCurrency RevalidationPublic Finance HistoryHistoryParaguayRepublic of Paraguay19071912UncirculatedMuseum GradeR9 Extremely Rare

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Paraguay 1907 Banco de la República 5 Pesos with 1912 Emisión del Estado state overprint on the face, Pick 127, base Pick 156, printed by Waterlow & Sons, London, PMG 64 Choice Uncirculated

Paraguay 1907 - Banco de la República 5 Pesos with 1912 State Overprint (Pick 127, Base Pick 156)

The 5 Pesos denomination is especially useful for understanding the full logic of the 1912 revalidation process. The base note carries the monetary wording “Moneda Nacional ó Cincuenta Centavos Oro Sellado,” linking the paper denomination to a gold-referenced value formula. This phrase was already part of the 1907 design, but in 1912 it became more meaningful because the government was attempting to preserve official monetary order while ordinary paper confidence was under pressure. The state overprint did not create the gold-value clause; it placed state authority over a note that already carried it. Read more →

ParaguayOverprint Issue19075 PesosPMG 64 Choice Uncirculated Overprint Issue5 PesosPick 127Pick 156Base Pick 156State OverprintSingle-Side OverprintFace OverprintProvisionalEmergency State IssueFiscal RevalidationGovernment RevalidationWaterlow & SonsWaterlow & Sons LondonBanco de la RepúblicaEmisión del EstadoLey de 11 de Enero de 1912Moneda NacionalCincuenta Centavos Oro SelladoGold-Value ClauseSeries ARed Serial NumberBlack Oval OverprintGuilloché Security DesignIntaglio PrintingBlue UnderprintBrown ReverseNational EmblemParaguayan Emergency Issues1912 ReformParaguayan Civil War PeriodSouth American Monetary HistoryEarly 20th Century FinanceEmergency CurrencyOverprint VarietiesState LiabilityCurrency RevalidationPublic Finance HistoryHistoryParaguayRepublic of Paraguay19071912PMG 64Choice UncirculatedMuseum GradeR7 Extremely Rare

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Paraguay 1907 - Banco de la República 5 Pesos Issued Note (Pick 156)

The monetary wording on the face is central to the note’s historical meaning. The printed clause reads “Moneda Nacional ó Cincuenta Centavos Oro Sellado,” identifying the 5 Pesos paper denomination with a formal value relationship to fifty centavos in sealed gold. In 1907, this language belonged to the original Banco de la República issue. By 1912, the same wording became highly important because the Paraguayan state used it as part of the logic behind the later emergency revalidations. The overprints did not invent the gold-reference language; they were applied to notes that already carried it. This issued example shows that original value formula before crisis-era state intervention changed the note’s legal and fiscal status. Read more →

ParaguayIssued Note19075 PesosPMG 65 EPQ Gem Uncirculated Issued Note5 PesosPick 156Banco de la RepúblicaBase TypeNon-Overprinted IssueOriginal IssueSeries ARed Serial NumberWaterlow & SonsWaterlow & Sons London5 WatermarkWatermark 5Allegorical PortraitFemale PortraitGuilloché Security DesignIntaglio PrintingBlue UnderprintBrown ReverseNational EmblemLarge Denomination PanelsMoneda NacionalCincuenta Centavos Oro SelladoGold-Value ClauseHalf Peso OroBase for 1912 State OverprintBase for Pick 127Base for Dual-Side Treasury RevalidationParaguayan Monetary HistorySouth American Monetary HistoryEarly 20th Century FinancePre-1912 Emergency IssueReference TypeCurrency Reform ContextHistoryParaguayRepublic of Paraguay19071912PMG 65 EPQGem UncirculatedExceptional Paper QualityMuseum GradeR7 Extremely Rare

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