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Honduras 1863 five pesos treasury vale de hacienda with national seal and manuscript signatures, Pick 7

Honduras 1863 - 5 Pesos Treasury Bond Vale de Hacienda República Libre, Soberano e Independiente (Pick 7)

This 5 Pesos vale de hacienda was issued by the Republic of Honduras under the decree of 2 March 1863 and represents one of the earliest surviving treasury obligations of the Honduran republic. During the mid-nineteenth century Honduras lacked a formal banking system and frequently relied on treasury vales such as this to finance government operations and supplement the limited supply of metallic currency. Read more →

HondurasTreasury Bond (Vale de Hacienda)18635 PesosUncertified (Manuscript Signed, Cancelled) Treasury BondVale de HaciendaFiscal CertificateGovernment ObligationManuscript SignedRepublica de Honduras Libre Soberano e IndependienteHonduras National SealCentral American Fiscal HistoryEarly Republican FinanceHonduras18635 PesosPick 7CancelledRedeemed Treasury InstrumentMuseum Grade
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Paraguay 1856 2 Reales Tesoro Nacional Treasury Note, earliest national paper money of Paraguay, signed by Matias Reina and Santiago Ozcariz, Pick Unlisted and attributed as Miguel Pratt MC14.

Paraguay 1856 - Tesoro Nacional 2 Reales Treasury Note, Earliest National Paper Money (Pick Unlisted, Miguel Pratt MC14)

The signatures of Matias Reina and Santiago Ozcariz place this note firmly within the earliest Treasury operation. Their handwritten authority, together with the individually entered serial details, gives the piece the character of a manually controlled government obligation rather than a standardized later issue. The compact setting of the phrase al portador, the open character of the lettering, the uneven impression, and the broad handwritten style separate this first-issue note from the later 1862 to 1865 wartime restrikes and re-lithographed types. Read more →

ParaguayTreasury Note18562 RealesUncertified Very Fine Original, Blank Reverse 2 RealesTreasury NoteTesoro Nacional Treasury NoteEarliest National Paper MoneyFirst IssueHandsignedBlank ReversePrimitive LithographyThin Handmade PaperTesoro NacionalCarlos Antonio LopezMatias ReinaSantiago OzcarizAsuncion PrintingParaguayan Monetary OriginsEarly National PaperSouth American Fiscal HistoryWar of the Triple AllianceHistoryParaguay1856Pick UnlistedMiguel Pratt MC14R10 UniqueR10Unique Known ExampleMuseum Grade
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Armed Forces of South Russia 100,000 Rubles Treasury Bill, November 1920 (Pick S431c), Imperial eagle at left

Russia 1920 - Armed Forces of South Russia 100,000 Rubles Treasury Bill (November Issue, Pick S431c)

Six-percent short-term Treasury bill for 100,000 rubles issued by the Government Treasury of the Armed Forces of South Russia during the final phase of the Russian Civil War. This is the November 15, 1920 payable issue (Pick S431c), printed after General Pyotr Wrangel transferred the White administration to Crimea. The note follows the classical Imperial layout: bilingual Russian–French legends, the double-headed eagle in an ornate oval cartouche at left, and a formal typographic bond structure intended to signal continuity with pre-1917 state finance. Read more →

RussiaTreasury Bond Note1920100,000 Rubles- Treasury Bill100000 RublesFiscal DocumentHigh-Value DenominationGovernment ObligationBond IssueImperial EaglePick S431cRussian Civil WarWhite MovementArmed Forces of South RussiaWrangel GovernmentCrimea AdministrationCollapse of White RussiaEmergency FinanceExile Government HistoryTransitional Fiscal SystemsAnti-Bolshevik AdministrationRussiaCrimeaSimferopol1920Museum GradeR6 Extremely Rare
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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, showing Emisión del Estado on the face and Departamento de Hacienda Junta Fiscalizadora Cincuenta Centavos Oro Sellado validation on the reverse, printed by Waterlow & Sons, London, raw uncirculated

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.

Government Revalidation
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