10 Centavos Caja de Conversión

Paraguay's Caja de Conversión was established in the wake of the catastrophic War of the Triple Alliance, which had ended in 1870 leaving the country demographically gutted and economically hollowed out. This 10 Centavos note belongs to the earliest postwar attempt to build a functional monetary infrastructure from scratch — a country that had lost an estimated half or more of its prewar population had precious little commerce to back any currency it chose to emit.

Documentation on the specific printer and production details for this series remains sparse in the literature. Pick lists it without confirmed printer attribution, and surviving examples are genuinely uncommon given how thin circulation and banking infrastructure were in 1874 Paraguay.