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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)

Among recorded Paraguayan emergency issues, the dual-side state and treasury revalidation format is virtually in a class of its own. It is not simply another overprint variety. It is a surviving document of how Paraguay attempted to defend official monetary credibility at a moment when ordinary paper value, legal value, and gold-referenced value were no longer the same thing in practice. The second overprint is therefore the key historical feature: it confirms that this note was not only reissued, but reviewed, fiscalized, and tied back to the higher official “Diez Pesos Oro Sellado” standard. As a Pick-unlisted specimen, base Pick 159, and R9 Extremely Rare survivor, it stands as a museum-grade crown piece of Paraguayan emergency paper money. 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
Held
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)

Certified PMG 65 EPQ and identified as Top Pop, this piece stands at the pinnacle of known preservation for the issue. It combines the recognized catalog status of Pick 134, the important base identity of Pick 159, the Waterlow & Sons engraving legacy, and the emergency authority of the 1912 state overprint. For early Paraguayan paper money, it is a cornerstone note: historically urgent, visually powerful, and preserved at a level that few provisional issues of this period can match. 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
Held
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)

Uncirculated 1907 Banco de la República 5 Pesos note, printed by Waterlow & Sons, London, and later transformed by the 1912 Paraguayan emergency revalidation process. The note is based on the original 1907 Banco de la República 5 Pesos issue, cataloged as Pick 156, but this dual-side state and Treasury validation format appears to stand outside the standard catalog listing and is therefore best treated as Pick Unlisted, base Pick 156. The face carries the large oval state overprint “Emisión del Estado – Ley de 11 de Enero de 1912,” while the reverse bears the additional Treasury validation “Departamento de Hacienda – Junta Fiscalizadora – Cincuenta Centavos Oro Sellado – Conforme Decreto de 20 de Mayo 1912.” This dual-side structure places the note among the most historically informative forms of Paraguay’s 1912 provisional paper money. 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
Held
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 overprint marks a decisive administrative transformation. The original note began as a Banco de la República obligation issued under the 1907 monetary framework. In 1912, during a period of political disorder, fiscal instability, and urgent demand for usable circulating paper, the Paraguayan state repurposed existing banknote stocks rather than waiting for a completely new issue. The oval “Emisión del Estado” overprint announced that this older banknote had been accepted into the emergency currency system and was now recognized as a state-authorized obligation. 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
Held
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