1,25 pesos 1899
Market Prices
About This Note
This is a Paraguayan 1 Peso 25 Centavos banknote issued by Banco del Paraguay y Rio de la Plata under the law of June 25, 1889, printed by the American Bank Note Company. The note displays the characteristic ornate engraving of late 19th-century currency, featuring a seated allegorical female figure in classical dress on the obverse and elaborate geometric and botanical patterns in green on the reverse. In Fair condition, this heavily circulated example shows significant age-related wear including creases, folds, yellowing, and staining, consistent with over a century of use in Paraguay's monetary system.
Common. The eBay price data shows this note type trading consistently in the $45-$100 range for higher grades (VF-XF), with lower grades and unspecified conditions often below $50, and some listings as low as $1.85-$19.99. This pricing pattern, combined with the note's circulation from a substantial banking institution with a law-mandated issue, indicates a robust print run and ready availability on the secondary market. The Fair condition example observed would typically fall into the lower end of the price range but remains easily obtainable for collectors.
This note was issued during a period of monetary reform in Paraguay following the War of the Triple Alliance (1864-1870), when the nation sought to establish modern banking institutions and standardized currency. The inclusion of 'República del Paraguay' with the national motto 'Paz y Justicia' (Peace and Justice) reflects the post-war reconstruction era, while the denomination in both gold and silver currency reflects the bimetallic standard common to Latin American nations of this period. The American Bank Note Company's production of this currency demonstrates Paraguay's engagement with international financial modernization during the late 19th century.
The obverse features a classical allegorical composition with a seated female figure representing Liberty or Progress positioned in a central medallion, rendered in fine engraved line work typical of ABNC's highest quality production. To the right is an oval portrait frame containing a male figure (likely a national hero or founding figure of Paraguay), accompanied by a star symbol and palm frond decoration. The denomination text 'UN PESO Y 25 CENTAVOS FUERTES' appears prominently, with detailed scrollwork and ornamental flourishes framing all elements. The reverse displays an entirely decorative composition in green ink, featuring shield-shaped frames containing intricate botanical motifs (floral patterns) and geometric designs, with scalloped borders and fan-like ornamental elements creating a symmetrical, harmonious layout. The elaborate engraved patterns throughout served both aesthetic and security purposes.
FRONT SIDE: 'El Banco del Paraguay y Rio de la Plata' (The Bank of Paraguay and Rio de la Plata) / 'Ley de 25 de Junio de 1889' (Law of June 25, 1889) / 'Pagadera al portador y á la vista' (Payable to bearer and on sight) / 'Un Peso y 25 Centavos Fuertes en moneda de oro ó plata sellada de curso legal' (One Peso and 25 Strong Centavos in gold or silver currency stamped for legal circulation) / 'República del Paraguay' (Republic of Paraguay) / 'Paz y Justicia' (Peace and Justice) / 'American Bank Note Co. New York' / Serial number: 136997. BACK SIDE: 'Banco del Paraguay y Rio de la Plata' (Bank of Paraguay and Rio de la Plata) / 'Un Peso y 25 Centavos Fuertes' (One Peso and 25 Strong Centavos) / '125' (denomination marking) / 'American Bank Note Company, New York'.
Steel engraving (intaglio printing) executed by the American Bank Note Company, New York. The fine line work, intricate ornamental patterns, complex border designs, and the depth of impression visible in the described wear patterns are all characteristic of high-quality steel engraving. The use of multiple color plates (black and sepia on obverse, green on reverse) indicates the sophisticated multi-pass printing technology employed by ABNC, one of the world's premier currency printers of the period.
The PMG population report identifies two variants for Pick number P-S161: the base P-S161 and P-S161fp (likely indicating face plate or printer mark variant). The specific example documented here shows serial number 136997 in red ink. The visual analysis does not reveal any obvious overprints, date variations, or signature varieties that would distinguish this as a specific sub-variety beyond the base catalog listing. Standard variety designation would be P-S161 unless additional research into the serial number prefix or printer marks indicates the P-S161fp classification.
