100 Soles de Oro

Peru's relationship with the Istituto Poligrafico e Zecca dello Stato ran for decades, and this note falls within a long series of Peruvian issues printed in Rome. The Sol de Oro itself had been Peru's currency unit since 1931, replacing the Libra Peruana at a time of monetary restructuring following the global depression — by 1976 the denomination was losing ground to inflation that would eventually force the entire currency's replacement with the Inti in 1985.

The watermark is the sole mechanical security measure on this issue, modest even by mid-1970s standards.