100 pesos 1939

Common. Secondary market data indicates consistent availability with eBay sales ranging from $2.25 to $6.47 for Fine to Very Fine examples between 2016-2022. AU-graded examples like this specimen command modest premiums but remain readily available in the collector market, suggesting a substantial original print run. The note is frequently encountered in international banknote circulation.

Issued on January 2, 1939, this note commemorates Uruguay's constitutional heritage through its iconography—the allegorical 'Constitution' figure and the elaborate historical assembly scene reference the nation's foundational 1830 Constitution. The note represents the Departamento de Emisión's monetary authority during the pre-Central Bank era of the Oriental Republic, a period of institutional development in Uruguayan banking and financial systems.

The obverse features an ornate red and brown design centered on the national coat of arms of Uruguay—a shield containing the iconic horse, rising sun, and fortress/mast architectural elements—surrounded by laurel wreaths symbolizing civic virtue. To the right stands the allegorical female figure 'Constitución' (Constitution) rendered in classical style with long braided hair, representing the nation's constitutional ideals. The denomination '100' appears in all four ornamental corners. The reverse displays an elaborate, finely engraved historical scene depicting the 1830 swearing-in ceremony of the Constitution, rendered as a crowded assembly of period-clothed figures gathered in a colonial-era town square dominated by a fortified building with multiple stories and flags. This complex historical illustration serves both decorative and security purposes.

FRONT: 'El Departamento de Emisión del Banco de la República Oriental del Uruguay' (The Emissions Department of the Bank of the Oriental Republic of Uruguay); 'Serie D' (Series D); 'Cien Pesos' (One Hundred Pesos); 'Moneda Nacional' (National Currency); 'Montevideo - Ley de 2 de Enero de 1939' (Montevideo - Law of January 2, 1939); 'Pagar al Portador' (Pay to Bearer); 'Constitución' (Constitution); Serial number: 11029931. BACK: 'Departamento de Emisión del Banco de la República Oriental del Uruguay' (Emissions Department of the Bank of the Oriental Republic of Uruguay); 'Cien Pesos' (One Hundred Pesos); 'Thomas de la Rue & Co. Ltd.' (printer attribution).

Intaglio engraving, executed by Thomas de la Rue & Co. Ltd., London. The note employs fine line engraving with intricate guilloche patterns, ornamental security borders, and extremely detailed line work throughout, particularly evident in the historical scene on the reverse. These techniques were characteristic of Thomas de la Rue's premium security printing standards of the period.

This specimen is identified as Pick P-39c, Series D, with serial number 11029931. The catalog notes signature and signature title varieties exist for this issue. Series D designation is visible on the obverse. PMG records indicate P-39c as the catalogued variant for this Pick number designation with Thomas de la Rue as printer.