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2 Pesos Fuertes Oficina de Cambios

Issuer Oficina de Cambios del Paraguay
Year 1916
Type Standard circulation banknote
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Obverse description Black intaglio print over a blue underprint, with a central vignette of the Government Palace (Casa de Gobierno). Ornate letterpress inscriptions in the issuing authority's name and face value appear above and below the central vignette, with decorative guilloche borders framing the composition. Four signature varieties are recorded for this type.
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Variants P#139a(1) - signatures: Evaristo Acosta & Juan Y. Ugarte
P#139a(2) - signatures: Arturo R. Campos & Gerónimo Zubizarreta
P#139a(3) - signatures: Cleto J. Sánchez & Gerónimo Zubizarreta
P#139a(4) - signatures: Victoriano Escobar & Gerónimo Zubizarreta
P#139a(5) - signatures: Machain & Gerónimo Zubizarreta
Comments

The Oficina de Cambios del Paraguay was a state exchange office, not a central bank, and its notes occupied an awkward bureaucratic middle ground — technically convertible instruments rather than standard fiduciary currency. The five known signature combinations on this type reflect high turnover among the office's signatories across the note's years of use, which stretched well past the 1916 print date.

American Bank Note Company held Paraguay's printing contracts through much of the early twentieth century, and the plates were kept in New York for reuse across denominations and issuers — cost-efficient, but it meant design refreshes were rare.

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