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2 Pesos Tesoro Nacional - Blue type

Issuer Tesoro Nacional del Paraguay
Year 1865
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Shape Rectangular (Hand cut, only face)
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Obverse description Uniface letterpress issue printed in blue ink throughout. The national coat of arms is set as a central vignette at upper centre, with a horse-cart vignette positioned to the left. Denomination and issuer legends are arranged in multiple text blocks across the face, with the value repeated in large type at centre and rendered again along both side margins in a rotated 90-degree orientation.
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Reverse description Uniface note; the reverse is entirely blank, presenting only the plain paper stock with faint show-through of the obverse letterpress impression.
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Paraguay's Tesoro Nacional issued this note during the War of the Triple Alliance (1864–1870), the most catastrophic conflict in South American history by population loss. The Paraguayan state, cut off from foreign credit and external printing houses, was forced to produce its own paper currency domestically — hence the Asunción state press, an improvised solution under wartime siege conditions rather than a deliberate institutional choice.

The "blue type" designation distinguishes this from earlier printings of the same denomination, where typographic ink color varied across press runs — a direct consequence of inconsistent supply chains during the war years. The watermark is notable given the circumstances; that security paper was sourced and used at all points to stocks acquired before the blockade tightened.

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