10 pesos 1939

Common. This is a regular issue note from a stable issuer with substantial production during the 1939 issuance period. Catalog values from 2016 place UNC examples at $7.50, and eBay market data shows consistent sales of similar condition examples ranging from $2.49 to $5.50 across multiple years, indicating steady collector availability without scarcity premiums. The combination of regular production, multiple series variants (including the noted Series B variety), and consistent market supply at modest prices all support a common rarity classification.

This note was issued during a period of economic transition in Uruguay, issued through the specialized Emission Department rather than the central bank directly, reflecting the institutional structure of 1930s Uruguayan finance. The imagery celebrating rural agricultural labor—particularly the ox-drawn carreta (cart) depicted on the reverse—reflects Uruguay's agrarian economic foundation during this era, honoring the pastoral and agricultural heritage central to Uruguayan national identity. The note's design, printed in London by Thomas de la Rue, demonstrates the continued reliance on British security printing expertise in this period.

The obverse features a central portrait of General José Gervasio Artigas, the founding national hero of Uruguay, depicted as a bearded man in formal 19th-century military attire. To the left is the national coat of arms of Uruguay containing heraldic symbols including scales of justice, a liberty bell, a horse, and cattle, surrounded by a decorative laurel wreath. The denomination '10' appears in ornate rectangular frames in the upper right and lower left corners. The entire design is rendered with intricate guilloche (fine line pattern) background work and detailed decorative borders. The reverse depicts the iconic Monumento a la Carreta (Cart Monument) scene showing a farmer with ox-drawn cart laden with agricultural produce traversing the Uruguayan plains, symbolizing the nation's rural prosperity and agrarian heritage. The composition demonstrates the pastoral landscape and agricultural commerce central to Uruguay's economy. Both sides employ fine line engraving with scalloped border frames and detailed ornamental work throughout.

FRONT: 'EL DEPARTAMENTO DE EMISIÓN DEL BANCO DE LA REPÚBLICA ORIENTAL DEL URUGUAY' (The Emission Department of the Bank of the Oriental Republic of Uruguay) / 'DIEZ PESOS' (Ten Pesos) / 'MONEDA NACIONAL' (National Currency) / 'MONTEVIDEO' / 'USYDE 2 DE ENERO DE 1939' (Issued 2nd of January 1939) / 'SERIE B' (Series B) / 'PAGARAL PORTADOR' (Payable to Bearer) / 'VALA VISTA' (At Sight) / 'Girado del Poder Ejecutivo' (Issued by the Executive Power). BACK: 'DEPARTAMENTO DE EMISIÓN DEL BANCO DE LA REPÚBLICA ORIENTAL DEL URUGUAY' (Emission Department of the Bank of the Oriental Republic of Uruguay) / 'DIEZ PESOS' (Ten Pesos) / 'THOMAS DE LA HUE & CO. LTD.' (printer attribution).

Intaglio (engraved) printing on fiber-paper stock, executed by Thomas de la Rue & Co., Ltd. of London, the renowned British security printer. The note exhibits characteristic fine-line guilloche pattern work, detailed portrait engraving, and multi-layered protective design elements typical of high-security banknote production of the 1930s. The purple-toned multicolor underprint and layered security features demonstrate advanced security printing standards for the period.

This note is identified as Pick P-37b, indicating it is a recognized catalog variety distinct from P-37a. The visual analysis confirms Series B designation printed on the note. The catalog references signature and signature title varieties, though specific signature identification would require comparison to detailed signature catalogs. The Pick reference notes that similar notes were later issued by Banco Central del Uruguay (P-42), suggesting this Departamento de Emisión version represents the earlier institutional issuance. No overprints or unusual printing variations are evident in the examined images.