10 Guaranies

The 1963 series was among the first issues from the Banco Central del Paraguay following its establishment in 1952, replacing the earlier Banco del Paraguay structure as the country moved toward a unified central banking system under Alfredo Stroessner's government. Thomas De La Rue handled the printing throughout this period, a common arrangement for smaller Latin American central banks that lacked domestic intaglio capability.

The catalogued error variant — signatures printed on the reverse rather than the face — is the genuinely collectible item here. Misregistration errors of this type from De La Rue are uncommon enough to warrant separate notation, and P#196 acknowledges it as a distinct variety rather than a damaged example.