50 Pesos

Paraguay's monetary history in the early twentieth century is thin on drama by regional standards, which makes this note's survival more interesting than its issuance. The American Bank Note Company held a near-monopoly on South American government printing work during this period, and Paraguay was a reliable client — the ABNC's relationship with Asunción stretched back decades and produced most of the country's paper issues through the early republic.

The 1912 series was issued under the Banco de la República del Paraguay, established only in 1907 after the country finally consolidated its note-issuing authority following the catastrophic post-Triple Alliance War fiscal fragmentation. P#131 is among the less frequently encountered denominations from the series in any condition.