1 Guarani Overprint on P#168

P#173 is a fiscal stopgap: an existing peso note from the P#168 series overprinted to reflect the guaraní, Paraguay's new currency unit introduced in 1943 as the country broke its monetary peg to the Argentine peso. Rather than commission an entirely new printing run from ABNC mid-war, the República simply overstamped existing stock — a practical solution, though one that leaves collectors sorting through ink consistency and overprint placement to distinguish genuine examples from later fabrications.

The watermark security was inherited from the host note, not added for this issue specifically.