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5 Pesos Fuertes Caja de Conversión
| Issuer | Caja de Conversión del Paraguay |
|---|---|
| Year | 1907 |
| Type | Standard circulation banknote |
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| Obverse description | Black intaglio on yellow and orange underprint. Central vignette presents a panoramic view of the city of Asunción as seen from the river. The face bears the principal text legend across the lower portion, with the denomination stated in words within the inscription. |
|---|---|
| Obverse lettering | REPÚBLICA DEL PARAGUAY LA NACION RECONOCE ESTE BILLETE POR 5 CINCO PESOS FUERTES QUE PAGARÁ CONFORME Á LA LEY DE 26 DE DECIEMBRE DE 1907. (Translation: Republic of Paraguay The Nation recognizes this note for Five Pesos Fuertes That will pay according to the Law of December 26th., 1907.) |
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| Comments |
Paraguay's Caja de Conversión was established in 1907 specifically to stabilize the peso fuerte after decades of postwar monetary chaos — the country had not fully recovered economically from the War of the Triple Alliance, which ended in 1870 and left Paraguay demographically and financially devastated. The conversion house issued notes backed, in theory, by gold and foreign exchange reserves, though in practice those reserves were thin from the outset.
ABNC engraving is typically crisp on first-issue examples; later printings of this series are known to show plate wear on the fine-line border work.