1 Guaraní Pattern

Paraguay's postwar monetary reform of 1943 replaced the peso with the guaraní at a rate of 100 to 1, but coinage took years to follow legislation. This 1948 nickel pattern represents one of several competing designs evaluated before the circulating series was finalized — M#73 designation placing it firmly in the pattern sequence rather than any adopted type. The guaraní's early coinage program was complicated by reliance on foreign mints, Paraguay lacking domestic striking facilities.