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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)

Rarity: Pick Unlisted and attributed as Miguel Pratt MC14. This 1856 Reina-Ozcariz signed 2 Reales Tesoro Nacional Treasury Note is presented as the unique known surviving example of the earliest national paper money of Paraguay. Its importance rests on three connected points: it is the first national paper-money issue of Paraguay, it predates the later 1862 to 1865 restrike period, and it survives as a unique foundational document of South American fiscal and monetary history. 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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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.

Fiscal Revalidation Junta Fiscalizadora South American Monetary History Public Finance History History
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)

Archival specimen of the 1907 Banco de la República 100 Pesos, base Pick 159, printed by Waterlow & Sons, London, and later transformed by one of the most historically revealing emergency overprint configurations in Paraguayan paper money. The note bears the large face overprint “Emisión del Estado – 11 de Enero de 1912,” together with the reverse fiscal validation “Departamento de Hacienda – Junta Fiscalizadora – Diez Pesos Oro Sellado – Conforme Decreto de 20 de Mayo 1912.” This dual-side treatment places the note outside the ordinary single-face revalidation pattern and identifies it as a treasury-controlled specimen of exceptional documentary importance.

Fiscal Revalidation Junta Fiscalizadora South American Monetary History
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)

The 1912 overprint was not a decorative or routine bank marking. It was an emergency act of monetary authority. Paraguay entered 1912 under severe political and fiscal pressure, with civil unrest, weakened banking confidence, and a shortage of reliable circulating paper. Rather than waiting for an entirely new currency series to be prepared, the government turned to existing Banco de la República stocks and converted them into state-recognized obligations by means of a direct overprint. The oval “Emisión del Estado” stamp announced that the note was no longer merely an earlier bank issue, but had been accepted into the emergency monetary structure of the state.

Fiscal Revalidation South American Monetary History History
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