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100 Pesos Moneda Nacional - 10 Pesos Oro
| Issuer | Banco de la República del Paraguay |
|---|---|
| Year | 1907 |
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| Currency | Peso (1856-1944) |
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| Obverse description | Black intaglio on yellow-gold underprint. A central vignette presents the Palacio de los López in Asunción, framed by ornate guilloche borders and panel work. The country name arcs across the top, with the issuing bank name and the dual face value in full lettering — Cien Pesos Moneda Nacional and Diez Pesos Oro — inscribed below the vignette, with five known signature varieties. |
|---|---|
| Obverse lettering | REPÚBLICA DEL PARAGUAY EL BANCO DE LA REPÚBLICA Pagará al portador y á la vista CIEN PESOS MONEDA NACIONAL Ó DIEZ PESOS ORO SELLADO CONFORME A LA LEY DE 26 DE DICIEMBRE DE 1907. (Translation: Republic of Paraguay The Bank of the Republic will pay to the bearer and at sight One Hundred Pesos National Currency, or Ten Pesos Sealed Gold Accordingly to law from December 26th., 1907.) |
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| Comments |
Paraguay's monetary system in the early twentieth century was still recovering from the catastrophic losses of the War of the Triple Alliance (1864–1870), which had wiped out roughly half the country's population and left its financial institutions in ruins. The Banco de la República del Paraguay was established in 1906 as part of a broader stabilization effort, and this note — issued in its first full year of operation — reflects the dual-denomination convention then used to bridge the debased moneda nacional against a gold-pegged reference value.
Waterlow & Sons had by 1907 built a substantial portfolio of South American banking contracts. The watermark security on this issue was, by contemporary standards, modest — consistent with what the nascent institution could commission rather than what the threat environment demanded.