50 Guaranies

Paraguay's Banco Central was only established in 1952, replacing the earlier Banco del Paraguay that had issued currency under far less stable conditions. The 1963 series marked one of the first genuinely consolidated postwar emission programs, issued in the wake of the 1960 monetary reform that pegged the guaraní under IMF stabilization arrangements — Stroessner's government needed credible paper, and De La Rue supplied it.

Three distinct signature combinations are recorded for this pick number, reflecting ministerial and bank presidency changes across the note's active issue period. The shift in serial number placement — lower left/lower right versus upper left/lower right — distinguishes the third variant from the first two and is the quickest field identification point.