Catalog
100 Soles de Oro Overprinted on P#51
| Issuer | Banco Central de Reserva del Peru |
|---|---|
| Year | 1935 |
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| Shape | Rectangular |
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|---|---|
| Obverse lettering | LIMA, 12 DE ABRIL DE 1922. BANCO DE RESERVA DEL PERU PAGARÁ AL PORTADOR 10 DIEZ LIBRAS PERUANAS DE ORO DE ACUERDO CON LAS DISPOSICIONES DE LA LEY Nº 4500. (Translation: Lima, April 12th., 1922. Reserve Bank of Peru Will pay the bearer Ten Libras Peruanas de Oro in accordance with the provisions of Law# 4500.) |
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| Protection type | Watermark |
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| Comments |
Pick 59 consists of unsold stock from the earlier 100 Soles de Oro series (P#51) overprinted to give it new validity — a cost-cutting measure common to the BCRP during the mid-1930s, when ordering entirely fresh plates from the American Bank Note Company was an expense the bank preferred to avoid when existing inventory could be repurposed.
The overprint practice also served a monetary control function: it allowed the central bank to time the release of additional notes without committing to a new print run date, keeping circulation figures more manageable during a period of post-Depression fiscal caution in Peru.