

This is a 1963 Paraguay 5 Guaranies note (Pick P-195b) in circulated condition, issued by Banco Central del Paraguay and printed by Thomas De La Rue in London. The obverse features a portrait of a Paraguayan woman in traditional dress holding a decorative item, with the national coat of arms prominently displayed on the left side. The reverse showcases the Hotel Guarani in Asunción, a significant landmark of the era. While the note exhibits visible creasing, foxing, and age-related wear inconsistent with the UNC grade assigned in the catalog data, it remains a collector-accessible example of mid-20th century Paraguayan currency design.
Common. The eBay price tracking data demonstrates consistent sales activity over multiple years (2013-2025) with typical UNC examples selling for $1.99-$6.00 range, well below the threshold for rarity designation. The note appears regularly in market circulation with sufficient supply to maintain modest pricing. No evidence of restricted print runs, recalls, or short-lived issuance exists. The catalog value of $6 UNC and multiple documented sales support common classification.
This note was issued under Decree Law No. 18 of March 25, 1952, during a period of significant institutional development for Paraguay's central banking system. The obverse celebrates 'LA MUJER PARAGUAYA' (The Paraguayan Woman), reflecting mid-20th century nationalist imagery emphasizing Paraguayan cultural identity and indigenous heritage. The reverse's depiction of the Hotel Guarani in Asunción—a modern architectural statement for the era—symbolized Paraguay's economic development aspirations during the 1950s-60s.
The obverse features a three-quarter length portrait of a Paraguayan woman occupying the right portion of the note, depicted in traditional Paraguayan dress adorned with cultural jewelry and a decorative necklace, holding what appears to be a small craft item or animal. The Paraguayan national coat of arms is centrally positioned on the left within an ornate shield. The denomination '5' and 'CINCO GUARANIES' appear in decorative badges and cartouches throughout the design. The reverse is divided into three sections: the left panel displays the denomination 5 within an ornate rosette pattern with 'REPÚBLICA DEL PARAGUAY' text; the central section features an engraved or photographic representation of the Hotel Guarani, a multi-story modern building with regular window patterns and horizontal architectural lines; the right panel mirrors the left with denomination 5 in decorative rosette. Serial numbers appear in black on the obverse (lower left and right) and in red on the reverse (upper left and lower right).
FRONT SIDE: 'BANCO CENTRAL DEL PARAGUAY' (Central Bank of Paraguay); 'EL BANCO CENTRAL DEL PARAGUAY RECONOCE ESTE BILLETE POR CINCO GUARANIES' (The Central Bank of Paraguay recognizes this banknote as Five Guaranies); 'LA MUJER PARAGUAYA' (The Paraguayan Woman); 'ESTE BILLETE TIENE CURSO LEGAL Y FUERZA CANCELATORIA ILIMITADA EN TODO EL TERRITORIO DE LA REPÚBLICA (DECRETO LEY Nº 18 DEL 25 DE MARZO DE 1952)' (This banknote has legal tender status and unlimited canceling power throughout the territory of the Republic - Decree Law No. 18 of March 25, 1952); 'GERENTE' (Manager); 'PRESIDENTE' (President); 'THOMAS DE LA RUE & COMPANY, LIMITED.' (printer attribution). BACK SIDE: 'REPÚBLICA DEL PARAGUAY' (Republic of Paraguay); 'CINCO GUARANIES' (Five Guaranies); 'HOTEL GUARANI' (Hotel Guarani); 'THOMAS DE LA RUE & COMPANY, LIMITED.' (printer attribution).
Intaglio engraving (line engraving and recess printing), the signature technique of Thomas De La Rue & Company, Limited of London. The note exhibits characteristic fine line work, intricate rosette patterns, complex ornamental designs, and detailed photographic reproduction capabilities that define De La Rue's security printing excellence of the mid-20th century. The combination of multiple color layers (black primary with multicolor underprint on obverse, red serial numbers on reverse) indicates multi-stage printing with careful color registration.
Pick P-195b designates the black color variant of this design (Pick P-194 exists as the blue color version). Two signature varieties are documented for this series. Replacement notes are identified by serial number prefix 'Z'. The specific serial number visible (A24312401) indicates a regular issue note without Z-prefix replacement designation. Further variety classification would require examination of specific signature combinations and date variants on the issue authority line.